Merckindia Merckindia · Follow Feb 10 · 1 min read
What is the future of pharmaceutical industries in India? India’s pharmaceutical sector’s growth trajectory has shown constant growth since the last 10 years. It has now grown to a size that presently Indian pharma is now the biggest vaccine maker and #1 supplier of generic drugs. Currently, India is the most preferred destination for innovative medicines, exporting drugs to approximately 150 countries. During the current Covid-19 times, Indian pharmaceutical industries sector has successfully managed to supply life-saving drugs to the whole world. The best thing to note here is that despite Indian pharma companies supplying drugs to the whole world, there was no scarcity of drugs here in the domestic market. So, it doesn’t matter whether we talk about short-term outlook or future, Indian pharma is shining and will continue to shine in terms of growth and revenue. According to latest research and reports, Indian pharma will continue its growth trajectory till 2030 with annual revenues of approximately $90 billion with positive support by government policies due to: Rise in domestic consumption. Loss of exclusivity of patents in the developed countries. Rise of biosimilars. Ability to provide Next Generation and Innovative drugs. Already a reliable It is imperative that Indian pharma sector should further consolidate and strengthen its current drug supplier to theposition world. in the global pharma market industry. It also needs
to work towards attaining self-sufficiency with quality and innovation as a benchmark for growth.
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