Currently, India is the largest provider of generic medicines, holding a market share of 20% to worldwide supply by volume and meets virtually 60% of the vaccine requirement around the world. Indian pharmaceutical companies also supply 80% of antiretroviral medications (utilized in fighting AIDS) in the international markets.
The ongoing pandemic has created an increase in healthcare centers, due to which new and old pharmaceutical firms in India have catered to the enormous need of the society.
The international pharmaceutical market is anticipated to surpass USD 1.5 Trillion by 2023. India enjoys a vital position in the worldwide pharma market. India provides more than 50% of the worldwide need for different vaccines and 40% of the demand for generic products in the United States.
India’s pharmaceutical spending is expected to expand at 8-11% CAGR during 2019-23 to reach 28-32 Billion US dollars.
The Top 10 Pharma Companies in India in the year 2020 are:
- Sun Pharmaceutical Industries Ltd
- Dr. Reddy’s Laboratories Ltd
- Divi’s Laboratories
- Cipla
- Aurobindo Pharma
- Torrent Pharmaceuticals
- Lupin Ltd
- Zydus Cadila Healthcare
- Abbott India
- Alkem Laboratories
