How the Indian Pharmaceuticals industry reigning in the global market.
India is a major pharmaceutical exporter, with over 200 nations covered by Indian pharmaceutical exports. India meets more than half of Africa's generic needs, 40% of generic demand in the United States, and 25% of total pharmaceuticals in the United Kingdom.
India is also a major provider of DPT, BCG, and measles vaccines, accounting for 60% of global demand. According to the WHO's essential immunisation schedule, India supplies 70% of all vaccinations.
Drugs and pharmaceutical exports totaled $ 2052.78 million in September 2022, accounting for 6.29% of total monthly exports. In the fiscal year 2021-22, the average index of industrial production of medicines, medicinal chemicals, and botanical goods was 221.6, up 1.3% over the previous year.
Exports of pharmaceuticals and pharmaceutical products were $24.6 billion in 2021-22, up from $24.44 billion in 2020-21. During the period 2014–22, the Indian pharmaceutical business grew by 103%, from $11.6 billion to $24.6 billion.
The Indian pharmaceutical industry is extremely important in the global pharmaceutical industry. India ranks third in terms of volume and 14th in terms of value. The country is the world's largest supplier of generic medications, accounting for 20% of worldwide supply by volume, and the world's leading vaccine manufacturer. India also possesses the most US-FDA-approved pharma plants outside of the US, with over 3,000 pharma businesses and a robust network of over 10,500 manufacturing facilities, as well as a highly-skilled resource pool.
In India, the pharmaceutical industry offers 60,000 generic brands in 60 therapeutic areas. Generic medications, OTC medicines, API/Bulk Drugs, Vaccines, Contract Research & Manufacturing, Biosimilars, and biologics are major segments.
Incentives of INR 21,940 crore ($3 billion) have been approved.
The market is estimated to be worth $65 billion by 2024 and $130 billion by 2030.
11-12% expected growth rate (2020-2030).
Manufacturing costs are 33% less than in Western markets.
The Indian pharmaceutical industry has made a global impression because of its low prices and high quality, with India producing 60% of the world's vaccines and 20% of generic medications.
Under the automatic route for greenfield pharmaceuticals, 100% FDI is permitted in the pharmaceutical sector.
100% of FDI in the pharmaceutical sector is permitted in brownfield pharmaceuticals, with 74% permitted via the automatic route and the remainder via the government permission process.