Growth expectations
In the light of increased demand, innovation and technological advancements the global pharma sector is expected to grow to reach over 3 trillion dollars by 2032. In line with global growth the value of India's pharma sector especially
listed companies is expected to grow. All over the value of domestic pharma sector is expected to hit 130 billion dollars by 2030 and 450 billion dollars by 2047.
listed companies is expected to grow. All over the value of domestic pharma sector is expected to hit 130 billion dollars by 2030 and 450 billion dollars by 2047.
Outlook regarding
For the following major factors and reasons among other facts are increasing the demand for India's pharma and healthcare products and services.
Demand aspects - myth and reality
Stong domestic and global demand are increasing for pharmaceuticals and healthcare solutions of India. The overall domestic pharma industry is set for substantial growth. Rising conditions like cancer, diabetes and infectious diseases among population globally have will increase the demand for India's pharma products in future.
Technological background
Innovation and technological advancements like Artificial Intelligence, advanced data analytics and machine learning have contributed much to drugs discovery, product quality and product visibility regarding indian pharma sector to meet changing consumer demand.
Research for new
Moreover the Indian pharma industry has focused on value driven research for improving active pharmaceutical ingredients and key starting material manufacturing. Indian pharma sector's sustainable manufacturing practice have increased its demand.
India's pharma industry is engaging skilled, research oriented and committed workforce for maintaining quality of the product and integrity of the industry.India have also accomodated skilled workforce from other countries in the pharma sector employment for filling talent gaps and keeping the pharma and healthcare industry competitive.
India's liberal and accomodative policy towards labours and employment in pharma industry will increase its ability to innovate new product and services and grow the industry.
Government support
For the last 10 years India's governmental policy and initiatives are in favour of strengthening of the pharma industry. India's resilient and transparent supply chain infrastructure is good enough for reducing the risks from counterfeit and fake pharma and healthcare products. India government is adopting a policy for reducing manufacturing costs of pharma and healthcare products.
India's efforts to control spreading of COVID -19.
Since COVID-19 pandemic India sustained it's importance as pharmacy of the world by providing generic medicines , vaccines and other life saving products.
Export of pharma products
India is a global player in pharma and healthcare products. By sustaining it's role as the pharmacy of the world India exporting it's pharma products globally also by serving markets like United States of America and United Kingdom.