Industry overview
With improved technology bases, stronger infrastructure
development and an eclectic range of manufactured products, the
pharmaceutical industry in India has witnessed enormous progress. The
country’s ability to produce cost-effective drugs combined with its
top-notch manufacturing facilities has also ensured a rising demand for
exports. Pharma companies today have manufacturing facilities that are
compliant with Good Manufacturing Practices (GMP), for the production of
several dosage forms, and India’s production list now includes bulk
drugs from major therapeutic groups which demand complicated processes.
Current industry
Pharmaceutical is a non-cyclic industry that has grown
steadily over the past few years. The sector is highly organised with a
host of multinational and domestic companies increasing operations in
India. With rising consumption levels and a strong demand from export
markets, the Indian pharmaceuticals industry has shown consistently
phenomenal growth in the past few years. India possesses the largest
number of manufacturing facilities approved by the US FDA outside the
USA and at present, tops the list in filing drug master files (DMF) with
the US FDA. The industry is estimated at about US$ 10 billion, and is
advancing at an annual rate of 9%. The domestic industry stands fourth
in terms of volume and thirteenth in terms of value in world rankings.
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