Page 57 - Glass Machinery Plants & Accessories no. 1-2020
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COUNTRY OUTLOOK
INDIA
container glass industry for
pharmaceutical packaging Country outlook
Valued at USD 36.7 billion at
the end of 2018, the Indian Rajeev Jetley
pharmaceutical industry is the
third largest pharmaceutical HE INDIAN PHARMACEUTICAL INDUSTRY
From being almost non-existent in the 1970s,
industry globally. According T the Indian pharmaceutical industry has come a long
way to becoming one of the largest and most advanced
to industry reports, it is pharmaceutical industries in the world. This significant
contribution of the Indian pharmaceutical industry became
currently growing at double- possible due to a number of initiatives, both at political and
commercial level.
Today, India is the pharmacy of the world and supplies
digit rates, and is expected over 60 per cent of global demand for various vaccines and
to touch USD 50 billion by the ARV drug supplies, 30 per cent of UNICEF’s annual sup-
ply globally while the UN purchases about 60-80 per cent
of drugs from India. India also contributes approximately
end of 2020. In this article, 57 per cent of APIs and 69 per cent of Finished Pharma
Products (FPP) to the Pre-Qualified list of WHO. The
Glass Machinery Plants Indian pharmaceutical industry contributes nearly 40 per
cent of generic drug requirements in the US and 25 per
& Accessories presents a cent in the UK.
The strong demand of pharmaceutical products is
detailed account of the buoyed by better access to medicines in the domestic
market, increasing spending on healthcare, as well as
Indian pharmaceutical glass a higher incidence of chronic diseases. It is further
supported by a rising middle-class whose disposable
market and manufacturers. income keeps growing rapidly; a large proportion of
these funds is being spent on healthcare.
glass machinery plants & accessories 1/2020 55
