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Research by Roots Analysis predicts the pharmaceutical contract manufacturing market will value $140 billion by 2030. percent between 2022-2030. The report noted that there has been “considerable” merger and acquisition activity in recent years within the pharmaceutical contract manufacturing market.
Recognising the pharmaceutical industry’s substantial contribution to India’s exports, we eagerly anticipate schemes that provide fiscal incentives to encourage such exports. Indian Pharmaceutical sector trying to reach the USD 130 Billion target by 2030.
This would encourage pharmaceuticalcompanies to enhance their R&D efforts, bolstering India’s status as a global leader in innovative healthcare solutions. The government should incentivise research and development (R&D) by increasing the weighted tax deduction for R&D expenditure from 100 per cent to 200 per cent.
billion by 2030 (2). Similarly, India’s pharmaceutical contract manufacturing market is expected to increase at a CAGR of 14.67 Manufacturing costs in India are also 30 – 35 per cent lower than those in the US and Europe (5), further sweetening the deal for global pharmaceuticalcompanies. per cent, hitting $44.63
We can talk all the time, Montserrat said, but now is the time for action: early diagnosis, access to the best treatments, innovation, in addition to protection of intellectual property (IP), and after that biosimilars and generics. With 90% of adolescents that should be vaccinated by 2030, Luppi deems it an opportunity.
Brimming with potential As per an Invest India report of 2023, the Indian Bioeconomy, valued at $137 billion in 2023, is targeted to reach $150 billion by 2025 and $300 billion by 2030. IBER Report 2023 divulges, “The biopharma vaccines (non-COVID alone) market makes a significant daily contribution of approximately $38 million. billion.”
Generic and biosimilarpharmaceuticalcompany and Novartis subsidiary Sandoz announced its plan to accelerate patient access to biosimilars. In a 15 June statement, Sandoz said that it hoped the Act4Biosimilars action plan will provide actionable solutions to overcome barriers preventing patient access to biosimilars.
Tabuk Pharmaceuticals CEO Ismail Shehada said: “We are excited to announce our partnership with Bio-Thera that will enable us to deliver unique and specialised health solutions aimed at enhancing the well-being of people inSaudi Arabia.
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