COVID-19: Impact on Pharmaceutical Industry (India)

Though Covid-19 has a significant impact on the supply chain, input costs, logistics, and raw material prices. It provided the Indian pharmaceutical industry with several opportunity to expand and grow. The Indian government has taken steps to increase investment in the pharmaceutical and healthcare industries. The domestic and global investment has increased manifolds'. Demand for prescription pharmaceuticals, immunizations, and medical gadgets has increased dramatically as a result of Covid-19, as has the number of Contract Service Agreements and Acquisitions.

Delveinsight presents the COVID-19 Challenges and Opportunities on the Indian Pharmaceutical Industry in this whitepaper. However, despite the negative impact on the environment, Covid-19 has had a good impact on the Indian pharmaceutical industry by encouraging more in-house manufacture and development, providing cash, and adopting initiatives. With the efforts of both the Government of India, R&D, and pharmaceutical producers, India's pharmaceutical sector will be considerably stronger and advanced than ever in the next five years. Also, Make in India, the government's goal to encourage the production of active pharmaceutical ingredients (APIs) and key starting materials (KSMs) for pharmaceuticals, will help India develop a self-sufficient healthcare ecosystem and reduce dependency on imports.