Last Updated: March 25, 2019
Last Updated: February, 2019
Indian pharmaceutical sector industry supplies over 50 per cent of global demand for various vaccines, 40 per cent of generic demand in the US and 25 per cent of all medicine in UK. India contributes the second largest share of pharmaceutical and biotech workforce in the world. The pharmaceutical sector in India was valued at US$ 33 billion in 2017. India’s domestic pharmaceutical market turnover reached Rs 129,015 crore (US$ 18.12 billion) in 2018, growing 9.4 per cent year-on-year (in Rs) from Rs 116,389 crore (US$ 17.87 billion) in 2017.
With 71 per cent market share, generic drugs form the largest segment of the Indian pharmaceutical sector. Domestic API consumption is expected to reach US$ 18.8 billion by FY22. The country accounts for the second largest number of Abbreviated New Drug Applications (ANDAs) and is the world’s leader in Drug Master Files (DMFs) applications with the US Indian Drugs & Pharmaceuticals sector has received cumulative FDI worth US$ 15.83 billion between April 2000 and June 2018.
Indian drugs are exported to more than 200 countries in the world, with the US as the key market. Generic drugs account for 20 per cent of global exports in terms of volume, making the country the largest provider of generic medicines globally and expected to expand even further in coming years. India’s pharmaceutical exports stood at US$ 17.27 billion in FY18 and US$ 13.94 billion in FY19 (up to December 2018). In 2018-19, these exports are expected to cross US$ 19 billion. 31 per cent of these exports from India went to the US.
The Government of India plans to set up a US$ 640 million venture capital fund to boost drug discovery and strengthen pharmaceutical infrastructure. The ‘Pharma Vision 2020’ by the government’s Department of Pharmaceuticals aims to make India a major hub for end-to-end drug discovery.
In Nov 2018, Cipla’s subsidiary in the United States has ordered two steps to acquire Avenue Therapeutics Inc. for around an estimated Rs 1,563 crore ($215 million).
Indian pharmaceutical sector is expected to grow at a CAGR of 15 per cent in the near future and medical device market expected to grow $50 billion by 2025
Under Budget 2019-18, allocation to the Ministry of Health and Family Welfare increased by 13.1 per cent to Rs 61,398 crore (US$ 8.98 billion).
Indian Drugs & Pharmaceuticals sector has received cumulative FDI worth US$ 15.90 billion between April 2000 and September 2018.
The Contract Research and Manufacturing Services industry (CRAMS) – estimated at US$ 17.27 billion in 2017-18, is expected to reach US$ 20 billion by 2020.
The government has allocated Rs 31,745 crore (US$ 4.64 billion) towards the National Health Mission under which rural and urban people will get benefited.
Click to access the Pharmaceuticals Industry Archived Report
Last Updated: March 25, 2019
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