Tech Powers Pharma

Mumbai is the nationwide hub of Pharmaceuticals where HP & Unceecops elaborated on their solutions targeted at the sector.

- Ankit Parashar

The Indian pharmaceuticals market is the third largest in terms of volume and thirteenth largest in terms of value; it accounts for 20% in the volume terms and 1.4% in value terms of the Global Pharmaceutical Industry as per a report by Equity Master. India is the largest provider of generic drugs globally with the Indian generics accounting for 20% of global exports in terms of volume. Of late, consolidation has become an important characteristic of the Indian pharmaceutical market as the industry is highly fragmented.

This markted expected to grow to $100 billion by 2025, thereby emerging as the sixth largest pharmaceutical market globally by absolute size, as stated by Mr Arun Singh, Indian Ambassador to the US. Branded generics dominate the pharmaceuticals market, constituting nearly 80% of the market share (in terms of revenues). The sector is expected to generate 58,000 additional job opportunities by the year 2025.

PC QUEST and HP Inc organized an event for the Mumbai Pharmaceuticals Industry in associate with Uneecops.