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Five Factors that will drive growth in the Indian pharma sector in 2023
NSF Vice President Sanjay Shetgar looks at five issues driving growth in the Indian pharmaceutical sector in 2023. He considers how proactive quality management, training and education, agile regulatory management, and other elements will drive the success of the world's third- largest pharmaceutical industry.
Fast Facts About the Indian Pharmaceutical Industry
- Indian pharma is the third-largest pharma industry in the world.
- India is the world’s largest vaccine producer.
- It is the largest manufacturer and exporter of generic medicines.
- It has the highest number of U.S. FDA-compliant plants outside the United States.
- It supplies over 50% of Africa’s requirement for generics, almost 40% of generic demand in the United States and approximately 25% of all medicines in the United Kingdom.
- Revenue for the Indian pharma industry is expected to reach $65 billion by 2024 and $130 billion by 2030.
Multiple global factors impact companies’ ability to get raw materials and ship finished products to their destinations. COVID-19-related delays have been prevalent in recent years. However, in the summer of 2022, climate-related issues also impacted supply chains. There have been many reports in newspapers and other media on how rivers, particularly those used as important shipping routes for world trade, have shrunk, causing shipping companies to take lighter loads to help ensure their passage along the way.
Sanjay Shetgar, Vice President, Pharmaceutical Services, NSF International
Sanjay Shetgar is Vice President of Pharmaceutical Services with NSF International. He has over 30 years of pharmaceutical management experience in both plant operations and corporate offices, working with Cipla, Dr. Reddy’s and Wockhardt in India. He has held senior positions as Vice President, Head of Global Corporate Quality, and Senior Vice President, Head of Operations Quality with Dr. Reddy’s and Wockhardt. His experience includes APIs, intermediates, and various drug product forms, including biologics.
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The National Science Foundation (NSF) is an independent federal agency created by Congress in 1950 "to promote the progress of science; to advance the national health, prosperity, and welfare; to secure the national defense…" With an annual budget of more than $8 billion, NSF is the funding source for approximately 20 percent of all federally supported basic research conducted by America’s colleges and universities. In many fields such as mathematics, computer science and the social sciences, NSF is the major source of federal backing.
