Indian Pharmaceuticals Industry Acclaimed Globally

The Indian pharmaceutical  industry in India has traveled long. The industry today meets 95 % of the  pharmaceuticals needs of the domestic demand, from being almost non-existent  before 70s.

Pharmaceuticals Industry in India  is globally the third largest by volume with aims to lead the country's  manufacturing sector. It currently tops the chart amongst India's science-based  industries with wide ranging capabilities in the complex field of drug  manufacture and technology.

  The pioneers in country's  pharmaceutical companies have been providing healthcare products since 1903,  which exist today as government-owned drug manufacturers. Pharmaceuticals were  imported till early 60s in fully formulated form or in bulk.

The  country went through severe shortage of foreign exchange in mid 70's with the  government introducing high import duties as well as restrictive import license  policy as a consequence. As a result, Indian pharmaceutical firms encouraged  domestic engineering enterprises for local manufacturing of pharmaceutical  equipments. The domestic production of these equipments enhanced production of  Indian pharmaceutical industry, thus fulfilling the growing demand of  pharmaceuticals in the domestic market.

The government too encouraged  growth of Indian manufacturers introducing Patent Act in 1970. The economic  liberalization 1n the 90s enabled Indian pharmaceutical industry reach where it  stands today. However, the lack of patent protection worked as Indian market  being undesirable to the multinational drug manufacturers, and they streamed  out, making room for Indian drug manufacturers.

  They carved a niche in the Indian  and world markets both, with their expertise in new processes for manufacturing  drugs at low costs. Although some of the major drug manufacturers have taken  small steps into drug innovation, the industry as a whole has been following  this business model even today.

India's pharmaceutical industry  earned revenues worth Rs. 137 billion ($3 billion) in the 2009-10 FY,  registering a 17 per cent growth as compared to the last fiscal.

Indian exporters are equipped with an extensive variety of  pharmaceutical products including drug initiatives, Active Pharmaceutical  Ingredients (APIs), Finished Dosage Formulations (FDFs), Bio-Pharmaceuticals,  Clinical Services including surgical and diagnostic equipments, supplying to a  number of countries globally. Indian Pharmaceuticals exports in 2009-10 FY  equaled $9.1 billion, registering a growth of 5.9 per cent against the previous  fiscal.

Various Diagnostic Equipments manufactured by Indian manufacturers  include -  Blood Pressure Monitor, ECG monitor, Fetal Heart Monitor, Hammer, Pregnancy  Test Card, Resuscitator, Thermometer, Tongue Depressor, Stethoscope, Weighing  Scale, etc.

A number of ENT equipments, Ophthalmology equipments  (Ophthalmic implants), Endoscopy Products, Laryngoscope, Resuscitator, surgical  instruments are manufactured and exported too.

  The Surgical instruments manufactured in the country include  - Medicare Blood Lancets, Surgical Blades, Stitch Cutter, Skin Graft Knife  & Blade, Scissors, Artery Forceps, Needle Holders and Suturing, Midwifery  & Gymea Instruments, Retractors, Rectal & Urethral Instruments,  Amputation & Post Mortem Equipments, None Instruments, Eye Forceps,  Scalpels & Bistouries etc.

 Indian Pharmaceutical  Industry Today  
 Holding a modest 1-2% share in  the offshore markets, the industry is growing at about 10% annually. The  country gained a foothold in the global markets with generic drugs engineered  innovatively and active pharmaceutical ingredients (API). It now aims to  becoming a major player in outsourced clinical researches and contract  manufacturing as well as research.

The Pharmaceutical industry's growth has been fueled by  exports to the global markets. Indian manufactured drugs and pharmaceutical  equipments are exported to a large number of countries, with an ample of the  share reaching destinations in the advanced regulated markets of the US and  Western Europe.

Indian suppliers of pharmaceuticals and equipments are  increasingly making good use of B2B portals and directories to find consumers  and markets in the domestic as well as global markets.

Additional articles about Indian pharmaceuticals suppliers

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Infobanc.com is a B2B portal since 1997 to promote business online - Offers the huge database of Indian Manufacturers,Exporters and Indian Suppliers Directory.

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