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Could 7.5% R&D Spends Make India
PHARMA INNOVATION HUB?
Areport by India Brand Equity Foundation (IBEF) stated that India’s domestic pharmaceutical market was estimated at $42 billion in 2021, which is likely to reach $ 65 billion by 2024 and may further expand to reach nearly $120-130 billion by 2030. The country’s vast pool of scientific talent, strong system of higher education, low operating costs, conducive regulatory environment and supportive government policies have made it an attractive destination for drug development, clinical trials, and commercial manufacturing. A growing population, significant R&D investments, a modernised manufacturing base and the prevalence of chronic diseases have fuelled the growth of the pharma sector. And the backbone of the success can be largely attributed to robust R&D measures in recent years. Post COVID-19, pharma players have increased their R&D investment.

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Published by MMA Media, 2023-04-30 07:46:43

BioSpectrum India May 2023

Could 7.5% R&D Spends Make India
PHARMA INNOVATION HUB?
Areport by India Brand Equity Foundation (IBEF) stated that India’s domestic pharmaceutical market was estimated at $42 billion in 2021, which is likely to reach $ 65 billion by 2024 and may further expand to reach nearly $120-130 billion by 2030. The country’s vast pool of scientific talent, strong system of higher education, low operating costs, conducive regulatory environment and supportive government policies have made it an attractive destination for drug development, clinical trials, and commercial manufacturing. A growing population, significant R&D investments, a modernised manufacturing base and the prevalence of chronic diseases have fuelled the growth of the pharma sector. And the backbone of the success can be largely attributed to robust R&D measures in recent years. Post COVID-19, pharma players have increased their R&D investment.

Keywords: Research and development,vaccine development

Solid, Liquid & Gas bulk Transport Corporation of India Limited TCI House, 69 Institutional Area, Sector - 32, Gurugram - 122001, Haryana (India) | Tel.: +91 124 2381603 - 07 E-mail: [email protected] | Website: www.tcil.com | CIN: L70109TG1995PLC019116 Chemically compliant warehouses with HSE standards Liquid in drums & dry chemicals in bags Movement of gas bulk in gas tankers Bulk liquid chemicals in ISO tank containers (with baffles) & Flexi tanks by Rail, Road & Coastal (Multimodal) FLCs (Foldable Large Containers) for LCL/LTL shipments Services Ensuring Safety Containers are equipped with GPS/VTS Containers with HSE standards & PPE Customer care unit & 24x7 emergency response Assets Asset base of 650+ tank containers and own fleet of vehicles We handle nearly 1 Mn.Tons of Chemicals per annum


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