The Indian oncology drugs market has been growing substantially on account of rise in cancer prevalence, evolving treatment protocol, and widening coverage of healthcare. India, being a country of diverse population and witnessing an increasing incidence of cancer, has emerged as a market of choice for oncology therapies. Recently there have been industry reports that the oncology drugs market in India will grow at a double digit CAGR over the next five years. Rising cancer burden in India and millions of new case diagnosed every year is one of the primary drivers of this growth. The rising incidence of this disease has created a critical need for more advanced treatment options, particularly, targeted therapies, immunotherapy and biosimilars. This is also driven forward by improvements in diagnostics and better understanding of cancer biology.

Also, the Indian government’s initiatives in promoting the cancer care infrastructure through National Cancer Control Program and Ayushman Bharat scheme has significantly increased access to the oncology treatments. Specialized cancer centers are expanding and the growing network of healthcare providers have also helped to make advanced cancer treatments available to a greater portion of the population including tier 2 and tier 3 cities. There is an increasing investment made by both domestic as well as international pharmaceutical companies in the Indian market. There are key players who have been introducing new drugs and therapies. Another factor is the trend of cooperation and partnerships between local firms and global biotech organizations to develop novel oncology solutions targeted at the Indian demographics.

Keeping tabs on this market, India Pharma Outlook has shortlisted the select few companies that have exhibited an unrelenting pursuit of excellence. By proving their dedication to fulfilling customer expectations and contributing to the market’s evolution through their innovative disposition, these firms are blazing a trail.

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