Indian Pharma Industry Growth Trend 2023-2024

Do you know the Indian pharmaceutical industry is worth approximately US$ 50 billion with over US$ 25 billion of the value coming from exports and this value is growing every day? ??

Yes, India is thriving at its best in the pharmaceutical industry. We play an integral role in the global pharmaceutical industry. Also, India is ranked third in pharmaceutical production globally.?

So, let's take a quick view on some amazing Indian Pharmacy Industry growth trends:?

?? Market size of India's pharmaceuticals industry is expected to reach US$ 65 billion by 2024, and ~US$ 130 billion by 2030?

?? Largest provider of generic medicines globally?

?? Occupies a 20% share of the global supply of generic medicine?

?? Supplies over 50% of Africa’s requirement for generics medicine, ~40%? in the US and ~25% in the UK

?? 3rd largest destination for biotechnology in the Asia Pacific

?? Among the top 12 destinations for biotechnology globally

?? Fulfills about 60% of the global vaccination demand

?? Highest number of US-FDA-compliant Pharma plants outside of the USA?

?? Home to more than 3,000 pharma companies with a strong network

?? Rich in a highly skilled resource pool

P.S.? Since 1992, Globela Industries has been manufacturing quality yet affordable pharmaceutical products for 42+ nations. By doing so, we are making a significant contribution to the Indian pharmaceutical market and ensuring high-quality yet affordable medicines for patients.?