Experts state that the country’s generic exports are now growing at around 22 % per year, with India accounting for around 20-22 % of the world’s production.
Frankfurt/Germany — The India Brand Equity Foundation and the Pharmaceuticals Export Promotion Council (Pharmexcil) provided an update on the country’s generics market at the recently held pharma event CPhI Worldview in Frankfurt. Data confirms that the country’s branded generic sector accounts for a massive 98 % of the marketplace – reaching a value in excess of 12 billion dollars – with India remaining the world’s leading exporter.
Pharmexcil confidently forecast that generic exports are now growing at around 22 % per year, with India accounting for around 20-22 % of the world’s production, covering more than 60,000 brands and 60 therapeutic classes.
Total exports of pharmaceuticals – including APIs, generics and alternative systems of medicine – climbed to 16.84 billion dollars during 2016-17, with 34 % and 15 % supplied to the US and EU markets respectively.
According to the analysis India has provided up to 50 % of new DMFs and between a quarter and a third of new ANDAs each year for the past decade – in addition to supporting hundreds of ANDAs filed by US and EU companies. India now boasts of seven companies amongst the top 20 global generic organisations.