On the current pharmaceutical sector the generic drug have a significant value for its modern technology with accurate efficacy, easy available and cheaper price in drug delivery system. On the 20th century global pharmaceutical evaluation every country started to pull up their pharmaceutical sector on producing different kind of drugs with different dosage form to lead as a world pharmaceutical leader. That competition show a big positive sign for world health care sector.
A generic drug also must contain same active ingredient which is cheaper and also equivalent as innovator drug. On today's world the generic drug is more popular for patient's & respective country for its low investment and more capability & economical counterparts on reducing overall health care cost.
Today, about 50% of all the drug in global market are generic. About 88% of the prescription in U.S were generic. In India the branded generic accounts for 90% value on its market. Country like U.S.U.K. Japan. Canada. Rustrellia holds a great generic market share globally with their manufacturing units like Pfizer. Mylan. Gsk, Teva. Abbot. Novartis, Sonafi etc.
On currently India hold 3rd position globally an producing quality generic drug. India manufacturing unit sun pharma holds 5th position as a global pharma generic drug manufacturing. Other also Lupin. Zydus. Ipca. Cipla. Dr.Reddy. Aurobindo pharma holds a great position globally as a generic drug producer . on world India is the largest generic medicine provider globally, occupying a 20% share in global share on volume. The country India is home to 3000 Pharma companies with a strong network over 10.500 manufacturing facilities. India is the source of 60000 generic drug brands across 60 therapeutics categories & manufacturing more than 500 differ API's . the export of generic drug is one of India's core strength. The India pharmaceutical industry received foreign direct investment worth USD 15.72 Between April 2000 2018 march On currently India is a great choice for all leading MNC pharma company for expanding their pharmaceutical sector.
The US is biggest generic export destination for India, which supply 40% of U S. generic drug needs. Now a day India is a superior for global generic pharma India export 50% global demand for various vaccines. 25% medicines in UK. India also largest vaccines producer in world, largest Bio-pharma sector with top medical device producer in Asia. The country has a large pool of scientist 8 engineer to spear the industry a head to an even higher level. Currently India supplies medicines to global for treating life style disease like Diabetes .Cancer. Malaria. Hypertension. AIDS. Gout. Epilepsy and many more an a much cheaper price as compare to global market value. Due to low treatment cost India also emerging as primary destination for medical tourism.
The generic industry continue to hold potential for growth globally, to increase uptake of generic to reduce health care cost. The industry India is also expected to expand in India in the wake of Indian Govt as Jan Ayushman Bharat initiative .Which create more opportunity in generic production, based on current scenario India generic market expected to reach $5's million by 2020. which open more opportunity on patient care system.
In terms of global market. India holds a accountable share S it known as pharmacy of the world. India giant its innovatively. The global scene with it’s innovatively. The modern technology reduces low labour & R&D costs to increase the productivity, which reaches India to as a global generic leader. On the patient care system, the generic are still a large part of a picture 8 India are leading the global genetic sector on front line with filling the world generic demand.
- Durga prasanna Nayah
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