Pharmaceutical & Healthcare Industry - KEEPING GOOD HEALTH

The corona virus pandemic drew everyone’s attention to the need for basic medical facilities across the country, elevating the pharmaceutical and healthcare industries and compelling the government to pay greater attention to them. Mandar Wagh describes how being a major participant in terms of both volume and value globally, the government’s emphasis and initiatives all contribute to the success of the industry

- Mandar Wagh

The pharmaceutical and healthcare sectors have unquestionably remained resilient despite the unreliable market, and their stocks have continued to outperform. The enormous potential created by the need for vaccinations and medical services on a global scale as a result of the corona virus pandemic accelerated the industry’s growth while continuous government focus and initiatives added to the industry’s optimism. The Indian pharmaceutical and healthcare industry offers significant economic contribution to the country. Hospitals, medical devices, telemedicine, medical tourism, health insurance, clinical trials and outsourcing are all part of the Indian healthcare industry.

The hospital industry in India, which accounts for 80 per cent of the country’s overall healthcare market, is experiencing tremendous investor demand from both domestic and foreign investors. The largest health insurance scheme in the world, Ayushman Bharat, is backed by the Indian government. In India, there are more than 1.5 lakh Ayushman Bharat centres in operation, with the goal of bringing primary healthcare services to communities closer to their homes. The Indian pharmaceutical industry offers more than 60,000 generic brands. Generic medications, over-the-counter medications, API and bulk drugs, vaccines, contract research and manufacturing, biosimilars and biologics are some of the major segments of the industry.