Notwithstanding the current global economic crisis, India's pharmaceutical industry and its health care market are expected to grow rapidly in the next few years.

Driven by strong local demand, Indian health care market is expected to continue growing close to previously projected rates of 10 to 12 per cent. The high growth of the Indian health care sector is primarily driven because of domestic reasons.

With average household consumption expected to increase by more than 7 per cent per annum, the annual healthcare expenditure is projected to grow at 10 per cent and also the number of insured is likely to jump from 100 million to 220 million.

Further hospital beds are expected to double from 1.5 per thousand to 2.9 per thousand and the diagnostic laboratories to grow by 20 to 25 per cent. There will be an addition of 3,00,000 to 4,00,000 doctors and another 2,50,000 to 3,00,000 nurses.