GG News Bureau
New Delhi, 29th Dec. The Indian pharmaceutical industry, valued at US$58 billion, plays a crucial role in the nation’s economy, contributing equally from exports and the domestic market. As the world’s leading manufacturer, India accounts for 20% of global generics sales, establishing itself as a manufacturing hub. In 2024, the sector has seen sustainable growth, driven by the Production Linked Incentive (PLI) schemes aimed at fostering self-reliance and creating global champions. Notable developments include the launch of greenfield projects for Penicillin G and Clavulanic acid, vital for healthcare security and diversified supply chains.
Quality remains a top priority in the sector, with the implementation of revised Schedule M standards enhancing manufacturing quality. Government initiatives, including technological assistance and awareness programs, are driving this agenda forward. India recently hosted the International Conference of Drug Regulatory Authorities (ICDRA), strengthening international regulatory collaboration.
Looking ahead, innovation will continue to be a key focus, with the Promotion of Research & Innovation Programme set to catalyse breakthroughs. Leading companies are diversifying into specialty portfolios and higher-value drugs, with discoveries like Nafithromycin and Saroglitazar leading the charge. India’s regulatory reforms are also paving the way for a more efficient R&D ecosystem.
The sector is making strides in cutting-edge therapies like CAR-T cell therapy, mRNA vaccines, and complex molecules, which present vast growth potential. The expiration of patents for blockbuster biologics by 2025 offers new opportunities in the biosimilars market. India’s Contract Development and Manufacturing Organisations (CDMOs) are emerging as preferred global partners for biologics, thanks to their cost advantages and regulatory compliance.
India’s pharmaceutical market is expected to grow to US$120-130 billion by 2030, driven by innovation, quality improvements, and expanded global reach. With favorable policies and a wealth of demographic and digital talent, India is set to play a leading role in advancing global healthcare in the years to come.
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