1、For updated information,please visit www.ibef.orgNovember 2024Pharmaceuticals2Executive Summary3Advantage India 4Market Overview 6Recent Trends and Strategies13Growth Drivers18Opportunities 27Key Industry Contacts29Appendix31Table of Contents3Executive summarySource:News Articles,Make in India,Press
2、 Information BureauNote:BIRAC-Biotechnology Industry Research Assistance Council3.Among fastest growing industriesDuring FY18 to FY23,the Indian pharmaceutical industry logged a compound annual growth rate(CAGR)of 6-8%,primarily driven by an 8%increase in exports and a 6%rise in the domestic market.
3、The Indian pharmaceutical industry has seen a massive expansion over the last few years and is expected toreach about 13%of the size of the global pharma market while enhancing its quality,affordability,andinnovation.Indian pharmaceutical sector is expected to grow at a CAGR of 22.4%in the near futu
4、re.The government hasset ambitious target to boost the medical devices industry in India,aiming to elevate it from its current US$11billion valuation to US$50 billion by 2030.India is the second-largest contributor of global biotech andpharmaceutical workforce.Exports of drugs and pharmaceuticals re
5、corded a strong y-o-y growth of 9.7%during April-March FY24.1.Leading pharma producerAccording to a recent EY FICCI report,asthere has been a growing consensus overprovidingnewinnovativetherapiestopatients,Indian pharmaceutical market isestimated to touch US$130 billion invalue by the end of 2030 an
6、d US$450billion market by 2047.Indiaranks3rdworldwideforpharmaceutical production by volume and14thbyvalue.Thecountryhasanestablisheddomesticpharmaceuticalindustry,with a strong network of 3,000drugcompaniesand10,500manufacturing units.543212.One of the highest exportsIndiasdrugsandpharmaceuticals e