| |DECEMBER 20248TOP STORIESINDIA'S PHARMA SECTOR TO REACH $70.3B BY 2027, DRIVEN BY EXPORTS70 PERCENT OF GLOBAL PHARMA COMPANIES TO WITNESS OVER 10 PERCENT GROWTH IN INDIA BY 2028The pharmaceutical sector is projected to reach $70.3 billion, with a 9 percent growth expected from FY25 to FY27, fueled by rising exports to nations such as the US, as well as by new products introduced by Indian pharmaceutical firms. It is anticipated that the ratio of exports to domestic sales will stay at 51:49.The industry is expected to increase by $50 billion within three years (from 2027 to 2030), with the general consensus that the Indian pharmaceutical industry is on track for substantial long-term growth.According to CareEdge, there will be significant opportunities arising from patent expiries. Approximately $125 billion in total global drug sales are projected to lose patent protection from 2024 to 2026, creating a $3.5-4 billion market for generic medicines that Indian firms can benefit from.In addition, it is anticipated that the market share of contract development and manufacturing organisations will increase from $5-8 billion in FY24 to $7-13 billion by FY27, experiencing a compound annual growth rate (CAGR) of 13 percent to 18 percent. India's infrastructure and having the highest number of USFDA plants outside the US will help drive the growth. However, there is still a significant dependence on China for pharmaceutical imports, which remains a persistent worry, as 69 percent of bulk drugs imported by value came from China in FY25. POIn the upcoming five years, almost 70 percent of international pharmaceutical companies are predicted to experience yearly growth of over 10 percent in India. International pharmaceutical corporations have been essential in the change by bringing in advanced technologies, creating patient-focused initiatives, and putting resources into local production and research and development capabilities.The conference gathered industry executives, creators, researchers, and government officials to talk about India's growing influence in the worldwide healthcare sector. India is not only solidifying its status as a hub for global innovation but is also standing out as an economic success in the midst of global uncertainties.Priyanka Aggarwal, Managing Director and Senior Partner at BCG, remarked, "The Indian Pharma Market is poised to double by 2030, presenting significant opportunities for global pharmaceutical companies." The report highlights the importance of a customized approach specifically for India to achieve success in this distinctive market. Anirudh Tara, Managing Director & Partner at BCG, said, "Winning in India's healthcare market requires a deep understanding of local dynamics, from tailored pricing and patient access programs to strategic partnerships and empowering healthcare providers". PO
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