Pharmaceutical industry in India

According to Department of Pharmaceuticals, the total turnover of India's pharmaceuticals industry between 2008 and September 2009 wasUS$21.04 billion.Mumbai, Hyderabad and Ahmedabad are the major pharmaceutical hubs of India. While the domestic market is worthUS$13.8 billion as of 2013, and is expected to reachUS$49 billion by 2020

Presently there are 10,500 manufacturing units and over 3,000 pharma companies in India, growing at an exceptional rate. India has about 1,400 WHO GMP approved manufacturing units. India has been accredited with approximately 1,105 CEPs, more than 950 TGA approvals and 584 sites approved by the USFDA. Globally more than 90 per cent of formulations approvals for Anti-retroviral (ARVs), Anti-tubercular & Anti-malarial has been granted to India.


Manufacturing costs in India are approximately 35-40 per cent of those in the US due to low installation and manufacturing costs. India ranks amongst the top global generic formulation exporters in volume terms. India’s pharma exports stood at US$ 15 billion in 2013-14. India exports all forms of pharmaceuticals from APIs to formulations, both in modern medicine and traditional Indian medicines.

India'sbiopharmaceuticalindustry clocked a 17 percent growth with revenues of Rs.137 billion ($3 billion) in the 2009-10 financial year over the previous fiscal. Bio-pharma was the biggest contributor generating 60 percent of the industry's growth at Rs.8, 829 crore, followed by bio-services at Rs.2,639 crore and bio-agriculture at Rs.1,936 crore. The country’s pharmaceutical industry accounts for about 1.4 per cent of the global pharmaceutical industry in value terms and 10 per cent in volume terms. The Government of India has announced a host of measures to create a facilitating environment for the Indian pharmaceutical industry. The policies of the Government of India are aimed at building more hospitals, boosting local access to healthcare, improving the quality of pharmaceuticals and improving the quality of medical training. The Government of India is committed to setting up robust healthcare and delivery mechanisms.


The Indian pharmaceutical market size is expected to grow to US$ 100 billion by 2025, driven by increasing consumer spending, rapid urbanization, and raising healthcare insurance among others.

Going forward, better growth in domestic sales would also depend on the ability of companies to align their product portfolio towards chronic therapies for diseases such as such as cardiovascular, anti-diabetes, anti-depressants and anti-cancers that are on the rise. The Make in India Campaign has taken several steps to reduce costs and bring down healthcare expenses along with speedy introduction of generic drugs into the market has remained in focus and is expected to benefit the Indian pharmaceutical companies. In addition, the thrust on rural health programs, lifesaving drugs and preventive vaccines also augurs well for the pharmaceutical companies. The Addendum 2015 of the Indian Pharmacopoeia 2014, published by the Indian Pharmacopoeia Commission on behalf of the Ministry of Health & Family Welfare, is expected to play a significant role in enhancing the quality of medicines that would in turn promote public health and accelerate the growth and development of pharmaceutical sector.

 

Indian drugs are the worst.

 

This is great news. Western nations squandered their contributions to the global drug industry through short-sighted policies and corporate greed. Hopefully India takes over the global drug market. They have the talent and ambition to become the epicenter of the global pharmaceutical industry.

With India taking over as the research, development, and manufacturing base, Western nations will be able to do away with ineffective and bureaucratic groups like the FDA, BP, and EP. Regulators are not doing anything except holding up progress and making money from shuffling papers. Do away with these groups and get the medicine to people in need!

 

Great, maybe I can move to India and land a job!