Domestic pharma market to grow 12-14% in 3 years, exports by 8-14%: KPMG

The country ranks as the third-largest pharma market globally by volume and 13 largest by value

India's domestic pharmaceuticals market is expected to grow by 12 to 14 per cent in the next three years while the export market may grow by 8 to 14 per cent, according to a new report by professional services firm KPMG.

Backed by a $41 billion pharma industry, the country ranks as the third-largest market globally by volume and 13 largest by value. The epidemiological transition from communicable diseases to noncommunicable diseases in the country is driving the pharma market.

At the same time, said the report, India is a key component of the global life sciences industry.

Its manufacturers are one of