Indian pharmaceuticals market is expected to touch $55 billion by 2020, from the  $36.7 billion of 2016 according to a study jointly conducted by Assocham and research firm Indian Institute of Tourism and Travel Management (IITTM).

According to this study India is likely to be among the top three pharmaceutical markets by incremental growth and sixth largest market globally in absolute size by 2020.

Indian pharmaceuticals market increased during from 2005 to 2016 up to $36.7 billion.

The study reveals that in the first six months of 2016 alone, close to a hundred thousand foreign tourists have arrived on a medical visa making it a very lucrative market. 

Source: Deccan Herald, Times of India