How is India leading the pharma industry with the Top pharma exporters in India?
Pharmaceutical Company

How is India leading the pharma industry with the Top pharma exporters in India?

The Indian pharmaceutical industry has come a long way from being an import-dependent to becoming a self-sufficient manufacturer and one of the world’s major exporters. Today, the Indian pharmaceutical business is the world’s third-biggest by volume, with a market value of more than $42 billion.

Top pharma exporters in India export medicines to around 206 countries, with the United States being the most important export destination, followed by Africa and Europe. It is a vaccine production leader, supplying more than 60% of worldwide vaccination demand. The Indian pharmaceutical industry’s goods continue to enhance health outcomes for patients globally, with an export value of $24.44 billion (2020-21). This has been made feasible by the Government of India’s policy initiatives and the entrepreneurialism of Indian business.

The Government of India recognized the pharmaceutical business as a rising sector of the economy in the recent Union Budget 2022, which is predicted to triple in the next decade. The pharmaceutical business is expected to reach $65 billion by 2024, according to the Indian Economic Survey 2021-2022. By 2030, the sector hopes to be worth $120-130 billion. In order to do this, the industry may begin on a strategy of developing India’s worldwide leadership in life sciences while promoting greater local access and affordability.

Let’s see how India is leading the pharma industry.

Top Pharma Exporter in India Leading the Pharma industry

The best Indian pharma companies, such as JoinHub Pharma, have made a global impression by their price competitiveness and high quality, which has resulted in India producing 60% of the world’s vaccines and 20% of generic medications. Another interesting statistic is that around 55 percent of India’s pharmaceutical exports are too highly regulated. Indian pharmaceutical exporters also have a significant presence in the prescription market in the United States and the European Union.

Even after global trade interruptions and a reduction in demand for COVID-19-related medications, the growth of pharmaceutical exports has increased. The trade balance goes in India’s favor, with a USD 15175.81 million surpluses. India is ranked third in terms of output and fourteenth in terms of value. The Indian pharmaceutical industry is currently worth roughly USD 50 billion.

Formulations and biologicals account for around 73.31 percent of our overall exports, followed by bulk medicines and drug intermediates, which account for USD 4437.64 million. The top 5 pharma export destinations for India are the United Kingdom, South Africa, Nigeria, Russia, and the United States.

Despite the COVID crisis, the Indian pharmaceuticals and drugs business had a rapid expansion, with exports reaching USD 24.4 billion, increasing 18 percent year on year. The astonishing export growth accomplishment in 2020-21 was accomplished despite regular lockouts, global supply chain disruptions, and a weak manufacturing sector. As part of the trade accords, India signed a cooperation deal with the UAE and Australia, which will provide Indian pharmaceutical products with greater access to these markets.

Export to America

North America continues to be the biggest market for Indian medicines, accounting for more than 34% of total sales. Exports to the USA, Canada, and Mexico increased by 12.6 percent, 30 percent, and 21.4 percent.

African exports

Exports to Africa grew 13.4 percent, compared to 2.24 percent growth in the previous fiscal year. South Africa has emerged as India’s second-largest market for medicines. Exports to the country climbed by 28%, with Nigeria, Kenya, and Tanzania serving as the other key African markets.

Leading the Post-Pandemic World

After making major contributions to generics, the pharmaceutical industry is now set to enhance its innovation and research and development (R&D) abilities in order to deliver cutting-edge medicines at competitive rates. It’s time to transition from “Make in India” to “Discover and Make in India.” The emphasis would be on boosting R&D and innovation, smart manufacturing, fostering policy changes, driving digital transformation, and cultivating useful collaborations.

Foster policy reforms

A robust and efficient regulatory environment, such as having a “single window system,” eliminating several regulatory organizations, and developing precise rules, is critical for a healthy innovation environment. Following the pandemic, it is necessary to continue a conversation between the regulator and the industry, for example, through pre-approval discussions, regular industry meetings, and rolling reviews.

Focus on R&D and innovation

The Indian pharmaceutical industry, which accounts for two-thirds of the world pharmaceutical market, would need to move up the value chain and focus on innovation. By 2047, the Indian pharmaceutical industry must develop a robust innovation pipeline (5-7 novel molecular entities and 10–12 innovation releases per year).

To that end, the business is increasingly branching out into sophisticated generics and specialized pharmaceuticals. The goal is to increase Indian pharma’s significance in biologics, new drug development, and innovation and improve skills in biological sciences, information technology utilization, cell and gene therapy, and other areas focused on patient requirements.

