Current Pharma Scenario in India Essay

The Indian Pharmaceutical industry has been witnessing phenomenal evolution in recent years, driven by rising consumption levels in the country and strong demand from export securities industrys. The pharmaceutical industry in India is estimated to be worth about US$ 8 bn, developing at an annual rate of 12-15%. In world rankings, the domestic industry stands tertiary in terms of volume and 12th in value yield terms. The ranking in value terms may also be a reflection of the crushed prices at which medicines be sold in the country. The industry has seen tremendous progress in terms of base increment, applied science base and the wide range of point of intersections manufactured. Demand from the exports market has been growing speedily due to the capability of Indian players to produce cost-effective medicates with world differentiate manufacturing facilities.Bulk drugs of all major therapeutic groups, requiring complicated manufacturing processes atomic number 18 d irect world produced in India. Pharma companies have developed Good Manufacturing behaves (GMP) nonresistant facilities for the production of different dosage forms. In addition, Indias long-established position as a preferred manufacturing location for transnational drug shapers is quickly paste into other areas of outsourcing activities.Soaring be of R&D and administration are persuading drug manufacturers to move to a greater extent and more of their disc all overy seek and clinical tryouts activities to the subcontinent or to establish administrative centres there, capitalizing on Indias high levels of scientific expertise as well as low wages A highly fragmented industry, the Indian pharmaceutical industry is estimated to have over 30,000 manufacturing and marketing units. Indian pharmaceutical industry will be the quaternary largest industry of the country in 2013 turnover wise. The organized sector accounts for plainly 5% of the industry, while a huge 95% is in the unincorporated sector. A large number of players in the unorganized department are small and medium enterprises and this segment contributes 35% of the industrys turnover.why medicines are essential?* Increased health consciousness* Increased life sentence span* Changed lifestyle, increased stress* Junk food consumption* pass off problems of senior citizens (Kidney problems, cardiovascular problems etc.)* change magnitude frequency of accidents.(Above figures are taken from MAT07 July 2012 IMS ORG data) (ORG IMS look Pvt. Ltd. is the one orbicular source for leading-edge, customized business intelligence about the pharmaceutical market, providing clients with critical information, analyses and answers that drive superior business decisions and strategies.) Along with the manufacturing of the dosage forms bran- raw material manufacturers, diagnostic products, surgical product manufacturers and packaging element manufacturer forms an integral part of the industry.OPPURTUNITIE Sa) Generic MarketIndia has a significant administer in the global generics market and is ranked third. In recent years, this segment has been facing stiff competition which makes the scale of production important to purify profitability. India has pre-dominantly been a generic player and has the potential to gain a global presence for the following key developments * Multiple branded drug unvarnished expirations in the short term of span. According to IMS Health, after 2006-2007 many brighten selling product patents expired .E.g. In Nov 2011 patent of brand atorvastatin expired. Such expiration carries tremendous impact on the generic market. * Increasing confidence of consumers in generics in the developed markets* A pro-generic sentiment from healthcare authorities driven by the pressure of containing rising healthcare costs * An aging population across the world, leading to increasing demand for low cost therapies * Global healthcare crisis like AIDS in the development wor ld, necessitating afford qualified medication for the masses Generic companies in India are recognizing the immensity of patent expiries and are making significant incremental investments in research and drug development.b) OutsourcingIndias status as an information technology superpower, with overture to specialist skills and 24/7 influence hours, is a huge wages as it strengthens its position as the destination of choice for contract research, including drug baring. Eighty-two percent of U.S companies overall rank India as their first-choice IT outsourcing destination, says leading outside(a) clinical research organization Chiltern International, adding that IT and ITenabled services (ITES) companies have been expanding their activities in India to new business segments such as bioinformatics and life sciences those doing so or formulation to hold Accenture, Intel, Satyam, Cognizant, IBM, Oracle and TCS.Wipro Spectramind, Indias largest third-party offshore business proces s outsourcing provider, is conducting bioinformatics work for global pharmaceutical companies MNCs that have already entered into off shoring contracts include Pfizer India, which has signed a preferred provider contract for its biometrics social class with Cognizant Technologies India and is also working with SIRO Clinpharm Wyeth, working with Accenture in clinical trial data wariness GSK, whose biomedical data sciences and clinical data management centre in Bangalore supports studies for the group worldwide and