New Delhi: On Monday, an Assocham study said, India’s extent drug suppliers are likely to raise at an average rate of 12-14 % till the year 2018-19 on the back of raising shipments to countries involving US and Europe.

The joint study by Assocham-Yes Bank pointed, “Of late, the exports have shifted in favour of regulated markets evidently as there has been an increase in the share of these markets to about 49 per cent in 2013-14 from about 43 per cent in 2008-09”

It added "India's bulk drug exports are likely to grow at a CAGR of 12-14 per cent till 2018-19, driven largely by exports to regulated markets,"

It added"The growth story of domestic formulations market is expected to remain strong, led by better healthcare diagnostic infrastructure," it added.