Context:
India’s pharmaceutical exports have potential to reach $350 billion by 2047: Report.
Key Highlights of the Report:
- Active Pharmaceutical Ingredient (API) – Decline in China’s API export dominance due to policies like the US Biosecure Act presents an opportunity for India to capture 20-30% of the market share lost by China.
- API is the biologically active component in a drug responsible for its therapeutic effect.
- Biosimilars – India currently holds less than 5% of the global biosimilars market, estimated at $30 billion.
- India is also leveraging initiatives like the National Biopharma Mission and Genome Valley expansion (Telangana).
- Biosimilars – Medicines closely resembling biologic drugs, produced using living systems like yeast, bacteria, or animal cells, with similar structure and function.
- Vaccines – Emphasis on affordable vaccines limits penetration into high-income markets.
- Aim to increase global market share from 1.5% to 8% by 2047 through innovation and brand building.
India’s Status:
- Global Rankings: 3rd in volume and 14th in value worldwide.
- Generic Drugs: Leading producer, fulfilling 20% of global demand.
- Vaccines: Supplies 60% of the world’s vaccines.
Read more about National Pharmaceutical Pricing Authority (NPPA) | Drug Pricing Mechanism, Revamped Pharmaceuticals Technology Upgradation Assistance Scheme (RPTUAS)
Source: ET
Previous Year Question
In the context of vaccines manufactured to prevent COVID-19 pandemic, consider the following statements:
1. The Serum Institute of India produced COVID-19 vaccine named Covishield using mRNA platform.
2. Sputnik V vaccine is manufactured using vector-based platform.
3. COVAXIN is an inactivated pathogen-based vaccine.Which of the statements given above are correct?
[UPSC Civil Services Exam – 2022 Prelims]
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 and 3 only
(d) 1, 2 and 3
Answer: (a)