Pharmaceutical Exports from India - Statistics & Facts

Pharma Industry In India: Overview

The Pharma industry is the backbone of the healthcare network in every country of this world. The Indian pharma sector has been successful in creating a robust and reliable healthcare sector that has penetrated even the remotest regions in the country. As of February 2021, the value of the Indian pharma sector was estimated to be worth 42 billion dollars.

Other than medicines, pharmaceutical products in India like nutritional supplements, hospital equipment, medical diagnostic equipment and certain healthcare services that form a part of the pharma industry. Due to strong work ethics, stringent laws and labour friendly amends, the Indian pharma sector has made a good name for itself at a global level. India is not only successfully meeting the demands of pharma products and services for its own countrymen, but is also becoming one of the lead exporters of pharma products to other countries.

Foreign Demand For Indian Pharmaceuticals

Indian medicines are in great demand in several foreign countries including the USA, UK and Russia. India is the third largest exporter of overall pharmaceutical products and the largest exporter of generic medicines all across the globe. Research claims that in 2021 pharma exports from India grew by 18.7%, and were worth around 24.44 billion dollars.

The demand for certain drugs has increased substantially thanks to the ongoing COVID-19 pandemic. India has a major share in rolling out antipyretics, antibiotics, antivirals and other medicines that are in great demand nowadays, to other countries.

Reports suggest that almost half of the world’s vaccines are manufactured and supplied by Indian pharma companies. As of 2021, the UK relies on India for over 25% of their total pharmaceutical imports.

Reliable quality of pharma products, low production cost, strong advertising strategy and industry friendly labour laws are some of the reasons foreign countries choose to import their pharma supplies from India.

Not only pharmaceutical exporters in India, but the Indian economy in general can reap the benefits of increased foreign demand for Indian pharma products. The Indian economy relies to quite an extent on the performance of the pharma industry, and rightly so. Reports have even claimed that India has potential to become the next ‘World Pharmacy’.

For anyone who is armed with the right skill set, India is a land of opportunities to taste success in the pharma sector.

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