Why is India called Pharmacy of the World

Today India is called Pharmacy of the World at the global level , India is a dominant country in pharmaceutical industry because today India is supplying medicines to most of the country. by 2023 , the Indian pharmaceutical industry will be the 13th largest industry in terms of value and the third largest industry in terms of volume. Indian pharmaceutical industry has produced 60000 generic drugs of 60 different therapeutic categories. in FY 2022-2023 India’s pharmaceutical industry export revenue is 25.3 billion dollars

Its example has been seen in the COVID pandemic. When even the most powerful countries came under the grip of COVID, India was the only country which not only saved its own country but also saved other countries by giving medicine and vaccination. India gave 160 million COVID vaccine doses to more than 90 countries, many countries expressed their gratitude in UN assembly on September 2021.

indian pharmaceuticals industry is playing a prominent role in global level. According to the annual report, India’s pharmacy sector has a contribution of 1.72% in India’s GDP in 2021. The pharma industry has made a revenue of 42 billion dollars in 2021.The market size of India’s pharma industry has reached 54.6 billion dollars in 2023 and it is estimated that the market size of the pharma industry can reach 163.1 billion dollars during 2024 to 2032.

India has a moniker pharmacy of the world because India is the world’s largest producer of generic drugs at the global level. according to pharmacy council of india, India fulfils 40% of USA and 25% of UK’s demand. Here, Indian pharma companies supply 50% of the global demand for different vaccines. And it supplies 80% of anti retro viral drugs used in AIDS. India is the world leader in supplying vaccine like DPT , BCG , Measels. India Pharmaceuticals has captured 20% share in the world in terms of supply volume and 60% share in global vaccines. India is known as the Pharmacy of the World because its medicines are affordable and of good quality.

India’s biotechnology includes biopharmaceuticals, bio-service, bio-agriculture and bio industry. Its market size in 2020 was 92.3 billion dollars which is expected to double in 2025 i.e. 150 billion dollars. The growth of pharmacy and bio-technology is rising because its demand is very high nationally and internationally. India mostly exports drugs formulations and biologics, which contribute 75% of India’s pharmaceutical exports.Due to the good quality of Indian medicine, FDI(Foreign Direct Investment) has made a reasonable investment of 200% in pharmaceuticals sector.

Today in India pharmacy sector has been multiply its quality and quantity of its production so quickly ,which is much appreciated because of India’s man power, world class facility and government support. according to studyIQ IAS , Serum Institute of India is the largest vaccine producer in the world , which is exporting vaccines like Covid Shield to the world. India is producing medicines and vaccines on such a massive scale it is fulfilling the demand of  domestic and international level. 

Despite India being such a big producer in the pharmacy sector, India is heavily dependent on China in the pharmacy sector. According to the report, India imports bulk drugs from China in huge amounts, which is 43% of the imports of the pharma sector, which entirely comes from China. 

Therefore, India has started taking some steps to end its dependence on China, about which you will read below.

How India eliminate the dependence on China in pharmacy sector

You must be aware today how much India depends on China. Due to this dependence, India faces many problems. in this problems One of the problems is the bulk drugs used to make medicines in the pharmacy sector which India imports from China in huge quantities. importing so much bulk drugs from china this cause problem in COVID pandemic time. at time of covid china had shutdown. in shutdown china’s all export are stop. then india face shortage of bulk drugs due to stop export of china. So , you can understand why India wants to end its dependency on China. 

India took some steps to end his dependency of China in pharmacy sector. India is trying to produce bulk drugs on its own which are imported from China. recently munsukh mandaviya which is the health minister of india says that under the Production Linked Incentive(PLI) scheme india in the last 1.5 years we have started manufacturing of 38 APIs(Active Pharmaceuticals Ingrediants). 

India’s health minister is recently speaking at an inauguration at the Indian Institute Medical in Ahmedabad(IIMA) and he told that 95% of India’s pharma component imports from one country, which named China. And he said that we are gradually ending our dependence on China in pharmacy sector. He also told that the reason for us to end our dependence on China is not due to Covid but we started doing it much earlier, especially when there was a conflict with China in Doklam in 2017, then we thought that our dependence on China will end gradually will have to do. and All these factors forced the government to manufacture the medicine itself. 

India’s health minister has said about the scheme that India will soon start manufacturing a total 54 APIs and the government has announced to invest Rs 15000 crore in the pharmacy sector under the PLI scheme. It is a huge success that India started manufacturing 38 APIs in just 1.5 years and this is example of Atmanirbhar bharat.

The pharmacy department announced that it wants to build a total of three bulk drugs parks. according to studyIQ IAS , for this scheme there was total 13 states showed interest in this scheme but out of 13 states, only three states were selected. which names are Gujarat , Himachal pradesh and Andhra pradesh.

For the selection of companies in this PLI scheme, the department has set the condition that the total net worth of the company should be 30% of the required investment. And the department also says that we will allow only 136 companies. And the department also says that we will allow only 136 companies and the companies which have applied for this will be selected only on two criteria : Which company can produce bulk drugs at such a cheap price and the second was which company have capacity or can produce in large amount of bulk drugs.

All these factors have brought so much growth in India’s pharmacy sector like India’s Atmanirbhar Bharat scheme, India’s strong man-power, government support and the main factor is private company working in India’s pharma sector. Private companies have played a major role in the huge growth in India’s pharmacy sector. In private company, there are the biggest market holders in india . Among them, the market share of this companies is more than Rs 1 lakh crore.

