Pharmaceutical medicine suppliers are the present hope of the entire world: Truth or Gimmick?

1. Pharmaceutical medicine suppliers are the present hope of the entire world: Truth or Gimmick? Currently, the global players dominating the pharma industry cannot make a mistake of ignoring India. As per a prediction of experts, this country will become the most populous in the entire world by the year 2050. India will definitely make a solid mark as a developing market along with becoming a powerful competitor or partner in manufacturing medicines, and research and development. In fact, certain medicine manufacturers in India have already started taking measures for reaching a larger number of population through reduction in the prices of drugs. In the near future, India will require various types of drugs. Epidemiological changes in India: India is confronting epidemiological changes like any other emerging country. As per an estimation, 199 million Indians will be 60 years of age or older by the year 2028. India is leading in contract manufacturing: In the domestic market, contract manufacturing is a robust segment. The top pharma companies in India boast multiple advantages over the Western firms. India is expert in manufacturing generic medicines through reverse engineering. It has help many pharmaceutical medicine suppliers to streamline the particular process of producing medicines and running the business successfully. Again, the costs are extremely competitive. Any accredited pharma company in India can efficiently operate on lower margins due to the affordable cost of labour and raw materials. Presently, India’s main strength in outsourcing lies in the production of APIs. In the future, some Indian pharmaceutical companies can immensely benefit by forwarding towards specialty Active Pharmaceutical Ingredients or APIs. The rise in Over-the-Counter Drugs in the recent years: The sale of OTC or Over-the-Counter drugs is increasing globally. The pharma companies operating worldwide are aggressively leveraging the brand equity that main products have obtained during the patent period. Additionally, the inclusion of primary winners in the category of OTC counts in the products where patients usually continue buying specific remedies suggested on doctor’s prescription earlier. Over-the-Counter drugs are considered as non-prescription drugs. The Drugs and Cosmetics Act regulates these proprietary drugs. These products are bound by the Drugs and Cosmetics Rules. Non chemists can sell these products and no drug license is required for selling OTC products. Hence, the sales channels are very extensive. Moreover, majority of the population in India believes in self-medication. The buying capacity of the middle class is rising. This particular trend has made it easier for Indian pharmaceutical exports to concentrate on formulations for cough and cold, analgesics, dermatologicals, and gastrointestinals. A few OTC active ingredients like ephedrine and its salts, and acetylsalicylic acid come under the present DPCO price control. Furthermore, Indian people are giving more importance on prevention and wellness due to the current Corona virus issue. Therefore, the sales of OTC vitamins and minerals have increased quite a lot. The market is flourishing. The top medicine exporter from India is focusing more on the profitable OTC drugs including multi vitamins and minerasl, artificial sweeteners, nutritional supplements, and emergency contraceptive pills. Indian pharmaceutical exports are meeting both domestic and international demand:

2. Top pharma companies in India have gracefully established themselves as competitive enough to cater the needs of both domestic and international market. India holds the glorious fifth position amongst the global manufacturing sites provisioning to the market of the US. India has the largest number of US-FDA compliant pharmaceutical plants. Most importantly, it is the home to approximately 1400 WHO-GMP approved pharma plants, and 253 European Directorate of quality Medicines approved plants. By volume, it stands as the third largest in the whole world. It can be concluded that the whole world is counting on pharmaceutical medicine suppliers from India at the present to cope with the growing need of generic and other drugs.