As the world's third-largest manufacturer of medicines by volume and the largest generics exporter, India has substantially impacted global healthcare. We provide cost-effective medicines to millions worldwide, with approximately one in three' pills consumed in the US and 'one in four' in the UK being produced in India. Our success in delivering accessible HIV treatment and low-cost vaccines has garnered international acclaim, earning India the well-deserved title of the 'Pharmacy of the World.' This success stems from our expertise in small- and large-molecule drug research and manufacturing, our ability to produce high-quality medicines at affordable prices, and our swift adaptation to global health crises, such as the Covid-19 pandemic.
The growth of India's pharmaceutical exports is impressive, increasing from -$19 billion (Rs 1.6 lakh crore, at the current exchange rate) in FY19 to -$28 billion (Rs 2.4 lakh crore) in FY24. However, India's 14th rank in terms of value highlights the potential to climb further up the value chain. To shift the sector from volume-based to value-based global leadership, it is crucial to grasp the potential that lies ahead for this industry.
The emerging opportunity: As non-communicable diseases like cancer and diabetes become major health challenges, biologics are emerging as the standard of care. Biologics, a crucial component of interventional medicines, are projected to comprise almost 40 per cent of all pharmaceutical spending by 2028 when global spending on medicines is expected to reach -$2.3 trillion (Rs 193 lakh crore).
Esta historia es de la edición August 26, 2024 de India Today.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición August 26, 2024 de India Today.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Beware The New Big Con
Cyber Criminal Networks, Often Based Abroad, Are Now Leveraging Technological And Psychological Tools To Weave Elaborate Stings With Fake Cops And Enforcement Authorities To Deprive Unsuspecting Victims Of Their Entire Life Savings
A Cut Above the Rest
Oft ignored, the ceiling in a room is so much more than a necessity
THE GRAND STAND
This atypical bachelor pad for Delhivery's Sandeep Barasia is all about balancing art with form, aesthetics with functionality and materiality with context
50 SHADES OF WHITE
From ivory to ecru, TV actor Ankita Lokhande and reality TV star Vicky Jain's apartment in Mumbai is all about a fresh and clean feel
"GOOD DESIGN IS EFFICIENT, BEAUTIFUL AND PROBLEM SOLVING"
Known for creating thoughtfully crafted spaces, architect Jaskaran Singh takes us through the legacy he was born into
HITCHED AT HOME
From offbeat décor to eco-friendly design elements, an intimate wedding runs high on undeniable charm and unique sentiments
ROOM TO BLOOM
Bring wedding festivities indoors with flowers and hues that set the mood for this beautiful tablescape
THE RITE CHOICE
Move over heaven, well-designed and stylish marriages require the Abu Jani Sandeep Khosla touch. They share how to ace this space.
Twist on Tradition
Stylish storytelling, vibrant vistas, trendy textiles and modern magic, wedding decor is a beautifully crafted and personal tale today
TROUSSEAU TROVE
From preserved flowers to bountiful hampers, what you give the bride and groom will set the tone for their life ahead