Top 10 Ranking Companys Which Cover Highest Market Share in Indian Pharmacy

Although there are many companies in the pharmacy sector, but there are some companies which are the foundation of India’s growth in pharmacy sector. The production of these giant company is at a very massive level . this comapny fulfills the domestic demand of India, and also fulfills the demand at the global level. The quality of their medicines should also be very good quality . Due to the good quality , cpacity to fulfills all demand and medicines have affordable price so, many countries trust on this company.

There is the List of Top 10 Pharmacy Indian Company

S.no.	Company Name	Company Establisher Name	Company Establishment	Company Market Captalization (December 2023)
1	Sun Pharma	Dilip shanghvi	1983, Vapi	2,95,466 crore
2	Cipla	Khwaja Abdul Hamied	1935, Mumbai	1,00,787 crore
3	Dr. Reddy’s Laboratories	Kallam Anji Reddy	1984	98,218 crore
4	Divi’s Laboratories	Murali Devi	12 October, 1990	96,242 crore
5	Mankind Pharma	R. c. Juneja	1991	76,792 crore
6	torrent Pharmaceuticals	U. N. Mehta	1959	72,168 crore
7	Zydus Lifesciences	Ramanbhai Patel	1952	64,305 crore
8	Aurobindo Pharma	P. V. Ramprasad Reddy	1986	61,154 crore
9	Lupin	Desh Bandhu Gupta	1968	57,530 crore
10	Alkem Laboratories	Samprada singh	8 August, 1973	55,064 crore

Although all these companies are the foundation of India’s pharmacy sector, but there we will tell you about one of the company which is the king among these companies till which you will read below.

Who is the King of India’s Pharmacy Sector

The name of the company considered to be the king of the pharmacy sector of India is Sun Pharmaceuticals Ltd. the founder of Sun Pharma Company is Dilip Shanghvi they also created the record of becoming India’s richest man on March 5, 2015. He created a record of net worth of 21.7 billion dollars by surpassing Mukesh Ambani. He started his business at the age of 27 and today after 40 years his revenue has reached 45 thousand crores and sun pharma is the fourth largest generic pharmaceuticals company in the world . sun pharma is the most valuable and trustable company in the world.

They start the business with five product to treat psychiatry aliments and after making profit, they increased the specialization like cardiovascular, neurology and dermatology Which has become a stream business in the pharmacy sector in today time. Slowly and gradually their business started running and expanding. 

They have grown their business so much that today they have sold their products in more than 100 countries and this company is known for its good quality and massive production. according to anual report , in fy 2023 Sun Pharma Company has an income of 445 billion Indian Rupees and in last year an income of 395 billion Indian Rupees. You will be surprised to hear that the market capitalization of Sun Pharma has reached 38.30 billion dollars in January 2024. Which is the reason that sun pharma rank the number one company in the Indian pharmacy sector.

To know more about Sun pharma compnay Click Here

sun pharma company is the king of indian pharmacy sector but one of the oldest pharma company of india is not the Sun pharma company. You will read further about the company which left Sun Pharma company behind.

Which pharma company is the father of Indian pharma companies

The name of the company known for the oldest pharma company of India is Cipla Ltd. Cipla is the father of all pharmaceutical company in India. CIPLA full form is Chemical Industrial and Pharmaceuticals Laboratories Ltd. Cipla Company was founded by Khwaja Abdul hamied in 1935 , in Mumbai start with Rs 2 lakh. He was born on 31 October 1898  in Aligarh, Uttar Pradesh.

they study in berlin after that in 1935 he come in india and they started Cipla company and within a few years their medicines also started being produced and after a few years on 1 September 1939, world war 2 started due to which the import or supply chain of medicines in India was broken due to lack of supply of medicine In India. India now meet the demand of medicines from domestic companies. Meanwhile, the sales of cipla company started increasing and the growth was seen in Cipla and in a few years Cipla established its presence in over all India.

During the second world war, Cipla gave a tough fight to the big MNC companies and cipla gave medicine at a affordable price. during this period Cipla made two important discovery. They found an alternative to the synthesis of coramine which was used in the heart breathe simulator. and second one is  herbal remedy of allopathy which is used in high blood pressure.

This company gradually expanded its business but the owner of this company i.e. Khwaja Abdul Hamied died in 1972 then Cipla business was taken over by his son Yusuf Hamied. When Yusuf Hamied took over his father’s business, he faced many problems. There was also a problem that in the 1980s, a disease called AIDS came, it was such a disease that there was no cure for it. By the year 2000, this disease had spread to such an extent on the African continent that the death was reached 8000 approximately every day.

To prevent from this disease, countries like Europe ask a lot of money for medicines that african common people could not afford it due to which a lot of people started dying in Africa but then Africa conduct the meeting on HIV in which India’s Cipla company was come in this meeting. You will be surprised to know that Cipla has promised Rs 36,000 per year to provide medicines to Africa and the company has given the technology to make medicines to the country and the third promise was that Cipla company would distribute the medicines from mother to child on free of cost. cipla is broking the monopoly of big company.

According to a report in the year 2013, at that time India  is manufacturing 92% of Hiv medicne in the world. Also, the medicines which were available in America for Rs 14 lakh for a year, were provided by Cipla for just Rs 5800. In the same time, India made the TB, Malaria and Hypothesis medicines at cheap prices which other countries used to sell at very high prices.

according to moneycontrol , Cipla’s sales or revenue for 2023 was Rs 6678.15 crore, while last year’s sales were Rs 5828.54 crore, which increased by 14.08% in 2023. cipla has the second greatest market capitalization which is Rs 1,05,602 crore.

To more know all about Cipla company click here

 

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