29-Dec-2023
Key Summary:
India has developed as a global pharmaceutical hub, providing economical and high-quality drugs.
India's main pharmaceutical export destinations include the United States, United Kingdom, South Africa, Russia, and Nigeria.
In 2021-2022, India exported pharmaceutical items worth $24.62 billion, which accounted for 73.31% of total exports.
Analgesics, anti-inflammatories, antibiotics, cardiovascular medicines, and other pharmaceutical products are among the most popular exports from India.
Top Indian pharmaceutical businesses include Sun Pharma, Dr. Reddy's Labs, Cipla, Aurobindo Pharma, and Lupin.
India is the world's largest producer and exporter of generic medications, accounting for 20% of worldwide generic medication export volume.
The export process for pharmaceutical items comprises getting an IEC, registering the product in the importing country, completing relevant documentation, obtaining export approval, arranging transportation, and customs clearance.
In recent years, India has developed as a global pharmaceutical hub, playing a critical role in supplying countries worldwide with affordable and high-quality pharmaceuticals. The pharmaceutical business in India has grown significantly thanks to technological advances, research and development, and a robust regulatory environment.
As the industry evolves, There is exciting potential for pharmaceutical export from India, particularly to emerging markets. This blog delves into emerging trends, updated pharmaceutical import data, pharmaceutical export from India, and attractive opportunities for Indian pharmaceutical exports to emerging markets.
Since its establishment, India's pharmaceutical sector has progressed from being renowned solely for generic medication manufacture to becoming a center for research, development, and innovation. The country has a reputation for generating low-cost, high-quality pharmaceuticals, making it a favorite source of medications worldwide.
As per Pharma Export Data, India is the world's third-largest pharmaceutical exporter. A country with a robust pharmaceutical industry is one of the most valuable.
Based on Indian pharmaceutical statistics, the Indian pharmaceutical industry, which contributes 20% of global supply volume and nearly 60% of global vaccinations, is dominated by OTC medications, generic pharmaceuticals, active pharmaceutical ingredients (APIs), vaccines, biosimilars, and custom research manufacturing.
According to CRISIL, a global analytical research and rating firm, the domestic pharmaceutical sector forecasts revenues to expand 8-10% in fiscal years 2023-24.
Pharmaceutical export from India is a powerhouse with enormous future growth potential. It's currently a $50 billion behemoth, projected at $65 billion by 2024 and a whopping $130 billion by 2030.
The Indian pharmaceutical business is a powerhouse with enormous growth potential thanks to various factors:
Rising population: India has the world's largest population, resulting in a massive home market for pharmaceuticals.
Increasing disposable income: Better economic conditions contribute to increased healthcare spending, which drives up pharmaceutical demand.
Growing awareness: Rising health consciousness and access to knowledge increase demand for high-quality healthcare items.
Overall, pharmaceutical products export from India has enormous market potential. The industry is positioned for exponential expansion in the future, thanks to its healthy local market, solid Pharmaceutical Importers and exporters database and supportive government efforts.
By tackling existing obstacles and capitalizing on existing strengths, India has the potential to become a global leader in pharmaceuticals, not just in generics but also in creative medication discovery.
Is there anything else you want to know about pharmaceutical export from India? You can delve deeper into specific Pharmaceutical Import data, Pharmaceutical export data, Pharma HS codes and much more.
According to Pharma export data, India is the world's top producer of generic medicines, and in the fiscal year 2023, India exported products worth more than USD 25 billion. Based on export value, China accounts for 20% of all generic medication exports worldwide.
Based on pharmaceutical export data, India accounts for 5.92% of the global pharmaceutical market. Pharmaceuticals and medicines accounted for 73.31% of India's total exports.
According to India Export Data, India exported pharmaceutical items worth $24.62 billion in 2021-2022. However, India exports pharma products to several countries, such as:
United States of America
United Kingdom
South Africa
Russia
Nigeria
European Union
ASEAN Countries,
Latin America
Caribbean (LAC)
Middle East and Asia
|
S.No |
Pharma Export Countries |
Export Value:(In Billion ) |
|
1 |
United States of America |
$93.8 |
|
2 |
United Kingdom |
$63.29 |
|
3 |
South Africa |
$27.22 |
|
4 |
Russia |
$34.77 |
|
5 |
Nigeria |
$21.7 |
|
6 |
European Union |
$73.5 |
|
7 |
ASEAN Countries |
$83.8 |
|
8 |
Latin America |
$81.9 |
|
9 |
Caribbean (LAC) |
$66.6 |
|
10 |
Middle East and Asia |
$54.3 |
Africa. In 2021-22, India's pharmaceutical business's top five export destinations were the United States, the United Kingdom, South Africa, Russia, and Nigeria.
Other important export destinations, such as the United States, the United Kingdom, and Russia, are among the top pharma importers from India, accounting for 29%, 3%, and 2.4% of total imports in 2021-22, respectively.
