Indian Pharmaceutical Industry Market Industry Growth, Trends, Insights and

Posted by Faraz on November 10th, 2020

The global pharmaceutical industry includes biological, medicinal, and pharmaceutical products in various forms, such as tablets, capsules, ampoules, ointments, powders, solutions, and suspensions. The overall pharmaceutical market is segmented into prescription-based products and over-the-counter medications. In addition, it can be segmented into branded drugs and generic drugs.

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India with an established domestic pharmaceutical industry is among the leading global producers of cost-effective generic medicines and vaccines. The pharmaceutical industry in India produces a range of bulk drugs that account for roughly one-fifth of the industry output. The generic drug producers of India hold a strong position in the global supply chain and play a significant role in the pharmaceutical industry growth. Some of the major domestic players in the industry include Sun Pharmaceutical Industries, Dr. Reddy’s Laboratories, Cipla, Lupin, Aurobindo Pharma, Zydus Cadila, Piramal Enterprises, and Glenmark Pharmaceuticals.

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Growth Drivers for the Indian Pharmaceutical Industry:

  • Innovation and R&D: Development of new complex generic drugs, supplemented by the New Drugs and Clinical Trial Rules and the Atal Innovation Mission
  • Medical Tourism: Quality services offered at marginal costs compared to the US, Europe, and South Asia
  • Infrastructure Development: India has the highest number of US-FDA compliant pharma plants outside the US
  • Strong Drug Manufacturing: Expertise in low-cost generic drugs and a movement towards end-to-end manufacturing
  • Pharmaceutical Cluster: Andhra Pradesh, Gujarat, and Maharashtra are some of the major pharmaceutical clusters in the country

About Market Insight, 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.

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Joined: November 26th, 2019
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