HOW INDIA IS BECOMING PHARMACY OF THE WORLD

 HOW INDIA IS BECOMING PHARMACY OF THE WORLD

India is becoming the pharmacy of the world with its low-cost drugs and generic medicines. The country has a well-developed pharmaceuticals sector with more than 1,500 companies, including more than 200 multinationals. India's generic drug industry is estimated to be worth $20 billion and is growing at a rate of 20 percent a year.

Most of the big pharmaceutical companies have research and development (R&D) centres in India. The Indian pharmaceutical sector is export-oriented and accounts for more than 40 percent of the world's generic exports. India exports drugs to over 200 countries, including the United States and the European Union.

The quality of Indian drugs is well-recognized. The World Health Organization (WHO) has certified more than 100 Indian drug manufacturers as meeting international quality standards. India also has a large pool of skilled manpower in the pharmaceuticals sector.

The low cost of drugs and generic medicines in India is one of the main reasons for the country's growing popularity as the pharmacy of the world. The average cost of a generic drug in India is only 5-10 percent of the cost of the branded drug.

The Indian pharmaceutical sector is expected to grow at a rate of 15-20 percent a year in the next few years. This will make India the world's fastest-growing pharmaceutical market.

Indian Pharma industry

The Indian pharmaceutical industry is the world's third-largest producer of medicines by volume, and is expected to grow to $55 billion by 2020. The industry employs around 350,000 people and exports to over 200 countries.

The industry has been growing at a rate of around 20% for the last few years. The main drivers of this growth have been the increasing demand for generic drugs, the growth in the middle class, and the increasing incidence of lifestyle diseases.

The industry is highly fragmented, with around 25,000 players. The top 10 players account for around 60% of the market. The top players are:

1. Sun Pharmaceuticals

2. Ranbaxy Laboratories

3. Dr. Reddy's Laboratories

4. Cipla

5. Glenmark Pharmaceuticals

6. Lupin

7. Ajanta Pharma

8. Torrent Pharmaceuticals

9. Zydus Cadila

10. Alembic Pharmaceuticals

The industry is in the process of consolidation, with a number of players acquiring smaller players. This is expected to result in the top 10 players accounting for around 80% of the market by 2020.

The industry is regulated by the Central Drug Standard Control Organization (CDSCO), which is part of the Ministry of Health and Family Welfare. The CDSCO is responsible for the quality of drugs in India, and sets standards for the manufacture, testing, and import of drugs.

The industry is facing a number of challenges, including increasing competition, the impact of the Goods and Services Tax (GST), and the increasing incidence of counterfeiting.

The industry is expected to grow at a rate of around 15% over the next few years. This will make it one of the fastest-growing industries in India.

India's healthcare innovation

In India, the healthcare sector is booming with a number of innovative startups and initiatives. From affordable health insurance to mobile health clinics, India is leading the way in affordable and accessible healthcare.

One of the most innovative initiatives in India's healthcare sector is the Aravind Eye Hospital. Aravind has successfully reduced the cost of cataract surgery to just $2, and has treated over 30 million patients.

Another innovative healthcare startup in India is HealthifyMe. HealthifyMe is a mobile health app that helps users to track their physical activity, nutrition, and weight. The app also provides personalized health advice and support.

India is also leading the way in affordable healthcare. In March 2016, the Indian government launched the world's largest healthcare program, the Ayushman Bharat Program. The Ayushman Bharat Program will provide health insurance coverage to over 500 million people.

India's healthcare sector is booming with a number of innovative startups and initiatives. From affordable health insurance to mobile health clinics, India is leading the way in affordable and accessible healthcare

India becoming world health tourism place of the world

Every year, an increasing number of people are traveling to India for medical treatments and surgeries. This is because India has become one of the world’s top health tourism destinations. There are many reasons for this.

First, India has an abundance of world-class hospitals and medical facilities. These hospitals offer a wide range of treatments and surgeries, including advanced procedures that are not available in many other countries.

Second, India has a large pool of talented and skilled doctors. These doctors are highly trained and experienced in performing a wide range of medical procedures.

Third, India is a cost-effective destination for medical treatments and surgeries. The cost of medical procedures in India is much lower than the cost in other countries. This is because the cost of living in India is much lower than the cost of living in other countries.

Fourth, India is a culturally diverse and welcoming country. This makes it a great destination for medical tourists from all over the world. Indian hospitals and doctors are used to treating patients from different cultures and backgrounds.

Finally, India is a safe and secure country. This makes it a great destination for medical tourists who are looking for a safe and relaxing holiday.

If you are considering travelling to India for medical treatments or surgeries, be sure to do your research first. There are many excellent hospitals in India that offer a wide range of treatments and procedures.