![]() ![]() According to India Ratings & Research, the Indian pharmaceutical market revenue is expected to be over 12% Y-o-Y in FY22. In August 2021, the Indian pharmaceutical market increased at 17.7% annually, up from 13.7% in July 2020. The Indian pharmaceutical sector is worth US$ 42 billion worldwide. India is the world's largest supplier of generic medications, accounting for 20% of the worldwide supply by volume and supplying about 60% of the global vaccination demand. In the global pharmaceuticals sector, India is a significant and rising player. As of August 2021, CARE Ratings expect India's pharmaceutical business to develop at an annual rate of ~11% over the next two years to reach more than US$ 60 billion in value. The market is expected to increase at a CAGR of 37% from 2020 to 2025 to reach US$ 50 billion. India’s medical devices market stood at US$ 10.36 billion in FY20. ![]() The Indian biotechnology industry was valued at US$ 70.2 billion in 2020 and is expected to reach US$ 150 billion by 2025. India's biotechnology industry comprises biopharmaceuticals, bio-services, bio-agriculture, bio-industry, and bioinformatics. India’s domestic pharmaceutical market stood at US$ 42 billion in 2021 and is likely to reach US$ 65 billion by 2024 and further expand to reach US$ 120-130 billion by 2030. The largest number of FDA-approved plants outside the US is in India.Īccording to the Indian Economic Survey 2021, the domestic market is expected to grow 3x in the next decade. Indian pharma companies have a substantial share in the prescription market in the US and EU. The current market size of the medical devices sector in India is estimated to be US$ 11 billion and its share in the global medical device market is estimated to be 1.5%. About 500+ different APIs are manufactured in India, and it contributes 57% of APIs to prequalified list of the WHO. India is the 3rd largest producer of API accounting for an 8% share of the Global API Industry. This would represent almost 20% of the total pharmaceutical market in India. The biosimilars market in India is estimated to grow at a compounded annual growth rate (CAGR) of 22% to become US$ 12 billion by 2025. India is rightfully known as the "pharmacy of the world" due to the low cost and high quality of its medicines. Presently, over 80% of the antiretroviral drugs used globally to combat AIDS (Acquired Immune Deficiency Syndrome) are supplied by Indian pharmaceutical firms. The country also has a large pool of scientists and engineers with a potential to steer the industry ahead to greater heights. India enjoys an important position in the global pharmaceuticals sector. The domestic pharmaceutical industry includes a network of 3,000 drug companies and ~10,500 manufacturing units. Indian pharmaceutical sector supplies over 50% of global demand for various vaccines, 40% of generic demand in the US and 25% of all medicine in the UK. India has the most number of pharmaceutical manufacturing facilities that are in compliance with the US Food and Drug Administration (USFDA) and has 500 API producers that make for around 8% of the worldwide API market. Generic drugs, over-the-counter medications, bulk drugs, vaccines, contract research & manufacturing, biosimilars, and biologics are some of the major segments of the Indian pharma industry. The Indian Pharmaceutical industry is currently ranked third in pharmaceutical production by volume after evolving over time into a thriving industry growing at a CAGR of 9.43% since the past nine years. India is the largest provider of generic drugs globally and is known for its affordable vaccines and generic medications.
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