Carrying the World's Healthcare Burden

As India moves towards a $5-trillion economy, it must realise that equity and progress in healthcare is not just a national agenda, but a global responsibility on its able shoulders

- UMANG VOHRA

In the pursuit of India 2029—a vision encompassing prosperity, progress, and inclusivity—the trajectory of the nation’s pharmaceutical and healthcare sector in the next five years holds profound significance. This period not only has implications for India but also resonates on the global pharmaceutical stage—with our status as the ‘pharmacy of the world’. Our steps forward, therefore, must be taken with the great responsibility we bear.

It is crucial to recognise the dynamic nature of the industry, driven by a diverse range of players, fostering innovation amidst shifting consumer preferences and a rapidly changing healthcare landscape. Aligned with the macroeconomic growth trends and healthcare imperatives, the pharma industry is heading towards an ambition of $130 billion by 2030. This journey will unfold against the backdrop of three pivotal themes—transformative innovation, accelerated shift towards preventive healthcare and pursuit of sustainable and equitable healthcare.

Upping the innovation quotient 

For over two decades, the focus has been steadfast on developing generic medicines, propelling India to the forefront, contributing a significant 20 percent to the global generics supply by volume. As competitiveness in the generics market grows, the less crowded complex generics space is becoming a playground for pharma companies and academia. However, the future of therapy and the way we see healthcare will also be influenced by advancements in biology.