AI To Help Indian Pharma Industry Pivot On Innovation

New Delhi: As technological advancements like AI, machine learning and precision medicine revolutionise drug discovery, manufacturing and patient care, Indian pharmaceutical industry is set for a ‘profound transformation’ in 2025 with innovation, wider global access and improvement in quality becoming key themes for the future.

The industry, which is expected to grow nearly two-fold to around $130 billion in size by 2030, is looking to take advantage of conducive policies, demographic and digital talent, in making India play a pivotal role in advancing global health for all. Currently accounting for around 20 per cent of the overall generic drug sales globally, the Indian pharma industry is focussing on research excellence and innovation in order to position the country as a global hub for high-quality, affordable pharmaceuticals.

“The Indian pharma market is expected to move up to $120-130 billion by 2030 from the current size of $58 billion. Initiatives in terms of quality, innovation and wider global reach will help the Indian pharma sector to realise the potential,” according to Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain. Given the conducive policies and the advantage of demographic and digital talent, India will play a pivotal role in advancing global health for all in years to come, he added.

IPA represents 23 leading research-based Indian pharmaceutical companies like Sun Pharma, Cipla, and Dr Reddy’s Laboratories, among others. Jain said innovation will continue to be a major focus for the industry going forward. He noted that the government is expected to soon announce the operational details of the Promotion of Research & Innovation Programme which would also spur innovation. Elaborating on the initiatives lined up in the private sector, he said that leading companies are increasing their focus on specialty portfolios and diversifying into higher-value drugs.

“Additionally, the industry is set to make notable progress in areas such as CAR-T cell therapy, mRNA vaccines, and the development of complex molecules, which hold immense potential for driving future growth,” Jain said.