Market Trends of India CMO Industry
This section covers the major market trends shaping the India CMO Market according to our research experts:
Generic Medicine Under Solid Finished Dose Segment Holds Significant Share in The Market
- The solid dose formulation segment is mainly dominating the finished dose segment in India, owing to lower manufacturing costs, patent compliance, and ease of maintenance. Solid dosage forms, such as tablets, pills, capsules, powders, etc., are among the most adopted products in the country. The growth of generic drugs is one of the major factors driving the segment's growth. India is the largest exporter of generic drugs and accounts for approximately 20% of global exports by volume.
- By producing 60000 different generic brands over 60 therapeutic categories, India is the world's largest producer of generic medications, accounting for 20% of the global supply. One of medicine's biggest success stories is the availability of cheap HIV medication from India. India is one of the world's top producers of inexpensive vaccines. India is aptly known as the "pharmacy of the world" because its medications are popular globally due to their low cost and great quality.
- Also, new global opportunities are being made by generic manufacturers producing modified versions of approved off-patent small-molecule drugs. These so-called 'super generics offer a therapeutic advantage, distinguishing them from conventional generic drugs. For instance, India-based Ranbaxy Laboratories developed a once-a-day ciprofloxacin tablet and licensed it to Germany-based Bayer AG.
Understand The Key Trends Shaping This Market
Download Sample
Drugs and Pharma Exports in United States Account for Significant Market Growth
- Indian drugs are exported to more than 200 countries worldwide, with the US being the key market. According to RBI, the Indian pharmaceutical sector contributes about 2 percent to India's GDP and around 8 percent to the country's total merchandise exports.
- Generic drugs account for 20% of the global export volume, making India the largest provider of generic medicines globally. In the covid phase, India's drugs and pharmaceuticals exports stood at USD 3.76 billion between April 2021 and May 2021 (source: IBEF).
- The USA, the UK, and Russia are among the largest importers from India at a share of 29%, 3%, and 2.4%, respectively, during 2021-22. India's exports of pharma products to the USA in FY21-22 were USD 7,101.6 million.
- There were 741 facilities that the USFDA had approved as of August 2021. Additionally, as of December 2020, 4,346 ANDAs had been won by Indian companies. Due to the Covid epidemic, USFDA inspections were not undertaken over the past couple of years; nevertheless, they have begun to occur lately and are anticipated to enhance Indian exports to the USA further.
- India has the most USFDA-compliant businesses with facilities outside of the USA. Over 55% of India's exports go to heavily regulated markets, and 8 out of 20 global generic companies are based there. About 65-70% of the vaccines needed by the World Health Organization (WHO) are supplied from India, the nation that exports the most vaccines.
Contract Manufacturing Organization Market in India Report Snapshots
- Contract Manufacturing Organization Market in India Market Size
- Contract Manufacturing Organization Market in India Market Share
- Contract Manufacturing Organization Market in India Market Trends
- Contract Manufacturing Organization Market in India Companies
- Contract Manufacturing Organization Market in India News
