Pharmaceutical Exports
pharmaceutical exporters

Can Indian Pharmaceutical Exports Develop Post Corona Virus Chaos?

India is extremely cautious in resisting the transmissible spread of coronavirus compared to other developed countries like the United States, China, etc. The nation is consistently restricting mobility from a foreign land, tracing contacts, executing lockdown, and so on. The top medicine exporter from India is making efforts to send necessary medicines to other countries.

India is in a better position in restricting the virus spread by taking all the precautions. The nation is experiencing lesser death. It has created ample opportunities for Indian pharmaceutical exports. The firms have achieved 15.3%in the financial year of 2020-21. Pharmaceuticals Export Council of India, Pharmexcil has opined that the Indian pharma export firms can reach the mark of $25 billion.

 

Pharmexcil’s view about Indian pharma exporters:

The director-general of Pharmexcil, Mr. R UdayBhaskar opined that generic formulations cover over 70% of pharma exports of India. The exports of pharmaceuticals in the financial year of 2019 and 20 reached $20.5 billion of which over 75% are generic formulations. Vaccines and APIS are also exported. Approximately $28 billion can be touched by FY22. The medicine manufacturers in India produce pharma products at a large scale.

 

Investment in the healthcare sector:

The investors are showing more interest in investing in other nations’ outward development of healthcare sectors. It is due to the present advantage of India with respect to pharmaceutical production. India is providing medical training and sending technical expertise to other nations where the healthcare system is not up to the mark.

In fact, many international NGOs and non-state actors dealing with public health are making use of generic drugs produced in India. The affordable cost of treatment is the primary reason behind it.

To take a few names, a humanitarian organization named Doctors without Borders has done an estimation concerning AIDS treatment with the use of generic drugs from India which is at least two to three times affordable compared to other brands of other developed nations. This is not the end as globally recognized organizations like UNITAID and UNICEF depend heavily on Indian generic drugs for various programs.

 

Indian pharmaceutical company has great potential for trading:

The pharmaceutical companies in India have greater potential in increasing trade partners domestically and internationally. The government is giving encouragement through investment in the research and development of the pharma sector in India. Medical colleges and universities are progressing in this regard. The Indian government is providing a large number of incentives to the private sector for increasing pharma production for the purpose of export.

 

Medicine manufacturers in India are successful in multiple ways:

India is undoubtedly growing as a pharmaceutical supplier. It has become the largest generic medicine provider in the whole world. The country is presently occupying approximately 20% share in the worldwide supply by volume. Indian medicine manufacturers are supplying 62% of the global demand for necessary vaccines.

Currently, India holds the 3rd rank globally for pharma production by volume. Also, the nation holds 14th rank for production by value. The largest number of pharma plant which is US-FDA compliant are located in this country. The number exceeds 262 which includes APIs.

Presently, India is blessed with:

  • 2000+ WHO-GMP approved pharmaceutical plants
  • 253 European Directorate of Quality Medicines approved plants
  • 60,000 generic brands covering 60 therapeutic categories
  • 500+ Active Pharmaceutical Ingredients or APIs

The API industry in India ranks 3rd in the world as it contributes 57% of APIs to WHO’s prequalified list.

 

Pharma company in India in post coronavirus world:

Though we are still being forayed by COVID 19, yet the consistent growth of the pharmaceutical medicine suppliers from India has shown a positive light on the development of the pharma industry. The whole world is giving attention to the evolution of healthcare right now to curb the current COVID 19 and upcoming horrors.

Global public goods including healthcare security is urging nations to look for partners with a competitive advantage in offering medical expertise for proper treatment, essential drugs, capacity building for in-state medical aids, offering medical service to other countries, etc.

 

Conclusion:

The top pharma companies in India are doing extremely well in the sphere of pharmaceutical exports and medical tourism. They are working very hard at meeting the fundamental aim of offering global clients with utmost flexibility, adaptation, and detailed focus on all the steps. The investors and clients using drugs manufactured by these pharmaceutical medical suppliers are getting the best return on investment.

Countries like UAE, Mali, Zimbabwe, Nigeria, Sri Lanka, Vietnam, Afghanistan, Kuwait, and many other nations are coming forward to import generic medicines, injectables, APIs, and other pharmaceutical products from India at a reasonable price. Therefore, medicine manufacturers in India need wide-ranging reorientation in the global commitments and priorities ranging from domestic and international channels.

