0471-4064440
info@meditour.in
Sign Up
Login
logo

Blog Details

WHY INDIA’S PHARMA BUSINESS IS BEST IN THE WORLD?

Indian manufacturers produce a major chunk of rare medicines in the world. India’s pharmacy business is a strong business platform, even thriving in the middle of an economic crisis. Recently it came into limelight in international news thanks to Covid pandemic. The dispute was about a drug called ‘hydroxychloroquine’, which was found to be effective for treatment of Covid cases. The drug, however, worked only on certain cases and is not yet recommended as a proper Covid medicine by doctors. Anyway, the news pointed light to the fact that 70% of this medicine is manufactured by three large pharmaceutical companies of India.
Corporate world is seeing very high scope in India’s medical industry. A major reason for this is its enormous and consistent growth in pharma sector.  Medicines and drugs have a profound impact on health tourism itself. India is able to produce and export drugs at cheap prices compared to the expensive western health industry. Hence the popularity of Indian medicines. India’s pharmaceuticals earn more than 75% of its revenue from the manufacture of drugs. The export revenue comprises to roughly above 50%. No wonder the country is called by many as the ‘pharmacy of the world’.
Scope
The population of India is growing at an alarming rate and hence the demand for cheap medicines. While pharmaceutical companies can grow themselves to become India’s economic backbone, they also need to up their game by large folds. This growing sector should not only be beneficial for export business, but should also aid for country’s growing medical needs.  Since India has a rich tradition in ayurvedic drugs and medicinal practises, an attempt to incorporate these into modern drug manufacturing will be highly beneficial. Extensive studies on ancient healthcare systems like siddha, unani etc. need to be done. 

Recent Posts
whatsapp