The Indian Pharma industry, which is expected to grow over 15 per cent per annum between 2015 and 2020, will outperform the global Pharma industry, which is set to grow at an annual rate of 5 per cent between the same period, thereby emerging as the sixth largest pharmaceutical marketthus the Laboratory instruments segment is growing rapidly in India.
Tamil Nadu pharma industry is a fast growing sector and the state is becoming a promising destination for pharmaceutical and cosmetic products. A significant portion of the medicines exported to different countries such as US, UK and African continent is from Tamil Nadu. The first Pharma Estate, approved by the Central government in the early 1980s to promote the pharma sector, was set up in Tamil Nadu only. The state has the presence of manufacturing facilities of several MNCs, big players influencing the domestic market and more than 400 manufacturing companies are coming under the SME sector. The pharma sector in the state has also produced leading industries.
There are around 10 US FDA approved, 10 UKMHRA approved and over 300 WHO GMP approved manufacturing units in Tamil Nadu.