Key Highlights:
As is well known, India is essential to the global pharmaceutical and vaccine industries. The tried-and-true Indian traditional medical system is called Ayurveda. The Sanskrit words "Ayu," which means "life," and "Veda," which means "knowledge" or "science," combine to form the name "Ayurveda," which means "the knowledge of life." However, India is the world's biggest supplier of generic medications. The nation produces over 60% of the world's vaccinations, accounting for 20% of the worldwide supply volume.
Based on Indian medicine export data, formulations and biologics accounted for 73.31% of India's exports. In 2021–2022, the country's pharmaceutical exports brought in US$ 24.62 billion, a 1% increase over the previous year. In 2020–21, exports climbed by 18% YoY to reach US$ 24.4 billion.
This blog post will look at insights on generic medicine export from India, how to export medicine from India, a list of medicines exported from India, and some obligatory requirements to export pharma products. So, if you're looking to export generic medicine, this blog can be a helpful guide for you.
Ayurveda is based on herbs and spices intended to incorporate preventive medicine into regular meals. Ayurveda originated in the first millennium BC and served as the model for contemporary medicine. India is the fourteenth most significant country in the world in terms of value and ranks third in volume.
Also, India is a popular destination for medical tourism because it provides excellent medical care at a significantly lower cost than many Western nations.
However, India has become a global leader in the medical area thanks to its unique blend of ancient wisdom, cutting-edge infrastructure, qualified personnel, reasonably priced healthcare, and one of the most critical factors, i.e., medicines exported from India.
With the world's need for these pharmaceutical products and India's rich Ayurveda and generic legacy, it can be profitable to export medicine from India.
Did you know? Vaccines like DPT, BCG, and MMR (for measles) are most frequently exported from India to other nations. Most facilities approved by the USFDA and located outside the country are in the USA.
Here are some interesting facts about the Indian pharmaceutical industry!
To export medicines from India, it's critical to conduct in-depth market research to understand the competitive landscape and level of demand in the pharma sector. Determine the needs and preferences of potential clients, such as medicine export markets, importers, distributors, and retailers. Accurate medicine export data is the only way to accomplish this.
According to statistics on medicine export from India, pharmaceutical products were exported by the nation for US$ 24.59 billion in 2021–2022, up 18% YoY to US$ 24.44 billion in 2020–21. However, India's fiscal year 2023–2024 saw a strong increase in pharmaceutical exports. Here’s how.
Now explore India’s medicine export market in brief!
India's pharmaceutical sector is a major player in the world market, exporting its goods to more than 200 nations. Although the market is always evolving, the following are some of the major destinations for Indian pharmaceutical exports:
|
Top Rank |
India’s medicines export destinations |
|
1 |
Middle East |
|
2 |
Asia |
|
3 |
CIS |
|
4 |
North America |
|
5 |
Africa |
|
6 |
European Union |
|
7 |
ASEAN |
|
8 |
Latin America |
|
9 |
Caribbean (LAC) |
|
10 |
Other parts of Europe |
As per statistics on medicine export from India, India is a pharmaceutical exporter to the Middle East, Asia, CIS, North America, Africa, the EU, ASEAN, Latin America & Caribbean (LAC), and other parts of Europe.
Almost three-quarters of India's exports are sent to Africa, Europe, and NAFTA. Brazil, the United Kingdom, South Africa, Belgium, and the United States were the top five export markets for the Indian pharmaceutical industry in 2022–2023. At a share of 29.72%, 2.82%, and 2.59%, the US, Belgium, and South Africa were among the top importers from India.
|
Country |
Exports (USD Billion) |
CAGR (%) |
|
USA |
7.54 |
6.18 |
|
Belgium |
0.71 |
59.2 |
|
South Africa |
0.66 |
7.23 |
|
UK |
0.65 |
- |
|
Brazil |
0.64 |
- |
So, the US dominated the market, making up around 30% of India's $7.54 billion worth of pharmaceutical exports overall. South Africa and Belgium were close behind, with contributions of 2.82% and 2.59%, respectively. Compared to the prior year, exports to South Africa and Belgium increased at remarkable CAGR rates of 7.23% and 59.2%, respectively. If you are a business and trade internationally, medicine export data is a valuable tool. We recommend you visit the Eximpedia. app to discover the authentic and latest global trade data for pharmaceutical products or a list of medicines exported from India.
However, the US market grew at a consistent 6.18% CAGR, but within the same period, exports to the UK and Brazil exceeded US$600 million each, establishing them as significant markets.
To start a generic medicine export from India, you may require several documents, such as export documentation, an export license, a drug license, a Certificate of Pharmaceutical Product (CPP), an IEC code, etc. Here are the essential steps for generic medicine export from India :
Firstly, we discuss the documents:
Here are some of the steps involved in exporting medicines from India:
It would help if you visited Eximpedia's data-driven dashboard to analyze the updated medicine exported worldwide. Eximpedia.app is an exclusive platform that provides statistics on medicine export from India, medicine exporters in India, and offers reliable, current, and authentic Indian medicine export data or a list of medicines exported from India.
In conclusion, medicine export from India are complex processes that require careful planning and execution. It can be a lucrative endeavor for businesses that can fulfill the demanding requirements of foreign customers.
You can increase your chances of success in the international pharma export market by adhering to the guidelines provided in this blog. If you have any further queries regarding Ayurvedic medicine export from India, import-export data, or Indian medicine export data, please contact the Eximpedia.app. We'll push your business to new heights!
FAQ’s
Elkos Healthcare Pvt. Ltd is considered as the largest exporter of medicine in India. However, the other significant medicine exporter are: Aurobindo, Cipla Limited, Dr. Reddy’s Laboratories, Sun Pharmaceutical Industries.
Analgesics & anti-inflammatory, antispasmodic analgesic, diuretics & anti-diuretics are some of the major generic medicines exported from India.
Starting a pharma business is a lucrative opportunity for the traders, but it is very crucial to understand the market dynamics, mandatory documents and other significant factors to boom the pharma market globally.
As per medicine exporter data, Brazil, the United Kingdom, South Africa, Belgium, and the United States were the major five export markets for the Indian pharmaceutical industry in 2022–2023.
There are several documents are required to export pharma products: business registration with mca, gst registration, import export code (iec), company incorporation certificate, drug license, free sale certificate.
As is well known, India is essential and famous to the global pharmaceutical and vaccine industries. Also, India is the world's largest supplier of generic medications with production value of 60% of the world's vaccinations.
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