The pharmaceutical industry is important for economic development in India. The pharmaceutical industry can be subdivided into manufacturers of branded drugs, generic drugs, non-prescription drug, and biopharmaceutical products and contract research firms. Universities, hospitals, and research centers play an invaluable role in helping pharmaceutical firms in R&D activities.
The pharmaceutical industry in India is growing rapidly. India is the largest supplier of generic medication. The Indian pharmaceutical industry was valued at 36.7 billion dollars in 2018. There are over 3000 pharmaceutical companies in the country with 10,500 manufacturing facilities. India has one of the lowest manufacturing costs in the world. The major pharmaceutical hubs in India are:-
The global sale from exported drugs and medicines was 371.3 billion dollars in 2018. According to pharmaceutical export data India is the tenth-largest exporter in the world and exports 3.5% of the total drugs and medicines exports.
According to the Department of Pharmaceutical, Ministry of Chemicals and Fertilizer the pharmaceutical export data the export revenue was 19.14 billion dollars in 2019. The exports showed a 10.72% jump when compared to the previous export figure in 2018 (17.28 billion dollars). Pharmaceutical exports are one of the major exports in the country accounting for 5% of total exports by India.
The pharmaceutical export data India is compiled from custom ports around the country. The data contains data such as:-
India is the largest provider of generic drugs in the world (20 to 22% of the global export volume). According to the pharmaceutical export data of India the India pharmaceutical industry supplies over 50% of the global demands of vaccines, 40% of generic drugs to the US, and 25% of all medicines to the UK.
India exports a variety of pharmaceutical products. The product breaks India’s export category wise break up was:-
The region-wise export shows that the North American region is the largest export region (6.145 billion dollars), followed by Africa (3.436 billion dollars), and EU (3.03 billion dollars). The top pharmaceuticals exporting partners of India account for 56.5% of the total pharmaceutical exports. The major exporting partners are:-
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