India is the largest provider of generic drugs globally and is known for its affordable vaccines and generic medications. The Indian Pharmaceutical industry is currently ranked third in pharmaceutical production by volume after evolving over time into a thriving industry growing at a Compound Annual Growth Rate (CAGR) of 9.43 percent since the past nine years. Generic drugs, over-the-counter medications, bulk drugs, vaccines, contract research & manufacturing, biosimilars, and biologics are some of the major segments of the Indian pharma industry.

Indian pharmaceutical sector supplies over 50 percent of global demand for various vaccines, 40 percent of generic demand in the US and 25 percent of all medicine in the UK. The domestic pharmaceutical industry includes a network of 3,000 drug companies and 10,500 manufacturing units. Formulations and biologicals continue to account for a major share of 73.31 percent in our total exports, followed by Bulk drugs and drug intermediates with exports of $4437.64 million. India’s top five pharma export destinations are the US, the UK, South Africa, Russia and Nigeria.

Pharma industry is a ever growing industry. The industry is ever growing due to outbreak of new diseases and microb attack. Researchers are going on, to find medicine for diseases like cancer and diabetes, and also to develop appropriate treatment for Alzheimer’s.

Industry Outlook in this...