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Reasons Why the Contract Manufacturing Organizations Would Continue To Boom in India

In the last few decades, India has developed tremendously in the pharmaceutical industry by including contract manufacturing in their routine. According to S. V. Veerramani, the president of Indian Drug Manufacturers’ Association (IDMA), the sector is currently growing at a rate of 20 percent with a current market value of $5.3 billion.

  • It has been estimated that patented drugs worth $85 billion in sales in the U.S. would be off patent during the period 2014 – 2020. This would boost the Indian players into the game to produce more in a cost effective manner.
  • The rising cost of manufacturing and the ageing plants in Europe reaching their life cycle may pull European companies to relocate their units to India or to outsource to Indian manufacturers.
  • The Indian government also helps to upgrade the Manufacturing facilities to the WHO GMP complaint by providing soft loans which would bring additional 1000 units into the fold thereby corroborating the manufacturing process

The contract manufacturing concerns in India is expected to gain grounds in the near future and to grow by 17-18 percent and the improvisation of business methods may contain the manufacturing cost to a desired level.

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