Novartis, which has a software development centre for specialized drug development programsIndias Other Advantages for away shoring* Low-cost skill base* Current Good Manufacturing Practice (cGMP) and U.S. FDA compliance levels* High visibility in generics* High-quality, compliant manufacturing* Strong monetary position with ability to scale up* Manufacturing capacity* Access to new technologies* Cost efficiency and track record* Industry position* actualization of pro duct patentsc) Contract ManufacturingManufacturing outsourcing-supply of active pharmaceutical ingredients (APIs) and intermediates * Development outsourcing-conducting preclinical and clinical trials * Customized chemistry services-contract research services for compounds pre-launch.CHALLENGESEven after the increased investment, market leaders such as Ranbaxy and Dr. Reddys Laboratories spent only 5-10% of their r eveningues on R&D, lagging behind westboundern pharmaceuticals like Pfizer, whose research budget last year was greater than the combined revenues of the entire Indian pharmaceutical industry. This disparity is too great to be explained by cost differentials, and it comes when advances in genomics have made research equipment more expensive than ever. The drug discovery process is further hindered by a dearth of qualified molecular biologists. Due to the disconnect betwixt curriculum and industry, pharmas in India also neediness the academic collaboration that is cruci al to drug development in the West and so far.It can be defined as planning and death penalty various concepts of price, promotion, distribution and services offered to potential buyers.1. ChallengesShift from acute to inveterateWith the disease burden shifting from acute to chronic and lifestyle changing, product portfolios of companies are also changing rapidly to include long-term therapies. That brings in greater challenges of adherence to therapy for better patient outcomes. In the case of morbific diseases, the problem of drug resistance is looming large too.Consumer mind-set towards healthProactively attendance to health seems to be the last thing on the Indian consumers mind. Unless one falls sick, he does not seek medical attention. And even after he falls sick, the inclination is towards a quick convalescence so that he can get back to work. Only recently, this is generator to change amongst a certain section who have begun to take hinderance health check up seriousl y, and pay attention to nutrition and lifestyle for better health.Doctor mind-setWith the ratio of doctor people be very low, doctors are extremely busy treating patients. With less time on hand, they cannot pay attention to patient education or counselling. Nor are they able to give enough time to update their knowledge, even if they wish to. frankincense with newer therapies being made available, continuing medical education programs for doctors are graceful progressively important. Such seminars, conferences and the internet meet this need. Multiple brands, reduced distinctionWith hundreds of companies marketing the same molecules with different brand names, no differentiation between brands, doctors giving just a minute or so to detail, the challenges for right aways pharma marketer are immense.2. OpportunitiesImproving healthcare infrastructureWith more and more private hospitals being constructed, government spending on healthcare increasing and more number of people acce ssing health amends the domestic market does provide greater opportunities. However, the mind-set and skill-set needs to be tuned for this.Access to information on healthPeople are increasingly accessing information on health, some of which is correct, but most other being conf utilize and inaccurate. Doctors are facing questions from patients too. This offers a great opportunity for the pharma marketers to provide cutting edge tools to the doctor to help him stay updated, and to communicate patients with educational and accurate information. This also opens doors to marketers of OTC and nutraceutical products to reach consumers.Penetrating hoidenish marketsSome companies have already taken steps to reach artless markets. More innovative strategies to reach these markets are needed for growth. Here again, using technology could be the key. Penetration of the mobile being large in India, this medium offers great opportunity.Institutes offering pharmaceutical marketing courses1. NI PER2. Narsee Monjee Institute of Mgt Studies, Mumbai3. Indian Institute of Pharmaceutical Marketing,Lucknow4. SIES, Navi MumbaiCONCLUSIONThere has never been a more important time for Indias government and its drug producers, both multinational and domestic, to work together in partnership for the good of the industry and the nation. With its long advantages, including a large, well-educated, skilled and English-speaking workforce, low operational costs and ameliorate regulatory infrastructure, India has the potential to become the regions hub for pharmaceutical and ergonomics discovery research, manufacturing, exporting and health care services within the next decade.For foreign investors, collaborations with India present a huge opportunity both in terms of joint production for the global market and supply of the growing domestic market. There is a need for regulatory reform in India to encourage leading global players to continue and accelerate the outsourcing of their R&D act ivities-beginning with discovery research-to the subcontinent.