The Indian pharmaceutical industry

The Indian pharmaceutical industry has emerged as a significant contributor to the global pharmaceutical industry. As per the report by the Federation of Indian Chamber of Commerce and Industries (FICCI), “India is the largest provider of generic drugs globally. Indian pharmaceutical sector industry supplies over 50 per cent of global demand for various vaccines, 40 per cent of generic demand in the US and 25 per cent of all the medicine in the UK. Presently over 80 per cent of the antiretroviral drugs used globally to combat AIDS (Acquired Immune Deficiency Syndrome) is supplied by Indian pharmaceutical firms.”

One-of-its kind roadshow hosted more than 500 customers, partners and prospects under one roof in Ahmedabad, Bengaluru, Chandigarh, Hyderabad and Mumbai

Other partners included global industry leaders such as Ace Technologies, Aptar Pharma, Datwyler, Kaisha Lifesciences, Nemera, Packwell Industries, Shakai Packaging, Smart Skin Technologies, Snowbell Machines, Sovereign Pharma and Vanrx Pharmasystems Inc.

Jayant Joshi, Managing Partner, Shreedhar Group, distributors for Vanrx in India, shared, “We appreciate this association as it is the first time that so many players – representing foreign brands and local players have come together on a common platform. We use Schott Kaisha products and in fact, design our machines accordingly. Such events through the company are instrumental for us to get closer to our customers, gather new learnings and, in turn evolve our solutions.”

Today, India is undoubtedly a huge pharmaceutical market for the world, exerting unmatched strength in manufacturing of generic drugs for US and other global markets. With the Indian pharmaceutical packaging market estimated at Rs 147.8 billion in 2017 and expected to reach Rs 245.5 billion by the end of 2023, there is huge demand for an increased supply of high quality primary packaging material.

Pharmaceutical packaging company Schott Kaisha successfully concluded its five-city roadshow recently, bringing together industry experts, R&D specialists, business and sales leaders for discussions on latest technological advancements and best practices that lead to drug safety.

“We believe this two-pronged focus will enable the BPPI to expand to over 10,000 stores by FY21. With each store achieving monthly sales of around Rs 5 lakh, the scheme is set to top Rs 6,000 crore by FY21,” the report said.

It added that as unbranded generics and Jan Aushadhi gain steam, there will be further pressure on volume, leading to lower revenue growth for branded market.

It further said that branded revenue growth will become a challenge in the coming years as generics market share will keep on increasing.