What Is The Pharmaceutical Industry

The Pharmaceutical Industry: A Comprehensive Overview

What is the Pharmaceutical Industry?

The pharmaceutical industry encompasses the discovery, development, production, and marketing of pharmaceutical products, including drugs and medications.

Key Segments of the Indian Pharmaceutical Industry

Contract Research and Manufacturing Services (CRAMS)

Active Pharmaceutical Ingredients (APIs)

Bulk Drugs

Formulations

Biosimilars

Global Pharmaceutical Industry Statistics

According to Grand View Research, the global pharmaceutical market was valued at USD 1,272.81 billion in 2021 and is projected to reach USD 2,366.94 billion by 2030, exhibiting a CAGR of 7.9% over the forecast period.

The United States is the leading pharmaceutical market globally, accounting for approximately 45% of the total market share.

The Pharmaceutical Industry in India

The Indian pharmaceutical industry, valued at USD 50 billion in 2022, is the third largest in terms of volume and the 14th largest by value globally.

The industry is driven by strong government initiatives to increase healthcare access and affordability.

India is a major exporter of generic drugs, supplying nearly 20% of the global demand.

Conclusion

The pharmaceutical industry plays a vital role in providing essential medicines and treatments for various diseases worldwide.

The Indian pharmaceutical industry is a key player in this global market, contributing significantly to healthcare innovation and affordability.