Home Industry Pharmaceutical Industry in India 2021 | Pharma Sector

Pharmaceutical Industry in India 2021 | Pharma Sector

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Pharmaceutical Industry in India contributes to ~2% of the global industry The global pharmaceutical market is expected to exceed USD 1.5 Trillion by 2023, and the key growth drivers will continue to be the US and the emerging economies.

Pharma Industry in India

India enjoys a key position in the global pharmaceutical industry. The country is the world’s largest supplier of generics, accounting for 20% of global exports. It supplies over 50% of global demand for various vaccines and 40% of the demand for generic products in the US.

Pharmaceutical Industry

The Indian domestic pharmaceutical market contributes to ~2% of the global industry in value and ~10% in volume terms.

Pharmaceutical Industry in India 2020

The domestic pharmaceutical industry has received foreign direct investment (FDI) worth ~US$ 16 Billion on a cumulative basis, between April 2000 and June 2018.

India’s pharmaceutical spending is predicted to grow at 8-11% CAGR in the 2019-23 period to reach a size of US$ 28-32 Billion. A part of this growth will depend on the ability of companies to align their product portfolio towards therapies for chronic diseases that are on the rise

Pharma Industry in India

Active Pharmaceutical Ingredients (API)

APIs are chemicals and biologically active elements of drugs with a direct impact on cure, mitigation, treatment and prevention of diseases. The worldwide API market is likely to exceed US$ 225 Billion by 2024 – a 6% CAGR for the forecast period.

Drivers include increasing incidence of chronic ailments, growing volumes of generic drugs worldwide and rising technological advancements in API manufacturing.

Consumer healthcare

Consumer healthcare providers deal with products in

  • wellness,
  • oral health,
  • nutrition,
  • skin health.

These include over-the-counter (OTC) drugs. Globally, a large number of acquisitions, mergers and shutdowns has resulted in industry consolidation, with market share being concentrated within the top 10 firms. The Global OTC market was valued at $135 Billion in 2018.

Two top markets, the US (US$34 Billion) and China (US$25 Billion) accounted for ~44% of the global market.

Vitamins, minerals & supplements and the cough, cold & allergy segments account for more than 50% sales of OTC products globally.

1 COMMENT

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