India API Industry Market Growth, Trends Analysis & Forecast to 2026
Posted by Faraz on November 9th, 2020
Indian pharmaceutical industry is gaining momentum owing to significant contributions from generic brands, a wide range of API manufacturers, and robust demand for API post-COVID-9 pandemic. India is the largest provider of generic drugs around the globe. It supplies over 60.0% of the global demand for vaccines, 40.0% of the generic demand in the US, and 25.0% of all medicines in the UK, as per India Brand Equity Foundation (IBEF). APIs are now mostly imported from other emerging and developed markets in the country.
Get Free Sample Copy @ https://marketinsight.in/request-sample/india-api-market-industry-size
Indian API industry comprises a network of over 10,500 manufacturers and 3,000 pharma companies and holds the highest share in the generic drug market. Indian API industry is rapidly changing and there are various vital factors influencing these changes. India has more than 262 API plants, which is the largest number of US-FDA compliant pharma plants outside the US. India has around 1400 WHO-GMP approved pharma plants, 253 European Directorate of Quality Medicines (EDQM) approved plants with modern state of the art Technology which makes it attractive destination for pharmaceutical market players.
A Full Report of India API Industry is Available at: https://marketinsight.in/industry-reports/india-api-market-industry-size
India is gaining huge importance in API outsourcing across the globe owing to cohesive regulatory policies, favorable government initiatives, and growing investment from foreign market players. Globally, India is one of the top suppliers of bulk drugs and formulations. It has the highest number of US FDA approved plants (665) outside the US as well as 44.0% of the global abbreviated new drug applications (ANDA). Moreover, the API contract manufacturers are expanding their production facilities to meet the clients’ demands. These contract manufacturers include Lonza Group Ltd., Natco Pharma Ltd., and Olon S.p.A. For instance, in April 2019, Olon S.p.A., an API CDMO declared the acquisition of a manufacturing facility in Mahad, India.
About Market Insight
Marketinsight.in, a sub-division of Orion Market Research (OMR), is a determined market research firm that simply aims at providing services such as consulting, customize research, field research and a growth strategy plan to the Indian enterprises. It provides a complete suite of customized services focused on to bringing process efficiency and market effectiveness in its services.
Like it? Share it!
About the AuthorFaraz
Joined: November 26th, 2019
Articles Posted: 232
More by this author