DUBLIN–(BUSINESS WIRE)–The “Impact of India on the Pharmaceutical Industry – Thematic Research” report has been added to ResearchAndMarkets.com’s offering.
India has the third largest pharma market in the world by volume, after the US and China, driven by its strong manufacturing capabilities. It is the world’s top vaccine manufacturer and among the largest producers and exporters of active pharmaceutical ingredient (API) and generics globally.
The country supplies over 60% of global vaccine demand, 40% of US generic demand, and 25% of all drugs in the UK. India has the third largest API industry globally, supplying 57% of APIs used by the World Health Organization (WHO) and its low-cost manufacturing of pharmaceuticals (about 33% lower than in western countries) continues to draw increasing foreign investment.
Approximately 97% of marketed products in India are generic and exports from India occupy 20% share by volume in the supply of generic medicines globally. Even though it is a leader in generics manufacturing, India lacks strong investment in the R&D of innovative drugs and needs to implement better-defined regulations to become more competitive in the biosimilars market.
The Indian biosimilars market is currently limited but will likely see moderate growth over the next few years, with 15 biosimilars currently in development. There is currently less focus on the domestic development of innovative drugs, as the industry is focused on manufacturing.
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