The World's Pharmacy
Posted on AUGUST 4, 2021
The Indian pharma industry has achieved significant growth in both domestic & global markets during the past five decades. From contributing just 5% of the medicine consumption in 1969 (95% share with the global pharma), the share of “Made in India” medicines in Indian pharma market is now a robust 80% in 2020. More importantly, during the same period, the country has also established leading position in the global generic pharmaceuticals landscape & is now known as the “Pharmacy of the world”.
The pharma industry in India contributes more than 20% by volume of the global generics market & 62% of the global demand for vaccines. Popularly called the “archetype of affordable healthcare,” the industry has significantly contributed towards improving public health outcome, both in India & across the globe.
Indian Pharma Industry has grown 10 times in the last two decades driven by its strength in the global generics space.
Growth from US$4.2b in 2000 to US$41.7b in 2020.
India contributes 40%-70% of the World Health Organization’s (WHO’s) demand for Diphtheria, Pertussis & Tetanus (DPT) and Bacillus Calmette–Guérin (BCG) vaccines, & 90% of the WHO demand for the measles vaccine.
India exports vaccines to more than 150 countries.
The country accounts for 40% of the generics demand in the US & 25% of all medicines in the UK. India also fulfils about 80% of global demand for antiretroviral drugs for Acquired Immune Deficiency Syndrome (AIDS), significantly contributing towards increasing accessibility of AIDS treatments.
India is the source of 60,000 generic brands across 60 therapeutic categories.