In terms of domestic consumption, and also as a significant player on the global market, the Indian pharmaceutical industry has become a powerful force. In this success story, the role of pharma export companies is crucial. We will look at the size of the Indian market, growth trends, pharma supplier database in India, and global value in this blog and explore how databases can help India's pharmaceutical exporting companies to grow.
Over the past years, India's pharmaceutical industry has grown significantly and its contribution to the global pharmaceutical market is impressive. India is the world's biggest supplier of pharmaceutical products and accounts for a significant share of the market, according to industry reports. In terms of exports, the value of India's medicine exports during the period from 2020 to 21 was 24.44 billion USD. (Courtesy: Pharma Adda) Factors like cost effectiveness of production, an experienced workforce and adherence to international quality standards can also contribute to the high growth.
Currently, the Indian pharmaceutical industry's market size is approximately USD 50 billion. India's exports of medicinal products increased by 103% between 2013 and 2014 with the value of INR. 90,415 Crores in 2013-14 to INR 1, 83,422 Crores in 2021-22. It's an extraordinary increase, with exports up almost USD 10 billion in 8 years. (Courtesy: Press Information Bureau)
India's pharma export companies, which exports highest quality generic medicines to numerous countries, have made significant progress in international markets and increased global pharmaceutical industry growth rate. India is the world's largest manufacturer of generic drugs and it has exported medicines worth more than USD 25 billion during 2023. (Courtesy: Statista)
In shaping the success of this industry, a number of important players in India's pharmaceutical export market have contributed significantly. Global leaders in the pharmaceutical sector are companies which provide quality products, list of pharmaceutical export companies in India comprises of Sun Pharmaceutical Industries, Dr. Reddy's Laboratories, Cipla and others who export a wide range of medicinal products. They have established themselves as reliable suppliers to the worldwide pharmaceutical market through their commitment to quality, R&D and compliance with International Regulation.
Databases in India play a key role in the growth of export companies for pharmaceuticals. They provide a wealth of information that can be applied to the analysis of competition, market trends, price movements and tariff optimization.
Details on global buyers and suppliers of APIs and chemicals, product details, business data, regulatory information, as well as real time updates are available in the Chemxpert database. This information will help to source and market products, support business development, and contribute to regulatory functions.
With continued growth expected, the future of India's pharmaceutical exporting companies looks promising. The industry is expected to grow as a result of factors such as the growing demand for generic medicine export from India, advances in R&D and focus on expanding market shares. In order to allow businesses to adapt to the changing regulatory environment and market requirements, it will continue to be crucial that databases are used strategically in order to sustain this growth.
Indian pharmaceutical supplier companies have strongly established themselves on the world market, amd also became very important component in India's economy. The requirement for proper data management through pharmaceutical databases is highlighted by the increasing trend in the sector, driven by market forces and technological progress. Databases plays a crucial role in ensuring compliance with legislation, operational efficiency and promotion of R&D as these companies innovate and expand their reach around the world. In a highly competitive global pharmaceutical market, this will be crucial for their continued success.