Indian pharmaceutical firms supplied 47% of all generic prescriptions in US in 2022

In 2022, Indian pharmaceutical companies supplied 47% of all generic prescriptions in the US, significantly contributing to affordable healthcare. They lead the market in providing generics, followed by the US (30%), Middle East (11%), and Europe (5%). Indian firms are particularly dominant in mental health, hypertension, lipid regulators, anti-ulcerants, and nervous system disorders, supplying over half the prescriptions in these categories. They also produced 15% of the biosimilars used in the US. Despite their lower presence in diabetes medicines (21%), Indian generics have greatly impacted cost savings and healthcare management, saving the US healthcare system US$ 219 billion in 2022 and US$ 1.3 trillion from 2013 to 2022, with an additional US$ 1.3 trillion in savings expected over the next five years.

The IQVIA report highlights the critical role of Indian pharmaceuticals in the US market but also flags the risk posed by reliance on Chinese API components, with 70% of these ingredients sourced from China. To mitigate supply chain vulnerabilities, the Indian Pharmaceutical Alliance (IPA) advocates for a stronger India-USA trade partnership. Mr. Sudarshan Jain, Secretary General of the IPA, emphasized the importance of collaboration between the two nations to enhance supply chain resilience and ensure the availability of affordable medicines. This partnership aims to reduce dependency on foreign sources and strengthen both countries' pharmaceutical sectors.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.