Future of Indian Pharmaceutical Market in this Decade

January 13, 2021
MCareExports

India being the pharma manufacturing hub from almost last 20 years where we are catering 20 % requirement of generic medicines globally by volume, hence providing cheap medicines to the world. This is the right time where the industry can provide the economic boost to the national economy with gloves in hand with the government. It is needed to pursue the government to understand the economic infrastructure support needed by the industry. As the opportunity & prospect this industry contains a growth high as $100 billion per year could be achieved and this can become the economic booster next after IT industry. The outreach towards other countries apart from US from where we are getting the maximum revenue will be the deciding factors for phenomenal growth.

1) South America, African Countries and, middle east will be the deciding factors.
2)    Focus has to be on the products against HIV, Oncology, Neurosciences & Respiratory drugs.

 

The biggest human source we have is the largest number of chemists & chemical engineers produced by the Indian Colleges and strong IT support but we are still not good in Biology in spite of large number of biology students which depicts that there is only one Indian company able to produce bio-similar products at the international level. Where the growth prospect is much bigger for biologics & bio similar.

We have to understand that pharmaceutical sector has already done a great service to the world and country. It needs                acknowledgement          and       encouragement.

Four out of Ten generic medicines in USA are made in India.

 

Article Categories:
Medicine

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