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Pharmaceutical Industry in India

About the Indian Pharma Industry

The Indian Pharma industry is a rapidly growing market sector, ranking fourth in sales volume and 13th in value globally. India produces 20-24% of the generic drugs in the world market. The pharmaceutical industry in India is growing at approximately 8-9% per year and it is estimated to be worth $4.5 billion. Ranking high in technology, product superiority, and diversity of drugs manufactured the Pharma industry in India is poised to grow even more in the coming years. Indian Pharma holds a 72% market share in the manufacture of generic drugs making it the largest manufacturer of generic drugs globally.

The export of India's pharmaceutical products has grown at a Compound Annual Growth Rate of 26.1% equivalent in value to 10.1 billion US dollars with generic medications accounting for 20% of the exports. India is currently exporting drugs to more than 200 countries; with a strategic market share in the United States.  In other words, India is the largest supplier of generic drugs worldwide with this growth expected to continue.

The Pharma industry in India includes more than 20,000 registered companies, resulting in intense price competition. With 70% of the pharmaceutical market controlled by 250 top pharmaceutical companies, the principal in the market holds almost 7% of the market share. Due to a commitment to world class standards in drug quality and the low cost of production the Pharma industry in India is the up-and-coming center of the pharmaceutical industry with world-class research and manufacturing facilities.

Why is India the Hub of Generic Drug Production?

Technologically solid and completely self-sufficient, the Indian Pharma industry has low R&D costs, low production costs, innovative scientific talent, strong national laboratories, and a growing balance of trade.

  • Technology and Information Network: India has world-class educational institutions and an established concentration in Information Technology.
  • Globalization: India supports a free market economy and globalization. In particular, it has a continuously growing middle class market.
  • Expert workforce: India has work force that has high managerial and technical expertise; that is highly educated and English is commonly spoken.
  • Cost-effective chemical production: Its history of drug development, particularly in the area of improved cost-effective chemical fusion for various drugs is excellent.
    Strong Financial Market and Sound Legal Framework: India has an established international industry and business community.
  • Consolidation: With great pharmaceutical opportunities, the international pharmaceutical industry, has begun the process of consolidation in India, a widespread practice in the world pharmaceutical industry

With its world class scientific work force and research potential, support of the Intellectual Property Protection Administration, the Indian Pharmaceutical Industry is poised to challenge the global market.

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