| |DECEMBER 20249TOP STORIESINDIA'S PHARMA INDUSTRY TARGETS USD 450 BILLION MILESTONE BY 2047LIFE SCIENCES MARKET SURGES WITH DEMAND FOR REAL-TIME DATA & COMPLIANCEIndia's pharmaceutical industry, known for being a major player in global healthcare, is projected to reach an impressive value of USD 450 billion by 2047. India continues to be a major player in the international pharmaceutical market, with exports valued at USD 27.85 billion.Industry experts attribute the notable growth to advancements in biologics, speciality generics, and AI-driven technologies, all of which are transforming the healthcare industry worldwide. India's pharmaceutical industry has emerged as a crucial export center, providing cost-effective, top-notch medications to over 200 nations. Experts in the field predict that by 2047, the industry will expand to become a USD 1 trillion industry, highlighting India's essential position in the worldwide healthcare supply chain.India's competitive advantage in the worldwide market comes from its efficient manufacturing capabilities, which are 30 percent to 35 percent cheaper than those in the United States and Europe. Furthermore, India offers a highly appealing location for global pharmaceutical companies due to its research and development (R&D) costs being 87 percent lower compared to developed markets. India, having a large number of skilled workers, is in a prime position to excel in both manufacturing and developing new ideas in the pharmaceutical industry. POThe growth of the global manufacturing execution system in life sciences market is due to the rising need for real-time data and analytics and increasing regulatory compliance. The pharmaceutical sector is quickly embracing digital technology, increasing the need for manufacturing execution systems, with Pharma 4.0 presenting a significant opportunity for the expansion of these systems in the life sciences industry. Pharma 4.0 improves information handling, adherence, efficiency, and communication to efficiently address obstacles.The life sciences market's manufacturing execution system focuses on software systems that record and monitor the manufacturing process in different industries. It monitors and stores pertinent information including data on employees, machine tools, and robots, and conducts real-time data analysis. Furthermore, the market is predicted to see growth due to the rising significance of following regulations, the surging adoption of industrial automation, and the growing demand for connected supply chains and mass production in pharmaceutical facilities.Tailoring treatments for individual patients based on genetic data, personalized medicine is a rapidly expanding field in the life sciences. MES can assist in the personalized manufacturing of medications and treatments through the handling of limited quantities and individual production cycles. PO
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