The COVID-19 pandemic has become a major turning point for the global pharmaceutical and medical industry sectors. This pandemic accelerates the growth of the Indian pharmaceutical industry, because of the booming, massive demand for vaccines, tablets, or healthcare solutions. But talking about before this epidemic, India also ranks 3rd in the global pharmaceutical industry.
With this global epidemic, all the pharmaceutical manufacturers turned to new advanced technology to ensure patient safety worldwide. In this blog, we will discuss the COVID-19 resolution or highlight the major key trends for patent safety.
Demand For Pharma Manufacturing In India
As per the recent study by the Department of Pharmaceuticals Industry, the industry had US $ 1 billion in 1990 to over US $30 billion in 2015, which has an export turnover of approximately US $ 15 billion. That’s why India ranks worldwide 3rd in the pharmaceutical industry.
India is coined as the largest third-pharma manufacturing industry in the world. Generics are traditionally held to be India’s largest contributor, over 70% of the overall market revenue. Not in pharmacy medicines, India also exports the raw material of APIs used in drug manufacturing or 60% of the vaccines made in Indian manufacturing facilities.
How COVID-19 Revolutionised The Indian Pharma Manufacturing Industry?
The COVID-19 pandemic came with a unique challenge. For the first time, all the global pharmaceutical companies are running a race to make an effective vaccine for global consumption as soon as possible. This critical situation seriously requires scaling up production, solidifying the supply chain, and perfect storage solutions for the best workforce.
The most significant issue of the Indian pharmaceuticals processing community, the Indian pharma companies suffer from COVID-19 or tackle this issue or develop a solution.
1. The Pandemic Forced Rapid Innovation
Before this critical pandemic, the COVID-19 pandemic, the Indian pharmaceutical industry ranked as 3rd globally, but this global outbreak accelerated the innovation or lightning speed.
- COVID vaccine development shrank from years to months
- Pharmaceutical manufacturing companies integrated with AI, machine learning and speed up research.
- Closer collaboration between the public and private sectors.
Increase the demand for Biotech and mRNA Expertise, or companies invested heavily in:
- Genomic sequencing
- Biological manufacturing
- Advance vaccine platforms
This rise easily encourages the door of future biotech advancements in India.
2. Digital Transformation Became Non-Negotiable
This global pandemic pushes the Indian pharmaceutical sector to embrace technology wholeheartedly. And the whole pharma industries adapt smart manufacturing:
- IoT-based automated machines
- Real-time quality monitoring
- Paperless documentation
- Remote audits and inspections
Automation in the indian pharmaceutical industry makes faster production and reduces human errors. Because supply chain, predictive maintenance, and inventory management AI help to improve the accuracy without cutting delays.
3. Supply Chain Resilience Became a Priority
With the pandemic comes this: the Indian pharma industry relies on imports of its active pharmaceutical ingredients. It highlights the needs of a strong pharma supply chain. Supply chain boosts domestic or API production, or the government supports several initiatives.
- PLI (Production Linked Incentive) schemes
- Bulk Drug Parks
- Tax benefits for API manufacturers
4. Quality Standards Got a Big Upgrade
Rising global pharmaceutical medicines have increased the level of scrutiny. That’s why the Indian pharmaceutical industry is booming faster and raising its quality standards like never before. It requires stronger documentation, such as higher price transparency, strong data integrity, or an accurate batch release process.
5. Massive Boost In Healthcare Infrastructure
This global pandemic highlighted the need for advanced technology in the pharmaceutical industry with local manufacturing:
- medical devices
- critical drugs
- diagnostic tools
- personal protective equipment (PPE)
6. India Strengthened Its Global Leadership
During the COVID-19 pandemic, India was the global healthcare pillar. Because the Indian pharma sector supports various countries with vaccines as a global healthcare partner. And now India owns the largest pharma companies for building trust, influence, or global market share.
How LifeVision Healthcare Processes & Methods Changed Post-Pandemic?
Like everyone, Lifevision Healthcare was not immune to the monumental challenges that the COVID-19 pandemic brought. The pharma supply chain was disrupted because of consistent delays or chain issues. That’s why they take intentional and strategic decisions to put technology or offer a two-pronged approach. At LifeVision Healthcare, we are always taking the challenges head-on. And gear up to meet processing challenges
People Also Ask: How COVID-19 Revolutionised Indian Pharma Manufacturing.
Q.1 Why Covid 19 Is a Turning Point For The Indian Pharmaceutical Sector?
A: COVID-19 is not only a turning point in the Indian industry, but it also accelerates innovation, boosts domestic APIs production, or towards faster and more resilient digital manufacturing.
Q.2 How does the COVID-19 enhance or strengthen the Indian pharmaceutical industry?
A: COVID-19 enhances the strength of the Indian pharmaceutical industry by enhancing innovation, boosting production, and increasing the capacity to meet global demand.
Q.3 How does advanced AI technology enhance the efficiency of the Indian pharmaceutical industry?
A: Modern AI technology enhances efficiency in the Indian pharmaceutical industry by growing drug discovery, enhancing quality control, and predicting equipment failure by saving time, cost or reducing errors.
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