The market for drug discovery and development in India is at the stage of a rapid growth. This increase is attributed to the existence of favorable economic factors, rising healthcare spending, and growing pharmaceutical sector. The pharmaceutical industry of India is already a leader in manufacturing of generics and now progressing well in innovation in drug discovery. One of the reasons for this growth is the government support and its activity in this sphere. The programs are intended to position India as a single largest center for end to end drug discovery. Also, policies to promote FDI in the pharmaceutical industry have provided an opportunity for the new partnership and investment which has created a favorable environment for growth and advancement. Furthermore, the biotech firms are growing in number and there is an increase in the partnership between university and industrialists. These collaborations are vital in translating the research into salable pharmaceuticals products.

In the recent years, Indian companies are now eyeing new drug delivery systems, biopharmaceuticals and biosimilars, which are emerging as the key growth segments. The pandemic accelerated the development of effective vaccines and therapeutic drugs and exposed India’s strength and the need for a strong R&D environment. Today, India has a large and skilled human resource that can be easily leveraged by the pharmaceutical industry for affordable manufacturing costs that make it a favorite destination for outsourcing of the R&D activities by the global pharmaceutical companies. Another factor is the development of the country’s IT, which also remains an important factor for data-intensive drug discovery.

Keeping tabs on this market, India Pharma Outlook has shortlisted the select few companies from this sector that have exhibited an unrelenting pursuit of excellence. By proving their dedication to fulfilling customer expectations and contributing to the market’s evolution through their innovative disposition, these firms are blazing a trail.

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