Growth Drivers
•Rising NCD prevalence and government-mandated insurance roll-outs are accelerating prescription volumes in Tier-2/3 cities; with out-of-pocket spend still >60%, the Pharmerging market is witnessing a 10–12% CAGR on unit demand alone, outpacing the 4–5% global average and driving Pharmerging market size from US$340 Bn in 2023 to US$520 Bn by 2028, according to our growth forecast.
•Localized biologics and complex-generic capacity coming on-stream (e.g., monoclonal-antibody biosimilars in China, Brazil) cuts import reliance by 20–25%, freeing formulary budget for next-wave therapies; this cost arbitrage is expected to lift domestic value capture per molecule from 35% to 50% within five years, reinforcing double-digit revenue expansion.