Mumbai, April 13 -- India is undergoing a significant transition from being a global generics leader to an emerging biopharma innovation hub. India currently contributes nearly 20 per cent of global generic medicines and meets around 70 per cent of global vaccine demand, underscoring the country's robust manufacturing capabilities. The global demand for biologics and biosimilars is expanding rapidly, with the biosimilars market projected to reach $75 billion by 2030. Innovative drugs account for nearly 87 per cent of the global pharmaceutical market value, underlining the need for India to intensify its focus on innovation-driven segments.
Published by HT Digital Content Services with permission from Capital Market....