India is the biggest generic drug provider across the globe. The pharmaceutical sector in India has been supplying more than 50% of the global demand for the Covid-19 vaccines, 25% of all the medicines in the United Kingdom, and 40% of the need for generic drugs in the United States. In this article, let us find out more about the pharmaceutical companies in India.
Pharma Companies in India -Facts and Statistics
On the global map, India ranks 3rd regarding pharmaceutical production by volume. It is 14th by value. There is a network of more than 3000 drug companies in the domestic pharmaceutical industry and as many as 10,500 units for manufacturing.
Pharmaceutical Companies – Market Size
According to data from the Indian Economic Survey of 2021, it is anticipated that the domestic market will grow three times in the next 10 years. The domestic pharmaceutical market was estimated at US$42 billion in 2021 and is expected to reach US$65 billion by 2024. By 2030, it is slated to become US$120 to 130 billion.
Biotechnology Market in India
The biotechnology industry in India includes bio-services, biopharmaceuticals, bio-industry, bio-agriculture, and bioinformatics. In 2020, the Indian biotechnology market recorded a value of US$70.2 billion; by 2025, it is expected to swell to US$150 billion.
Globally, the Indian pharmaceutical industry is rising and a key player. India constitutes 20% volume of the supply of generic medications. It is also supplying 60% of the global demand for vaccinations. The Indian pharmaceutical sector is valued at US$42 billion and is in the third rank when it comes to terms of volume. In terms of value across the globe, it is at 13th rank.
Key Players in the Indian Pharmaceutical Industry
The list of pharmaceutical companies in India happens to be long. However, the names of the key players in this sector include the following-
- Sun Pharmaceutical Industries
- Emcure pharmaceuticals
- Cipla Lupin
- Reddy’s Laboratories
- Aurobindo Pharma
- Piramal Enterprises
- Torrent Pharmaceuticals
- Glenmark Pharmaceuticals
- Zydus Cadila
In FY21, the exports of the Indian pharmaceutical industry stood at US$24.44 billion; until February 2022, it was US$22.21 billion. Being the 12th largest exporter of various medical goods across the globe, the pharmaceutical sector in the country contributes approximately 6.6% to the overall merchandise export.
India was found supplying a total of 586.4 lakh of Covid vaccines as of May 2021. It also included grants of 81.3 lakh and commercial exports of 339.7 lakh, and to as many as 71 countries exports under the COVAX platform worth 165.5 lakh.
Between April 2000 and December 2021, the Indian drugs and pharmaceuticals industry received cumulative FDI valued at US$19.19 billion.
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