Pharma Industry

Pharma Industry

The pharmaceutical industry, along with the healthcare sector globally, has been impacted in an unseen way due to the outbreak of the COVID-19 pandemic leading to material impact around consumer requirements and preferences accompanied by macroeconomic, structural and microeconomic changes in the end-to-end value chain. In the midst of the pandemic and a changed world, the pharmaceutical industry across the world has responded with agility —from the sequencing of the novel coronavirus in January to vaccines being administered to the first recipient in the United Kingdom by December 2020, with efficacy levels over 90%, exceeding all expectations of governments and markets across the geographies. The pharma industry will be closely monitored by governments in all countries in times to come.

It is imperative that India revaluates its current role within the global pharmaceutical industry, explore possibilities to consolidate and strengthen its positioning in light of geopolitical and economic shifts, attain self-sufficiency as a globally competitive pharmaceutical industry with innovation as a guiding principle for future growth. This paper addresses the ambition for the current decade in consultation with industry veterans across segments, with inputs from the government, regulators and pertinent industry associations.

From March 2020 onward, the industry has been hit by debilitating restrictions and impediments to reach customers with expectations to operate and supply drugs to those in India and globally. The pharma industry exceeded expectations in responding to this global crisis, supplying drugs to over 150 countries besides meeting all domestic demands. Significant vaccine capacity ramp up has been achieved over the year to augment vaccine administration within India and other countries who are dependent on India for supplies.

In order to attain self-sufficiency and be the real pharmacy of the world, we need to refocus on the next set of avenues to feed the growth engine of this industry, which is of strategic as well as economic significance. Realizing this ambition will need a concentrated effort from the key stakeholders of the Indian pharmaceutical industry – the payers, providers, policymakers, physicians, pharma industry players, academia as well as a plethora of service providers across the logistics and distribution, IT, capital pools, packaging and other auxiliary industries. Take a step forward, raise your hand and come join us. We will give you a new planning, a new marketing strategy, based on a word class study. Fix Appointment with Our Expert Team