India Active Pharmaceutical Ingredients Market Growth is Accelerated by Increasing Generic Drugs Manufacturing

 

India Active Pharmaceutical Ingredients Market

Active pharmaceutical ingredients (APIs) form the basic component of finished pharmaceutical formulations and are manufactured on a very large scale in India to cater to the growing domestic and global demand for generic drugs. APIs are used in a wide range of prescription as well as over-the-counter medications for treating acute and chronic ailments across various disease segments. Increasing prevalence of lifestyle-induced chronic diseases, rising income levels, growing demand for cost-effective drugs, and the need for regular supply of essential medicines are propelling the Indian pharmaceutical industry's growth.

The India Active Pharmaceutical Ingredients Market is estimated to be valued at US$ 17 Bn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

 

Market Dynamics:

The robust growth of the Indian API market is primarily ascribed to rising demand for generic drugs worldwide. As India is one of the largest exporters of generic medicines globally and generic drugs industry accounts for nearly 20% of the global exports in terms of volume, the demand for APIs from Indian manufacturers is surging continuously. Additionally, growing geriatric population and rising prevalence of chronic medical conditions have further spurred the need for pharmaceutical formulations, thus positively impacting the API production in the country. The increasing healthcare expenditure and growing promotion of generic medicines by governments across nations are also augmenting the growth of the India active pharmaceutical ingredients market in recent years.

 

SWOT Analysis

 

Strength: The India active pharmaceutical ingredients market has a large pool of skilled workforce which contributes to low manufacturing costs. The low manufacturing costs allow Indian companies to efficiently produce high-quality APIs at competitive prices. In addition, the Indian government supports the growth of the domestic pharmaceutical industry through favorable policies and regulations.

 

Weakness: The India API market faces challenges in terms of inconsistent quality standards and compliance issues. Some local manufacturers lack adequate quality control procedures and sufficient monitoring of production facilities. This has led to increased regulatory scrutiny and import warnings from developed markets like the US.

 

Opportunity: There is huge growth potential in contract manufacturing as many large pharmaceutical companies are outsourcing API production to countries like India. Indian manufacturers can capitalize on this opportunity by improving their quality systems as per international standards. Further, with the growing incidence of diseases, there will be increased global demand for affordable medicines which can boost API exports.

 

Threats: Stringent regulatory changes in import markets pose compliance challenges for Indian exporters. Additionally, trade protectionism and localization trends in developed nations threaten export opportunities for Indian drug makers. Further, competition from other low-cost API producers like China can affect market share of Indian manufacturers.

 

Key Takeaways

 

The India Active Pharmaceutical Ingredients Market Size is projected to exhibit strong growth over the forecast period owing to a variety of factors.

 

Regional analysis: The Western region currently dominates India's domestic API market led by states like Gujarat and Maharashtra that are major pharmaceutical hubs. However, Northern and Southern regions are emerging as new hotspots with various state governments offering attractive incentives to drug makers.

 

Key players: Major players operating in the India active pharmaceutical ingredients market include Dr. Reddy's Laboratories, Sun Pharmaceutical Industries, Aurobindo Pharma, Lupin, Zydus Cadila, Glenmark Pharmaceuticals, and Divis Laboratories. These companies have enhanced their API production capacities and quality management systems to leverage export opportunities.


Get More Insights Here

https://www.newsstatix.com/india-active-pharmaceutical-ingredients-market-size-share-growth-outlook-2023/

Comments

Post a Comment

Popular posts from this blog

"Global Heparin Market: Current Trends and Future Prospects"

Image
  Heparin, a crucial anticoagulant, has been a mainstay in the pharmaceutical industry for many years. It plays a pivotal role in preventing and treating conditions such as deep vein thrombosis, pulmonary embolism, and various cardiovascular diseases. As we delve into the current state of the heparin market, we will explore the trends, challenges, and opportunities that shape this vital segment of the pharmaceutical industry. Market Overview: The global heparin market has experienced steady growth over the years, driven by an aging population, increasing cases of cardiovascular diseases, and a rising awareness of the importance of anticoagulants in healthcare. Heparin is available in various forms, including unfractionated heparin (UFH) and low molecular weight heparin (LMWH), each with its own set of applications and market dynamics. Trends: 1.      Rising Demand for LMWH : Low molecular weight heparin is gaining popularity due to its ease of administr...
Read more

"Advancements in Cystic Fibrosis Treatment: A Comprehensive Market Analysis"

Image
  The cystic fibrosis market has seen significant advancements and changes in recent years. Cystic fibrosis is a genetic disorder that affects the lungs and digestive system, leading to thick and sticky mucus production that can cause serious respiratory and digestive complications. The introduction of new therapies and treatments, such as CFTR modulators, has revolutionized the management of cystic fibrosis, offering hope and improved quality of life for patients. These drugs target the underlying genetic mutations responsible for the condition, helping to alleviate symptoms and slow disease progression. However, challenges remain in the cystic fibrosis market . Access to these ground-breaking therapies can be limited due to high costs, and ongoing research is needed to develop treatments for all genetic mutations associated with the disease. Additionally, the market continues to evolve as new therapies and innovations emerge. Collaborative efforts between pharmaceutical compani...
Read more

"Advancements in Thyroid Cancer Drugs Market: A Comprehensive Analysis"

Image
  Thyroid cancer is a relatively rare but potentially life-threatening condition that affects the thyroid gland. It has been on the radar of medical researchers and pharmaceutical companies for quite some time, leading to significant advancements in the development of thyroid cancer drugs. In this blog, we will explore the latest developments in the thyroid cancer drugs market and how they are shaping the landscape of treatment options for thyroid cancer patients. 1.      Targeted Therapies: One of the most notable advancements in thyroid cancer treatment is the emergence of targeted therapies. These drugs are designed to specifically target cancer cells, sparing healthy cells and reducing side effects. Some targeted therapies approved for thyroid cancer include Sorafenib and Lenvatinib, which have shown promise in slowing down tumor growth and improving patient outcomes. 2.      Immunotherapy: Immunotherapy has gained significant at...
Read more