IPR is a prerequisite for pharma companies for identification, planning, commercialization, and protection of invention. It is also an important tool to protect investment, time, and effort and encourages healthy competition—thus promoting industrial development and economic
The Indian pharma industry is on a growth trajectory—being the third largest in terms of volume and the thirteenth largest in terms of value. Indian generics accounts for 20 percent of global exports in terms of value. However, branded generics dominate the drugs market, accounting for 70 to 80 percent of the market. The pharma industry has registered unprecedented growth in the past decades fuelled by high burden of disease, higher disposable income, healthcare infrastructure, etc. The pharma industry will continue to grow organically and inorganically through alliances, joint ventures, and mergers and acquisitions. The focus is on improving efficiency and productivity through novel ideas and business models. The major growth drivers for the pharma industry include developments in healthcare insurance, medical technology, healthcare financing, and improving healthcare access.