The report has been released in collaboration with the Indian Pharmaceutical Alliance (IPA).

• India’s Status: Ranks 3rd in volume and 14th in value globally. It's the top producer of generic drugs (20% of global demand) and supplies 60% of the world's vaccines.

Key Highlights of Report

• Mega trends have been observed in India’s pharmaceutical industry (Refer Infographic).
• Opportunities in Areas like:
  • Active Pharmaceutical Ingredient (API): China’s API export dominance faces decline due to policies like the US Biosecure Act. India, with cost advantages, can capture 20-30% of China’s lost market share.
    • API: Biologically active component in a drug that produces the intended therapeutic effect.
  • Biosimilars: Indian pharma holds less than 5% (Global biosimilars market is estimated $30 billion); but India is leveraging initiatives like the National Biopharma Mission & and Genome Valley expansion (Telangana).
    • Biosimilars are medicines closely resembling biologic drugs, which are produced using living systems like yeast, bacteria, or animal cells, offering similar structure and function.
  • Vaccines: India's focus on affordable vaccines limits high-income market penetration; therefore, aim is to increase global share from 1.5% to 8% by 2047 through innovation, brand building, etc.