The pharma king of the world, India
Covid-19 outbreak has put all eyes on India when it comes vaccine production as India surfaces 60 per cent of vaccine demand of the world. The pharma king of the world, India, leaping ahead with 9.8 y-o-y is the largest provider of generic drugs globally supplying 40 per cent of generic demand in the US and 25 per cent of all medicine in the UK.
While, in recent years, India has been witnessing increasing competition from its neighbouring country, China, which it has been able to leverage due to its inherent cost advantage, manufacturing intermediates and APIs at a cost much lower than those in India which has resulted in a gradual increase in API imports from China to India from about 0.3 percent in 1991 to about 70 percent now which in turn has led to killing of domestic manufacturing capacity for certain key APIs and their advanced intermediates.
On the other hand, spurred by COVID-19 fear and heightened interest in preventative health, sales of vitamins, minerals, and herbal nutritional supplements like chavanprash and ayurvedic juices for boosting immunity have spiked in the market. Detailed video analysis by Mr. Deepak Pahwa, MD, Bry-Air, Asia and J Jayaseelan Chairman, Indian Pharma Association on the the Indian pharma industry.