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.
The figures above show the excellent position the sector is in. Nevertheless, there are threats to the success of the industry. This webinar looks at two specific areas that threaten the industry’s success and that companies need to be mindful of as we head into 2023.
The two specific areas that are of most concern and that we will address in this webinar are:
- Supply chain
- Quality
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 have 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.
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