When it comes to the pharmaceutical industry, India is considered the number one manufacturer of generic medicines. Manufacturing generic medicine isn't the only strongest suit of India but also the affordability of these medicines. Since the entry of India into this field, it has been making huge progress and has shaken the whole world. Hindi to English translation services play an important role when it comes to the collaboration of Indian scientists with English researchers in order to produce medicines for the large patient population.

In this read, let's talk about how India is the most affordable generic drug manufacturer in the world and how it sustains this reputation. We will also be looking at how this status of India allows it to collaborate in business endeavors with other nations and enhance its GDP.

India’s Historical Entry in the Pharma Industry

The pharmaceutical industry started in India in the 20th century when the British colonial government established the Drug Control Laboratory in Kolkata (then Calcutta) in 1930. It was established to regulate the manufacture and sale of drugs in the Indian region. After the independence of India, the true start of the Pharma industry started in India. The role of the Drug Price Control Order (DPCO) in 1970 further boosted the growth and manufacturing of drugs in India. This institute was responsible not only for the production of medicines but also for the regulation of the pricing of these drugs to make them affordable for the masses.

Hence, the affordability factor of medicines has been under inspection since the day India jumped to make the pharmaceutical industry one of its top notch industries. In 2021, the Indian pharmaceutical market size was around $42 billion. And according to an estimate, the market size is going to be $130 billion by 2030. Almost 1.72% is the contribution of India’s pharmaceutical industry to the country’s GDP.

How India Makes Medicine Affordable?

As mentioned earlier, since the start of drug manufacturing, India has been trying to make medicines affordable for its masses. Not only that, but the medical and healthcare industry here is so advanced that patients all around the world visit India for medical procedures. The Apollo HealthCity Hospital in Visakhapatnam is known for its excellent group of surgeons and skilled hospitals. Here, Telugu translation services are very prominent as they help both Telugu and non-Telugu speakers in understanding the complex medical documents necessary for their better health.

These generic drugs are copies of branded drugs that have the same dosage, intended use, effects, and side effects. By producing these drugs, Indian pharmaceutical companies offer affordable alternatives to these expensive and branded drugs. This process drops down the cost for patients and allows them to seek medical treatments easily.

The Wide Range of Indian Generic Medicines

Indian generic drugs have no limits. It means that you will find cancer medication to simple flu and cough medicines easily and with less costs and yes there is no catch. It might seem impossible but believe us it is the truth. You will find amoxicillin, ciprofloxacin, azithromycin, and doxycycline at lesser costs and the healing effect would be no different than the actual medicine. Generic drugs are definitely a copy but they don't lack in showcasing positive effects.

India also manufactures drugs for cardiovascular disorders such as heart failure and coronary artery disease. It also manufactures oral antidiabetic medications like metformin, gliclazide, glimepiride, and even insulin and sells them at lower prices.

Even bronchodilators like salbutamol and formoterol are available at low prices. Medications for cancer like breast cancer, lung cancer, and prostate cancer, all are easily available in the generic form. Hence, you name the disease and the medication and India is there to produce its generic form to enhance the medical standards of its citizens.

Making Space For Global Businesses

With this prospect of generic medicine, India also allows global pharma companies to invest and generate revenue. In this way, these global pharma companies can enter the Indian market and get their share of revenue. For instance, companies that are known for medical equipment can enter the Indian market. Here translation services are very important for instance, English to Hindi and Hindi to English translation services are quite helpful.

The United States, Germany, Japan, and China are famous for their production of medical machinery and equipment. These countries export their medical goods to India and generate hefty revenue.

Final Words!

To sum up, the Indian market is famous for its generic drug manufacturing. It produces generic medicines on a wide scale and for almost every disease to make it easy for patients to access medical help. It also paves the way for international businesses to enter the Indian market. Germany, China and the United States are known for exporting their medical equipment to India.