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).
Denne historien er fra August 26, 2024-utgaven av India Today.
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Denne historien er fra August 26, 2024-utgaven av India Today.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Decoupling Dilemma
As Tensions Between India And China Thaw And The Trade Between Them Grows, India Faces The Tough Task Of Keeping Cheap Chinese Imports At Bay While Encouraging Those That Its Domestic Industry Needs
Killer Stress
Unhealthy work practices in Indian companies are taking a toll on employees, triggering health issues and sometimes even death
Shuttle Star
Ashwini Ponnappa was the only Indian to compete in the inaugural edition of BDMNTN-XL, a new international badminton tourney with a new format, held in Indonesia
There's No Planet B
All Living Things-Environmental Film Festival (ALT EFF) returns with 72 films to be screened across multiple locations from Nov. 22 to Dec. 8
AMPED UP AND UNPLUGGED
THE MAHINDRA INDEPENDENCE ROCK FESTIVAL PROMISES AN INTERESTING LINE-UP OF OLD AND NEW ACTS, CEMENTING ITS REPUTATION AS THE 'WOODSTOCK OF INDIA'
A Musical Marriage
Faezeh Jalali has returned to the Prithvi Theatre Festival with Runaway Brides, a hilarious musical about Indian weddings
THE PRICE OF FREEDOM
Nikhil Advani’s adaptation of Freedom at Midnight details our tumultuous transition to an independent nation
Family Saga
RAMONA SEN's The Lady on the Horse doesn't lose its pace while narrating the story of five generations of a family in Calcutta
THE ETERNAL MOTHER
Prayaag Akbar's new novel delves into the complexities of contemporary India
TURNING A NEW LEAF
Since the turn of the century, we have lost hundreds of thousands of trees. Many had stood for centuries, weathering storms, wars, droughts and famines.
