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During the second wave, India witnessed counterfeit medicines and dwindling supplies. With the third wave settling in, leading Pharmas like Cipla, Emcure, Arvind Vasudeva-led Aurobindo, and Parmjit Arora-led Health Biotech Limited are expected to meet the rising demand.
In the last two weeks, India has recorded a sharp rise in COVID-19 cases, pushing the cumulative nationwide tally to 36,317,927, as per the Union health ministry's data. The latest single-day rise is 27 percent higher than that a day ago when 194,720 people tested positive.
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The spike in numbers has raised concerns over the potential shortage of essential drugs and healthcare facilities. India in its darkest hour, during the peak of the second wave, witnessed counterfeit medicines and dwindling supplies, besides oxygen shortage.
In June 2021, the government announced an outlay of Rs. 1,97,000 crore in the sector that will be utilized over five years under the PLI scheme in 13 key sectors such as active pharmaceutical ingredients, drug intermediaries, etc., in order to boost India’s pharmaceutical industry.
At this juncture, leading Pharmas like Cipla, Emcure, Arvind Vasudeva-led Aurobindo, and Parmjit Arora-led Health Biotech are expected to meet the rising demand.
Health Biotech Limited, in particular, has taken a leap ahead by introducing the latest R&D in their drugs, integrating technologies like Lyophilization, 3D printing, and mHealth sensors.
The Indian Economic Survey 2021 has estimated that India’s domestic pharmaceutical market is growing exponentially and is likely to reach USD 65 billion by 2024. If India's pharmaceutical sector continues to grow at this pace, it will further expand and reach USD 120-130 billion by 2030.
The world has entered yet another year, but COVID-19 is here to stay and is unlikely to end anytime soon. It has undoubtedly presented the greatest challenge of the 21st century to date.
However, at the same time, it has provided humanity with new opportunities to innovate and collaborate in a bid to achieve goals collectively. This is where leading pharmaceutical companies in India and elsewhere are coming forward to save precious lives.
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