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In a population of over 1.2 billion, the penetration of diseases is high as a majority of the population is outside the reach of effective healthcare or cannot afford it. Nonetheless, the government has come up with several initiatives to ensure healthcare becomes cheaper and accessible for all and as a result, the pharmaceuticals and healthcare industry in India are likely to grow. Talking particularly about the Bio-pharmaceuticals industry in India, the market is ripe for growth and with many advancements in technology taking place, new and improved versions of biomedicines to cater to life threatening diseases are being worked upon. Let us take a look at some of the upcoming trends in this space. 1) Believe it or not, but currently India is responsible for supplying nearly 80% of the anti-retro viral drugs used globally to combat AIDS (acquired immunodeficiency syndrome). 2) The country’s generic drug producers hold a very strong position and are responsible for maintaining the global supply chain which plays an integral role in developing the pharmaceutical industry worldwide. 3) India’s regulatory policies support 100% FDI through automatic route in Greenfield as well as brownfield project approvals for the Bio-pharmaceuticals industry in India as well as the world. 4) More than 200 countries in the world depend on Indian export of pharmaceuticals produce to sustain their healthcare needs. 5) As soon as branded drugs started going off patent since 2017 and continues to be so till end of 2019, India’s export of generic drugs has more than doubled and is catering to a large [part of demand that comes from the United States. 6) Given India’s regulatory environment which allows the pharma sector to breathe, developed countries are increasingly investing in Indian pharma sector in order to sustain their business, which is suffering due to strict regulatory pressure in their own countries. There are several other factors that make the growth opportunities of the Bio-pharmaceuticals industry in India high. We will discuss them in our upcoming blogs.
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