On the current pharmaceutical sector the generic drug have a
significant value for its modern technology with accurate efficacy, easy
available and cheaper price in drug delivery system. On the 20th century global
pharmaceutical evaluation every country started to pull up their pharmaceutical
sector on producing different kind of drugs with different dosage form to lead
as a world pharmaceutical leader.That competition show a big positive sign for
world healthcare sector.
A generic drugs also must contain same active ingredient which is cheaper and
also equivalent as innovator drug. On today’s world the generic drug is more
popular for patient’s & respective country for its low investment and more
capability & economical counter parts on reducing over all healthcare cost.
Today
about 50% of all the drug in global market are generic. About 88% of the
prescriptionin U.S were generic. In India the branded generic accounts for 90%
value on its market. Country like U.S, U.K, Japan, Canada, Austrellia holds a
great generic market share globally with their manufacturing units like Pfizer,
Mylan, Gsk, Teva, Abbot, Novartis Sonafi etc.
On currently India hold 3rd position globally on producing quality generic
drug. India manufacturing units in pharma holds 5th position as a global pharma
generic drug manufacturing other also also Lupin, Zydus, Ipca, Cipla, Dr.Reddy,
Aurobindo pharma holds a great position globally as a generic drug producer on
world, India is the largest generic medicine provider globally, occupyinga 20%
share in global share on volume. The country India is home to 3000 Pharma
companies with a strong network over 10,500 manufacturing facilities. India is
the source of 60000 generic drug brands across 60 therapeutics categories &
manufacturing more than 500 different API’s. the export of generic drug is one
of India’s core strength.
The
India pharmaceutical industry received foreign direct investment worth USD15.72
Between April 2000-2018 march.
On
currently India is a great choice for a llleading MNC pharma company for
expanding their pharmaceutical sector. The U.S is biggest generic export
destination for India, which supply 40% of U.S. generic drug needs. Now a day
India is a superior for global generic pharma. India export 50% global demand
for various vaccines & 25% medicines in U.K. India also largest vaccines
producer in world, largest Bio-pharmasector with top medical device producer in
Asia.
The country has a large pool of scientist & engineer to spear the industry
a head to an even higher level. Currently India supplies medicines to global
for treating lifestyle disease like Diabetes, Cancer, Malaria, Hypertension,
AIDS, Gout, Epilepsy and many more and much cheaper price as compare to global
market value. Due to low treatment cost India also emerging as primary
destination for medical tourism.