Indian Pharmaceutical Company
Pharmaceutical Company

Investing in an Indian Pharmaceutical Company – A Profitable Deal

India is doing extremely well in the pharmaceutical industry for over a few decades. The basic reasons are the availability of affordable labor and raw materials in abundance. The top pharma companies in India are discovering new molecules and bringing new medicines on board to curb various diseases and pathogens making human and animals’ life better than ever.

Medicine manufacturers in India have become a blessing for the business holders and shareholders due to the world’s dependency on India for APIs and other types of medicines. India supplies over 50% of the vaccines of the world. The UK receives 40% of generic medicine and the UK obtains 2% of all medicines from this country. It leaves no doubt that the industry of pharmaceuticals is growing by leaps and bounds and many business holders are eyeing it to make a massive profit.

A statistical view of the Indian pharma industry:

India is a country to deliver the 2nd largest share of biotech and pharma labors to the entire world. 2019 has greeted Rs. 1.4 lakh crore of domestic pharma market turnovers. In 2018, it was Rs 1.29 which indicates there was a 9.8% increase in a single year. Indian pharmaceutical export companies have employed a huge number of employees in various departments to perfectly cater to the needs of manufacturing and export medicines to all other parts of the world.

The sales of pharma products reached 9% (Rs 10,342 crore) in this year’s May. Moving Annual Total based calculation depicts that in December 2019, the pharma industry was at a growth of 9.8% with a price hike of 5.3%, and a volume hike of 2% y-o-y.

New Indian pharmaceutical company is emerging:

The colossal growth of the pharma industry has urged many business holders to invest in it and hence, many new Indian pharmaceutical companies are starting their journey in the league. Over 200 countries throughout the world import pharma products from India paving the golden way for any medicine exporter from India to increase their activities.

India is considered the most substantial provider of generic medicines globally. It consistently maintains its supremacy in this field making itself a hope for the investors. Again, owing to the growing number of pathogens and various diseases, the top pharma companies in India are intensifying their research and development, and manufacturing medicines on a large scale. Some of the best medicine manufacturers in India, for instance, JoinHub Pharma and others, are commercializing innovative therapies to curb the patients’ suffering.

Moreover, the price is kept affordable so that people of all economical strata can purchase medicines and other pharma products. In fact, the companies are looking after the improvement of the Indian pharmaceutical exports to reach every corner of the world where medicines and injectables are needed.

Therefore, it leaves no doubt that medicine manufacturers in India are business people’s dream. By this year’s September, the country has exported a record worth of US$ 11.80 billion of pharma products. As per the statistical prediction, the medical devices industry is constantly growing by at least 15.2% annually and can come to US$ 25 billion by 2025.

Unquestionable development of pharmaceutical medicine suppliers:

The top pharma companies in India that manufacture, pack, and supply medicines are committed completely to acquire the right quality at a rapid speed. Plus, they adopt cost-effective procedures at each stage of development. These firms are experts in industrialization and make sure that the end products are okay for manufacturing and commercialization at a large scale. The stakeholders can save a lot of money and time by investing in these firms.

Infact, the Government of India (Department of Pharmaceuticals) has launched Pharma Vision 2020 with the conceptualization of making India a comprehensive drug discovery hub. Under Union Budget 2020-21, the Ministry of Health and Family Welfare has allocated Rs. 65,012 crore indicating massive development of this industry.

Again, the project managers of the high profile Indian pharmaceutical company are deeply concentrating on the needs of customers. The focus is also on the timely delivery of the drugs including tablets, injections, capsules, ointment, oral liquid, suspensions, external preparations cream, nasal drops, eye, and ear drops, etc.

Furthermore, the coronavirus has made it immensely necessary to have multivitamins and minerals supplement on a regular basis. The top-notch medicine manufacturers in India are keen on manufacturing multivitamins and minerals along with hand sanitizers and protective masks to stop the deadly virus from entering the body and attack the immune system.

 

Conclusion:

The pharma industry in India will touch $65 billion by the year 2024 as per prediction. Any accredited and certified Indian pharmaceutical company is actively involved in contract manufacturing drug intermediates and active pharma ingredients and is making an unparalleled track record in the international market. The current focus is more on pharma innovation backed by ground-breaking science. All these aspects result in a positive opportunity for the investors to invest in the top medicine manufacturers in India making the country become number 1 in the pharmaceutical industry.

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