Digital transformation

Enhanced patient care, cost-effectiveness, better transparency, improved production, and drug research all require digital transformation. AR/VR, artificial intelligence (AI), machine learning (ML), 3D printing, and additive manufacturing are supporting pharma businesses in speeding up the research and development process, running testing in less time, adding newness to goods, and enhancing production efficiency and compliance. Because of the growing usage of digital technologies, telemedicine, and app-based ecosystems, supply chains are also becoming more patient-centric.

Nurture valuable collaborations

During the COVID 19 outbreak, the government, academia, and pharma businesses supported research efforts. The regular feedback, integrated efforts, sharing, and persistent discussion between industry stakeholders and government authorities worked successfully, and this engagement should continue in the future.

Focus on exports

In the future, it will be vital for the industry to consolidate existing significant export markets while also exploring new ones. In this scenario, Indian embassies overseas might be excellent facilitators. At the same time, policies in India would need to focus on assisting the industry in becoming more competitive in the export market through policy instruments such as RoDTEP and PLIs and incentivizing R&D and innovation in the pharma sector.

The Road Ahead

India has a technological edge and world-class industrial capabilities that have been developed through time. This capability is crucial in regulated and science-driven industries, where the rate of change is likely to accelerate over the next two decades. The ability to adjust quickly will be critical to remaining competitive.

Indian business has proved its dedication to patient welfare, particularly during the epidemic, and will do so in the future. Nonetheless, the key to supplying excellent medications at cheap rates will be to be a technological leader and exploit India’s demographic advantage to become a life sciences hub.

Looking for a reliable pharma exporter in India? Partner with JoinHub Pharma. We are the trusted pharma exporter, supplier, and wholesaler from India. We manufacture and sell high-quality branded and generic medicines at affordable rates and improve people’s health across the world.

Want to know more about pharmaceutical exports or pharma product manufacturing? Simply drop us a line at [email protected].

Our pharma exports will get in touch with you within 24 hours.

Pharmaceutical Export in India: Key Strengths and Pharma Leaders
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Pharmaceutical Export in India: Key Strengths and Pharma Leaders

The pharmaceutical exporters in India are growing steadily, and the future looks even brighter. With fewer challenges and more opportunities for the Indian Pharmaceutical companies, the export sector will surely add to their business significantly.

Trade experts feel that pharma exporters in India need to keep up with the innovation and aggression to stay ahead of competitors like China. The internal and external markets show buoyancy with a few signs of caution.

Strengths of The Indian Pharmaceutical Exports

India has one of the lowest manufacturing costs and is one of the fastest-growing, as far as pharmaceutical products are concerned.

The increasing support from the government for the pharmaceutical industry and a steady rate of growth in revenues are all working in favor of the industry.

There are four key competitive advantages of the Indian pharmaceutical industry include:
  • Availability of raw material
  • Skilled workforce
  • Low cost of innovation
  • Extensive Distribution Network

India has skilled technicians and pharma experts who are adept at English. This decreases the cost of innovation, documentation, and manufacturing compliance.

The Generic Advantage

The best Indian pharma companies mainly cater to the generic drug market. The main focus of pharmaceutical exporters in India includes:

  • Generic Drugs
  • Active Pharmaceutical Ingredients
  • OTCs
  • Patented Drugs
  • Biosimilars

India is among the largest generic medicine exporter globally. According to FactSet, the total Indian Research investment in generic drugs increased by 3.8% of sales in 2010 to $12.55 billion.

Top Pharmaceutical Exporters in India

Here is the list of the top generic pharma exporters in India that offer a wide range of pharma solutions across the world.

JoinHub Pharma

JoinHub Pharma is one of the best Indian pharma exporters, with its headquarters in Ahmedabad, Gujarat. They are engaged in exporting generic medicines and supplies of a broad range of pharmaceutical products. JoinHub Pharma sells high-quality pharmaceutical products and ingredients at an affordable rate and is ranked in the list of top 10 pharma companies in India.

JoinHub’s portfolio contains more than 1,300+ products across multiple therapeutic classifications, including treatments for chronic, acute, and rare conditions. As leading pharmaceutical exporters, all facilities are WHO-GMP certified and have EU GMP certification, complying with international standards. It has a WHO-GMP-certified manufacturing unit in India and sells products in more than 25+ countries.

Sun Pharmaceutical Industries Limited

Sun Pharmaceuticals is a reputed brand in the Indian pharma segment. Founded in 1983, it is one of the staple pharma exporters with a cumbersome fold of pharma solutions.

This pharma company offers comprehensive services to communities via well-researched and attested products. It utilizes cutting-edge technologies to develop high-quality drugs by keeping the costs as low as possible.

Glenmark Pharma Limited

Established in 1977, Glenmark Pharma Limited puts quick strides in the pharma sector to accomplish and maintain prominence. Its only vision is to become the leading pharmaceutical exporter in India.

