10 Interesting Facts About The Pharmaceutical Industry Of India

10 Interesting Facts About The Pharmaceutical Industry Of India.

  • The Indian pharmaceuticals market is the third largest in terms of volume and sales. Also the thirteenth largest in terms of value, as per a report by Equity Master
  • India is the largest supplier of generic drugs globally with the Indian generics accounting for 20 per cent of global exports in terms of volume
  • Consolidation has become an important attribute of the Indian pharmaceutical market as the industry is highly disintegrated
  • India enjoys a cardinal position in the global pharmaceuticals sector. The country also has a large pool of scientists and engineers who have the potential to guide the industry ahead to an even higher level
  • Presently over 80 per cent of the antiretroviral drugs used globally to combat and fight AIDS (Acquired Immune Deficiency Syndrome) are provided or supplied by Indian pharmaceutical firms
  • The pharmaceutical industry is expected to progress and develop to US$ 55 billion by 2020, thereby emerging as the sixth largest pharmaceutical market globally by absolute size, as stated by Mr. Arun Singh, Indian Ambassador to the US
  • Some of the major investments in the Indian pharmaceutical sector are as follows:
    • India's largest drug maker Sun Pharmaceutical Industries Limited has entered into a distribution agreement with Japan's Mitsubishi Tanabe Pharma Corporation to market 14 prescription brands in Japan
    • Syngene International Limited will be setting up its fourth exclusive Research and Development (R&D) center named Syngene Amgen Research and Development Center (SARC) for a US-based biotechnology company Amgen Incorporation in Bengaluru
    • India's third largest drug maker Lupin Limited plans to file its first bio-similar Etanercept for approval in Japan, world's second largest drug market, in 2017
  • The Government of India unveiled 'Pharma Vision 2020' aimed at making India a global leader in end-to-end drug manufacture
  • The Indian pharmaceutical market size is expected to grow and prosper to US$ 100 billion by 2025, driven by increasing consumer spending, rapid urbanisation, and raising healthcare insurance among others
  • The Indian government along with famous pharma companies has taken many steps to reduce costs and bring down healthcare expenses