List of pharmaceutical products exported from India:
Here is the updated list of pharmaceutical products exported from India:
Analgesic & anti-inflammatory
antispasmodic analgesic
diuretics & anti-diuretics
pro-kinetics & gut relaxants
urogenital analgesics
antispasmodics
anti asthmatics
antibacterials,
anti-hypertensive & cardiovascular drugs
anti-cold decongestants
and antitussives
expectorants
The above list includes India's top pharmaceuticals exported products. This section provides information on India's emerging pharma export sector. Numerous additional businesses contribute to the industry's expansion by offering unique product lines and addressing special market demands. Need access to all pharmaceuticals exporters? Contact ExportImportData.in to obtain a current list of pharmaceutical products exported from India, Pharmaceuticals buyers, and pharma export data by country.
Now explore the top Pharmaceutical companies in India or pharmaceutical export from india!
Read More: A comprehensive guide on Exporting Beauty and Skin Care Products
Here is the updated list of top pharmaceutical companies in India:
Sun Pharmaceutical Industries Ltd
Dr. Reddy's Laboratories Ltd
Cipla Ltd
Aurobindo Pharma Ltd
Lupin Ltd
Divis Laboratories Ltd
Torrent Pharmaceuticals Ltd
Mankind Pharma Ltd
Zydus Cadila
Glenmark Pharmaceuticals Ltd
So, these are the top pharmaceuticals exporters in India or pharmaceutical export companies . However, if you need the updated list of pharmaceuticals exporters, export pharmaceutical products, connect with Exportimportdata.in and explore the India trade data without any hustle and bustle.
Read More: Why India Imports Organic Chemicals: A Comprehensive Overview
Notably, India is the world's top producer and exporter of generic pharmaceuticals. It also plays a vital role in making critical medicines inexpensive and accessible to millions of people worldwide. India contributes a stunning 20% to global generic medication export volume, significantly outpacing competitors. It leads to providing a large number of essential pharmaceuticals to countries all around the world.
The Indian pharmaceutical sector produces a wide range of generic pharmaceuticals in a variety of therapeutic categories, including:
Antibiotics
Antivirals
Medications for the cardiovascular system
Diabetes treatments
Cancer therapies
This extensive spectrum meets a wide range of healthcare demands around the world. While India is a generic medication leader, it confronts hurdles such as stringent regulatory requirements in some export markets. Competitors include other low-cost generic medication manufacturers and inadequate pharmaceutical imports by country.
Despite these obstacles, India's future in the pharmaceutical business appears promising. There are several platforms such as ExportImportData.in, where you can obtain an accurate export pharmaceutical products, list of medicines imported in India, pharma importers data, pharmaceutical products export from India, Pharma HS codes and much more.
The government's continuous support and the industry's emphasis on innovation and quality are laying the road for long-term growth and cementing India's place as a global leader in affordable healthcare solutions.
There are several mandatory steps of pharmaceutical export from India. Here are the major steps:
Exporting pharmaceutical products from India requires numerous measures to assure regulatory compliance and safe transit. Here's a general summary of the procedure:
1 Obtain an IEC (Import Export Code): This is required for all import and export activities in India.
2 Register the product in the importing nation. Requirements differ by country, so look into the unique requirements for your intended market.
3 Prepare the necessary documentation. This usually includes:
Certificate of Pharmaceutical Products (CPP)
Good Manufacturing Practices (GMP). Certificates for Your Manufacturing Facilities
Export shipment documents (commercial invoice, packing list, and bill of lading).
Free sale certificate (if applicable)
Certificates from the Health Products Regulatory Authority (where appropriate)
3 Obtain Export Approval: Depending on the product and destination, you may be required to obtain approval from the Drug Controller General of India.
4 Arrange Shipping: Select a reputable goods forwarder with experience handling pharmaceuticals, taking into account considerations such as temperature control and storage.
5 Customs Clearance: Consult with a customs broker to ensure that all documentation is in order for a successful export.They will provide the actual list of pharmaceutical export companies.
Healthcare affordability is a common issue in emerging markets. With their competence in generic medicine development, Indian pharmaceutical companies can be critical in supplying cost-effective alternatives to branded pharmaceuticals.
Market research reports also play an important role in the pharmaceutical export from India process. Traders need to obtain the valid and the updated Pharmaceuticals importers data and Pharma exporters list or pharmaceutical export companies . For this, you need to visit our dedicated data-driven platform such as ExportImportData.in
Conclusion: A Bright Future for Indian Pharmaceutical Exports
The Indian pharmaceutical business is on the verge of unparalleled growth, with developing markets providing enormous prospects. India can continue to contribute significantly to global healthcare accessibility by utilizing its capabilities in generic medicine production, research and development, and regulatory compliance.
Partnerships, strategic collaborations, and a dedication to quality will be critical as the industry evolves to unlock the full potential of pharmaceutical exports from India to emerging economies, ultimately contributing to improved healthcare outcomes globally.
ExportImportData.in is the best platform to analyze the export pharmaceutical products, export and import statistics for pharma products. Also, if you have any queries related to pharmaceutical export from India data or pharmaceutical import data, connect with our professionals and book a free live demo today!
Export Import Data solutions is one of the best online import export websites in India that provides trade data services and trading business information. Currently, Export import data is the best import export data provider and market research companies in India.
