According to a Deloitte blog article from 2020, India’s pharmaceutical industry ranked third largest in the world by volume and the 11th by value. Come Covid, with India producing a large volume of the vaccines used globally, the country’s pharma industry received further impetus. With over 3,000 pharma companies and 10,500 manufacturing facilities, India is aptly nicknamed the pharmacy of the world. Naturally, pharma machines manufacturers in India are an important part of the enabling environment for such growth. But Indian pharma manufacturers aren’t the only ones who can benefit from their skill and experience; global buyers can, too.
In 2021, India’s domestic pharmaceutical market was estimated to be worth $42 billion. By 2024, Deloitte reckons the industry will grow to $65 billion; by 2030, it is projected to reach roughly $120-130 million. As demand for healthcare in India and globally skyrockets due to ageing populations, climate change, urbanisation, and more, the role played by pharma machine manufacturers will only get more important. As a pharma, biopharma, biotech, or medtech company in any part of the world, you have the chance to leverage this growth in the industry. And to most of the challenges presented by the industry, pharma equipment manufacturers in India are the answer.
Which pharma machines manufacturers in India are the best?
This question has no straight answer. Pharma equipment and pharma equipment manufacturers in India are all unique. Partnering with pharma machines manufacturers in India isn’t just a question of product quality, but of product fit. Do the process machines they make work well for your specific operations? Are there any logistical challenges to installations or life cycle support in a foreign country? How well do their values and approaches to project management align with yours? These are some of the initial questions you should ask yourself before you partner with any pharma machines manufacturers, wherever they may be from. Nonetheless, there are some factors which make partnering with pharma equipment manufacturers in India a superior option to the rest.
Why partner with pharma machines manufacturers in India?
1.You’ll be spoilt for choice
India is the pharmacy of the world. Not only does Indian pharma meet domestic demand, but it also exports cheap but high quality generics to a large majority of the global market. Naturally, many players are involved in manufacturing oral solid dosages, vaccines, biologics, parenterals, and medical devices of all kinds. Behind the scenes, there is a robust supporting network of API manufacturers, excipient suppliers, pharma machines manufacturers, and service providers for maintenance and repair of pharma plants. Within such a mature and diversified ecosystem, you, as a global buyer, are sure to find the right pharma machines manufacturers for your facility.
2. Years of experience and expertise
The pharma industry in India is not a nascent one. Over a hundred years old, the industry has evolved over the years to become a trusted source of generics and vaccines globally. Though much older, the industry saw exponential growth between the years of 1970 and 1995, giving a boost to generic supply worldwide. Aided by economic liberalisation in India in 1991, these companies took the export market by storm. Now as the country invests more in R&D and builds a supportive framework for pharma innovation, joining hands with pharma machines manufacturers in India is a chance to get in on this growth.
With pharma equipment manufacturers in India, you don’t have to choose between experience and expertise. You can leverage the dual advantage of a relatively young, energetic and booming economy and the experience that comes with having years under its belt in the pharma industry.
3. Keeping things economical
This article would be incomplete if we didn’t mention the cost benefits to choosing pharma machines manufacturers in India, regardless of where in the world your pharma plant is located. Deloitte estimates that it costs about three times less to produce a drug in India than in the United States; compared to Europe, it costs half as much to manufacture a pharma product in India.
India is uniquely suited to balancing cost and quality. By partnering up with pharma machines manufacturers here, you can benefit from lower costs overall. This would include not only the cost of raw materials like stainless steel used to construct the equipment, labour, utilities, and logistics but also after-sales support like annual maintenance contracts, tech support, and emergency repairs.
4. India’s adaptability
India is a highly diverse country in terms of climate, terrain, language, and culture. If pharma equipment manufacturers in India have worked with customers across the country, they already have experience in dealing with different cultures and variables regarding terrain and climate.
Further, the tropical heat in many parts of India means that not only humans, animals and plants, but also pharmaceutical preparations are susceptible to the ill effects of high temperatures. Pharma machines manufacturers in India are, therefore, particularly adept at building plants that are resilient to such extremes. As countries across the world get warmer due to climate change, pharma producers everywhere could learn from India’s adaptability in the face of differences in climate. In this context, pharma equipment manufacturers in India may be the perfect partners to get you started on this journey towards climate resilience.
5. Improvements in innovation and regulation
A Deloitte analysis from 2021 explored market trends in India’s pharma industry, focusing on the priority areas for C-suite executives. The analysis identified robotic process automation (RPA), intelligent automation, blockchain, computer simulation trials, and workflow-based analytical tools as just some of the advances prioritised by pharma machines manufacturers and other players in the Indian pharma ecosystem.
What’s more, as the demand for Indian generics increases globally, the country is introducing new legislation like the Drugs, Medical Devices, and Cosmetics Bill of 2023 to try to keep up with advancements in the industry. These expectations of higher quality standards for pharma preparations are sure to also push pharma machines manufacturers in India to achieve improved levels of safety, quality, and reliability.
Apart from these advantages which are fairly unique to the Indian landscape, pharma equipment manufacturers in India also rival global process equipment manufacturers in terms of quality, customisation, life cycle support, and providing a comprehensive range of offerings. Partnering with pharma machines manufacturers in India means taking an active role in the growth of the global pharmaceutical industry in the years to come. Partnering with pharma machines manufacturers in India means improving supply for the world’s increasing healthcare and pharma demand. It means improved access, improved affordability, and global health equity. So why don’t you reach out to TSA’s team of experts to find out how you can make the most of this equitable growth?
Sources:
“The Indian pharmaceutical industry: The ‘pharmacy of the world’?”, Deloitte, 20 March 2020
“Pharma Analytics”, Deloitte, September 2021
