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Pharma Contract Manufacturing in India: A Booming Industry

Admin
6 May 2024

Introduction

As a result of cost effectiveness, regulatory compliance, and specialized expertise, the global pharmaceutical industry is experiencing a significant shift towards outsourcing production. In this context, India is emerging as a major player in contract pharmaceutical manufacturing on the basis of its experienced labor force, solid infrastructure and favorable legal environment. We will look at different aspects of the booming industry in this blog, highlighting its considerable contribution to global drug supply chains.

The Rise of Indian Pharma Contract Manufacturing

India provides cost effective and quality contract manufacturing services. It has become a key player in the pharmaceutical industry. In the case of the Indian pharmaceutical Contract manufacturing organizations, here are some key points:

1. Market Size and Growth:

In 2024, India's CMO market size is expected to be valued at US22.71 billion and will grow by 14.67% over the forecast period with an annual growth rate of USD 44.63 billion till 2029. (Courtesy: Mordor Intelligence)

2. Increased Demand of Injectable Medicinal Products

The growth of the Indian pharmaceutical contract manufacturing market can be attributed to increased demand for injectable medicinal products, especially with regard to cancer research. Compared to similar formulations, injectable medicinal products offer a better return.

3. Opportunities for SMEs:

SMEs in India have significant opportunities within the pharmaceutical CMO sector.
The potential for growth in this sector is recognized by the Indian Drug Manufacturers' Association.

4. India’s Role in Global Pharma Supply:

The world's biggest supplier of generic drugs is India, which accounts for some 60% of vaccination worldwide.
The country is contributing 20% of the world's vaccine supplies.
The major subsectors of the Indian pharmaceutical industry are OTC medicinal products, generic medicines, Active Pharmaceutical Ingredients and vaccines, biosimilars or custom research manufacturing.

Government Initiatives and Incentives:

A support programme for the pharmaceuticals sector has been set up by the Government of India.
Improving infrastructure facilities is a focus of the Strengthening of the Pharmaceutical Industry initiative.
FDI inflows into the Indian pharmaceutical and healthcare sectors amounted to USD 1,414 million during the period from fiscal year 2021 to 22.

5. Late-Stage Clinical Trials and Cost Savings:

India has become a suitable protocol for drug synthesis and late-stage clinical trials
Drug Technical Advisory Board grants waivers for Phase III studies of some drugs from US and European regulated markets resulting in cost savings to pharmaceutical companies.

6. Market Value:

• Approximately USD 5.3 billion is estimated to be the current market value of Indian pharmaceutical contract manufacturing, which accounts for 50 % of domestic production. (Courtesy: Pharmaadda)

Chemxpert Database

The Chemxpert database provides comprehensive information on approvals and regulatory applications in the pharmaceutical contract manufacturing sector. For the production of active medicinal products and for their commercialization there are a number of applications which have been identified by regulated authorities. In addition, Chemxpert provides pharmaceutical companies with valuable information on buyers, suppliers, market sizes, clinical trials, regulatory insight and price trends.

Conclusion:-

In conclusion, the Indian pharmaceutical contract manufacturing industry is still thriving and providing a competitive advantage to global pharmaceuticals firms that are looking for trusted cost effective and productive partners. India continues to be a key player in the Global Pharmaceutical Supply Chain, thanks to its strong infrastructure, skilled labour force and supportive government policies.