Pharmaceutical logistics landscape of India

India's pharmaceutical exports surged 9.67% to $27.9 billion in 2023-24, despite a 3% dip in overall exports, according to commerce ministry data. The Indian pharma market relies on evolving logistics. With India supplying 60% of the world's vaccines, the sector is projected to generate $7.61 billion in logistics revenue by 2032.

- Parijat Sourabh

The Indian pharmaceutical industry, often referred to as the "pharmacy of the world," has established itself as a global powerhouse in drug manufacturing and export. However, the success of this sector hinges not only on production capabilities but also on the intricate web of logistics that ensures medicines reach patients safely and efficiently. As India continues to expand its role in the global pharmaceutical market, the importance of a robust, reliable, and innovative logistics infrastructure cannot be overstated.

India's pharmaceutical industry has experienced remarkable growth over the past few decades, cementing its position as a key player in the global healthcare landscape. Statista forecasts that revenue from the domestic pharmaceutical market is set to reach $13.16 billion in 2024.

This growth is driven by factors such as increasing healthcare awareness, rising incomes, expanding healthcare infrastructure, and government initiatives to improve healthcare access. It further says that India's pharmaceutical market size is projected to reach $450 billion by 2047. As of June's report, the Indian pharmaceutical market delivered a healthy revenue growth of 8.8% year-on-year.

Not only in terms of market size but also in manufacturing and export, India is one of the biggest global suppliers of low-cost vaccines, producing 60% of the world's supply. According to a report by the Government of India, the country is also the largest provider of generic medicines globally, occupying a 20% share in the global supply by volume. The industry manufactures about 60,000 different generic brands across 60 therapeutic categories.

India's pharmaceutical exports surged by 9.67% to $27.9 billion in 2023-24, despite a 3% dip in total exports, according to data from the the ministry of commerce.