“Bengaluru is one of the major pharmaceutical manufacturing clusters in the country.”
India’s Pharma Growth: A Global Impact
Community pharmacy practice in India originated in British India in the late 19th century, when allopathic drugs were introduced and made available through drug stores. 1
Over the past 20 years, the Indian pharmaceutical industry has expanded at a compound annual growth rate (CAGR) of about 11% in its domestic market and roughly 16% in exports. The global leadership of the industry in providing generic formulations to markets across the world has propelled overall growth. 2
Bengaluru is Biotech’s Epicenter
There aren’t many pharmaceutical companies that are solely Indian. Since cheap labor is most readily available in India, dominant foreign companies with subsidiaries there operate and control the majority of the country’s pharmaceutical industry. The Indian pharma industry is contributing substantially to the country’s economic growth.
Bengaluru (Bangalore) is among the prominent hubs for pharmaceutical and biotechnological innovation in the nation. In India, there were over 2,669 biotech start-ups in 2018. 2 Almost 50% of all biotechs in India are in or around Bengaluru. 3
Our IT city, Bengaluru , is projected to be the 17th fastest-growing city in the world between 2019 and 2035, out of 780 major cities worldwide (Bengaluru Innovation Report).
“Renowned pharma companies like Biocon and Syngene, which were born in India, have their headquarters in Bengaluru; it is home to numerous branches of international corporations like GSK, Adcock Ingram Ltd., Apotex Pharmachem, Strides Arcolab, etc., and other Indians.”
In the Startup Ecosystem Rankings Report 2020, 38 Indian cities made it to the list of top 1000 cities for supporting start-up ecosystems. Bengaluru was the highest-ranking Indian city, followed by New Delhi, Mumbai, and Hyderabad, the only four Indian cities in the top 100. 2
The capital of Karnataka presents investment prospects for the manufacturing of API or bulk drugs, biosimilars, vaccines, and nutraceuticals, in addition to contract research and food and drug testing. 4 Bengaluru will soon see the arrival of numerous new pharmaceutical companies.
REFERENCES
1. South Med Rev. 2009 Apr; 2(1): 11–14. 2. EY survey, June 2020 “ey-ficci-indian-pharma-report-2021 (2).pdf” 3. Asian Journal of Pharmaceutical Science & Technology Vol 2|Issue 2| 2012 |54-61. 4. https://www.dezshira.com/library/industry-profile/pharmaceutical-industry-india-trends-opportunities.html
