In the coming years, the export of APIs in India is expected to see a record-breaking growth. The main driver of growth is the growing market for generic drugs in the United States, Europe, and Japan.
According to a newly released report by Tata Strategic Management Group, the export of bulk pharmaceuticals in India will grow from $3.75 billion in fiscal year 2007 to $12.75 billion in 2012. According to Cris infac's data, it is expected that the driving force for export growth will come mainly from the trade in regulated markets, especially exports to innovative companies.
The Indian pharmaceutical industry is currently exploring markets in the United States, Europe, and Japan. About 90% of its total raw material medicines are sold. In these markets, pharmaceutical companies, regulatory agencies, and customers have paid more attention to the quality standards of APIs, intermediates, and excipients used in medicine, and have given Indian drug companies exporting to these regions many opportunities. .
The report predicts: “The share of raw material medicine exports to innovative companies that regulate the market is expected to increase from 7% of total exports in the fiscal year 2007 to 15% of the 2012 financial year.†The Tata Group’s report stated: “The main driving force for growth is due to India’s stronger patent protection and increased trust of foreign companies in India’s regulatory framework and technological capabilities. In the fiscal year 2007, India’s bulk drugs Industry has exported 45% of its products to the regulated market, while the remaining 54% has been exported to the semi-regulated market, which accounted for US$3.75 billion of the total US$4.1 billion in production that year, and 39% of the APIs are in general use. Famous drug market sales."
The study predicts that by 2012, Indian companies will shift their focus to regulating the market, and nearly 65% ​​will export to the regulated market, while the share of exports to the semi-regulated market will drop from the current 54% to 35%. With the expiration of a large number of product patent protections in these countries over the next five years, the generic market for generic drugs will grow and will attract Indian exporters.
“Our API companies are exploring growth opportunities in the generic drug market. The report shows that India's API manufacturing companies are more competitive, including innovative companies, than their competitors in other APIs companies that dominate the regulatory market. Demand for APIs,†said one industry source.
The increase in the number of approvals by the United States and the European Union for the management of Indian pharmaceutical raw material manufacturers also shows that Indian pharmaceutical manufacturers are shifting their focus from a semi-regulated market to a more regulated market. Leading Indian companies such as Cheers, Sun Pharmaceuticals, and Wockhardt have a considerable amount of raw material produced to meet domestic and export needs. For example, the company's sales in the fiscal year 2007 were 40% of its sales from the API business, while 19% of Wockhardt’s revenue came from the sales of APIs, and the 18% of Sun Pharmaceuticals’s revenue during the same period came from the API business. Obviously, the sales of APIs from leading companies in India mainly come from the regulatory markets such as the United States, Europe and India.
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