Infographic on the Growth of Pharmaceutical Industry in India

• India’s cost of production is nearly 33 per cent lower than that of the US
• Labour costs are 50–55 per cent cheaper than in Western countries. The cost of setting up a production plant in India is 40 per cent lower than in Western countries
• Cost-efficiency continues to create opportunities for Indian companies in emerging markets & Africa
• India has a skilled workforce as well as high managerial & technical competence in comparison to its peers in Asia
• India has the 2nd largest number of USFDA-approved manufacturing plants outside the US
• India has 2,633 FDA-approved drug products. India has over 546 USFDA-approved company sites, the highest number outside the US

• Growing per capita sales of pharmaceuticals in India offers ample opportunities for players in this market
• Per capita sales of pharmaceuticals expanded at a CAGR of 17.6 per cent to US$ 33 in 2016
• Economic prosperity would improve affordability for generic drugs in the market & improve per capita sales of pharmaceuticals in India

Note: CAGR - Compound Annual Growth Rate

Source: BMI