India will emerge as a leading global player in pharmaceutical industry by 2020, securing a place among the top five major global markets, states a study report released by Rajkot-based Ikon Marketing Consultant (IMC). Describing the ongoing decade as a healthy one for the pharma industry, Mr. Azaz Motiwala, IMC's founder and principal consultant, said the major driving factors in this decade are huge domestic demand and increased spending on drugs. "The global pharma market is expected to grow at 7 per cent to 8 per cent over the next five years, reaching an anticipated US$1.7 trillion in 2020," he said, adding that India is going to rank among top ten global players by 2015.
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