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Indian Pharma Industry

Pharmaceutical Sector: Introduction

In the words of Richard Gerster, the famous economist and activist from Switzerland, Indian pharmaceutical industry can be defined as a success story providing employment for millions and

ensuring that essential drugs are available at affordable prices to the vast population of Indian sub-continent.

The Indian pharmaceutical industry has witnessed a growth rate of about 10% over the last few years and is expected to touch US$ 12 billion by 2010. Pharmaceutical industry has given employment to approximately 2.86 million people and has around 20,053 units. Globally, India is 4th in terms of volume (8% of world's production), 13th in terms of value, and 17th in terms of pharmaceutical export value.

The drugs and pharmaceuticals exported are worth over US$ 3.8 billion.

India produces bulk drugs related to various therapeutic areas. Indian pharmaceutical industry manufactures over 400 bulk drugs and roughly 60,000 finished medicines used in different formulations.

India is emerging as a global leader in the area of outsourced clinical research and contract manufacturing & research. Contract research is increasing at the rate of 25% per year, and is

expected to touch US $380 billion by 2010.

The highly fragmented Indian pharmaceutical industry has around 30,000 players, out of which 330 are in organized sector.

Indian pharmaceutical industry exports its products to more than 200 countries, including highly regulated markets of Europe, Japan, USA and Australia. The Good Manufacturing Practices (GMP) developed by the industry facilitates the production of different dosage forms.