Export from India – Medicines
India holds a 20% market share in the global supply of generics by volume. The Indian pharmaceutical sector also supplies over 62% of the global demand for various vaccines.
The Indian pharmaceutical industry has grown in recent years to become a major manufacturer of health care products for the world. India holds a 20% market share in the global supply of generics by volume. The Indian pharmaceutical sector also supplies over 62% of the global demand for various vaccines. India’s pharmaceutical exports stood at $17.27 billion in 2017–18 and are expected to reach $20 billion by 2020. The industry grew from $6 billion in 2005 to $36.7 billion in 2016, a compound annual growth rate (CAGR) of 17.46%. It is expected to grow at a CAGR of 15.92% to reach $55 billion in 2020. India is expected to become the sixth-largest pharmaceutical market in the world by 2020.[258] It is one of the fastest-growing industrial sub-sectors and a significant contributor to India’s export earnings. The state of Gujarat has become a hub for the manufacture and export of pharmaceuticals and active pharmaceutical ingredients (APIs).