Glenmark Pharma contains 15 manufacturing units as well as 3 Research & Development centers to ensure communities are being served with quality-centric products. The company exports API products in more than 65 global nations, including the USA, South America, Europe, and India.

Abbot India Limited

Abbot India is another crucial organ of the top pharma exporters in India list. It serves society with high-quality medical facilities across several therapeutic categories such as metabolic disorders, women’s health, cardiology, gastroenterology, and more.

Additionally, Abbot India functions impeccably towards its goal of helping people achieve the best health status. Abbot India assures us to implement the best formulation practices and technologies to avoid any mishaps on the route.

Cipla Limited

With more than 34% market share, Cipla Limited is an essential wing of the Indian pharmaceutical industry. It was founded in 1935 with the noble goal of helping people with superior quality medical solutions at affordable rates. Also, Cipla is amongst the industry leaders who practice innovative technologies to obtain something useful for humanity.

Reach out to JoinHub Pharma – a leading Pharmaceutical exporter from India, today to know how we can help you fulfill your pharma product needs!

Guide On Medicine Export From India to Other Countries
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Guide On Medicine Export from India to Other Countries

The pharmaceutical industry in India is one of the largest globally, helping generic supply medicines to several countries worldwide. In terms of sheer volume, India ranks 3rd globally, whereas, in terms of value, it ranked on number 13. Over the years, India has proved itself as a global pharmaceutical exporter in India and research hub.

The export of pharma medicine from India has grown steadily in recent years and has become a growing business opportunity. The expected value of generic medicine exports from India has increased and grown at a compound annual growth rate of 22.4%. Let’s look at how pharmaceutical medicine manufacturers can export medicine from India efficiently without facing any legal disputes.

Pharmaceutical Exports and Advantage India

  • Pharmaceutical export from India stood at US$ 17.27 billion in 2017-18 and is expected to grow by 30 percent to reach US $20 billion by the year 2020.
  • Exports of pharmaceutical products together stood at US$ 10.80 billion during April-October 2018.
  • In April-October 2018, the top importers of pharmaceutical products were the USA (US$ 3.21 billion), South Africa (US$ 367.35 million), the UK (US$ 383.30 million), Russia (US$ 283.33 million), and Nigeria (US$ 255.89 million).
  • India has ranked in the top 3 pharmaceutical markets in terms of incremental growth in 2020.
  • India is the biggest supplier of generic medicines globally (20% to 22% of global export volume)
  • India has one of the lowest medicine manufacturing costs in the world.

List of Medicines Exported from India

Here is the list of medicines that are exported from India:

  • HIV,
  • Oncology,
  • Neurosciences, and
  • Respiratory drugs.

Procedure to Export Medicines from India

Only registered pharmaceutical export companies can export medicines from India according to the Foreign Trade Policy.

First, the pharma exporters in India need to register with the Director-General of Foreign Trade and apply for an Import/Export Code.

Once they have all the required documents, the business owners must reach out to individuals from importing countries and find an interested buyer or vendor.

Next, they’ll have to go through the importing country’s laws and register their pharma product in that country legally to prevent complications later.

Once they get approval from the importing country, they should obtain the same from the Drug Controller General of India. These are mandatory as drugs or medicines are serious commodities that impact consumers’ overall well-being and health.

The business owners need to research and finalize a shipping method that will work for them. The best Indian pharma companies must ensure they rely only on reputed agencies to export their products to prevent unnecessary delays and major issues.

Once all these formalities are completed, the company will have to wait for the buyer or vendor to finalize the purchase order. Similarly, the buyer will send a proforma invoice containing the product details, packing required, and freight details, along with the order confirmation.

Then, the company needs to draft a commercial invoice against this purchase order or Letter of Credit based on how they plan on financing the order.

Next, the business owners must sign a contract with the shipping or freight forwarding agency to ensure efficient order fulfilment.

After finishing the documentation process, the last step is customs clearance which can be easily handled by appointing an agent. Likewise, once the products receive customs clearance, they will be shipped to the importing country and distributed as required.

JoinHub Pharma – A Leading Pharmaceutical Exporter from India

JoinHub Pharma ranked in the top 10 pharma companies in India, with its headquarters in Ahmedabad, Gujarat. JoinHub Pharma sells pharmaceutical products and ingredients. They export branded and generic medicines.

JoinHub’s portfolio consolidates more than 1,000 pharma products across multiple therapeutic categories, including treatments for acute, chronic, and rare conditions. All of its facilities have EU GMP certificates and comply with national and international standards. They have a WHO-GMP-certified manufacturing unit in India and markets products in more than 100 countries, with over 85% of its revenue coming from overseas.

Reach out to pharma exporters in India today! Just drop us a line at [email protected] or call us directly.

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