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PHARMA INDUSTRY IN INDIA
The pharma company in India was estimated at US$33 billion out of 2017 and generic drugs account for 20 per cent of global exports in terms of volume, making the country the largest provider of generic medicines globally. Indian pharma industry is right now estimated at $41 bn. The pharma industry is expected to reach $65 bn by 2024 and $120 bn by 2030.
- Indian pharma companies are largest vaccine producer on the planet.
- Indian pharma companies are largest manufacturers and exporters of generic medicines.
- Indian pharma industry generates over $11 bn of trade surplus every year.
- Indian pharma export to United States reached USD 16.28 B in FY20.
As indicated by the Department of Pharmaceuticals, Ministry of Chemicals and Fertilizers, domestic pharma market turnover arrived at Rs 129,015 crore (US$18.12 billion) in 2018, becoming 9.4 percent year-on-year and exports income was US$17.28 billion in FY18 and US$19.14 billion in FY19.
The Government began to support the development of medication producing by Indian Pharma companies in the mid-1960s, and with the Patents Act in 1970.
Starting at 2002, more than 20,000 pharma companies in India sold $9 billion worth of formulations and bulk drugs. 85% of these formulations were sold in India while over 60% of the bulk drugs were exported, for the most part to the United States and to Russia. 250 of the biggest pharma companies control 70% of the Indian market. Multinationals addresses just 35% of the pharmaceutical market. As far as the worldwide pharmaceutical market, India right now is considered as pharmacy of the world.
Indian pharma companies carved a niche in both the Indian and world pharmaceutical markets with their aptitude in figuring out new cycles for assembling drugs at low costs which turned into the benefit for industry. Generic drugs, with 71% piece of the pie, structure the biggest section of the Pharmaceutical industry in India. This is set to grow as exports of generics to the United States rise, as branded drugs worth $55 bn has become off-patent during 2017-2019.
Top pharma companies in India are:
|Rank||Name||Sales (Cr. INR) *||% Growth|
Top therapies in India are:
|Rank||Name||Sales (Cr. INR) *||% Growth|
*- MAT April 21
Growth Drivers for Pharmaceutical industry:
- Innovation and R&D
- Medical tourism
- Infrastructure development
- Strong domestic demand
- Strong drug manufacturing
Advantage of Indian Pharma industry:
- Cost Efficiency: Low cost of production, R&D etc.
- Economic Drivers: High economic growth along with increasing penetration of health insurance.
- Increased Investment: The foreign direct investment inflows in the Indian Drugs and Pharmaceutical sector stood at USD 17.75 B between April 2000 and December 2020.
- The Pharma industry in India is the third biggest on the planet as far as volume and 14th biggest as far as worth. It contributes 3.5% of the all-out medications traded around the world.
- India, known as the Pharmacy of the World, is the biggest supplier of generic medications and perhaps the greatest provider of minimal expense vaccines worldwide.
- India is the second biggest PPE Kits producer with a creation limit of 10 lakh+ PPE coveralls each day.
- Pharma industry is one of the top ten attractive sectors for foreign investment in India.
- The pharma exports from India reach more than 200 nations around the world, including highly regulated markets of the USA, West Europe, Japan, and Australia.
- About 20% of the global exports in generic drugs are met by India.
- The Indian pharma industry is the third-largest in the world by volume and 14th largest in terms of value. It contributes 3.5% of the total drugs and medicines exported globally.
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