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2024 a landmark year for Indian pharma with advancements in manufacturing, tech & healthcare access
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Shardul Nautiyal, Mumbai
January 02 , 2024
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The year 2024 proved to be a landmark year for India's pharmaceutical sector, marked by notable advancements in drug manufacturing, healthcare technology, and accessibility. From introduction of revised Schedule M to improve manufacturing standards to an acceleration in healthcare technologies, Indian pharma industry is solidifying its position as the ‘Pharmacy of the World’. As the country looks toward to 2025, experts are optimistic about further innovations that will revolutionize healthcare delivery and improve health outcomes both locally and globally.
The introduction of revised Schedule M, aimed at fostering Good Manufacturing Practices (GMP), has been hailed as a crucial step in ensuring the quality and safety of medicines manufactured in India. This initiative is designed to enhance manufacturing processes, ensuring that Indian medicines meet global standards and remain competitive in the international market.
Deepesh Upadhyay, assistant vice president at Delair India Pvt. Ltd., highlighted the importance of stringent quality control in the production process. “To preserve the integrity of medicines, manufacturers can incorporate quality air solutions, such as compressed air dryers, to eliminate moisture during production. Moisture is a major factor in the decomposition of medicines, and its removal ensures the potency and effectiveness of the end product," said Upadhyay, emphasizing the role of advanced technology in maintaining pharmaceutical quality.
Parallel to these developments, India's healthcare sector has seen a technological renaissance. Telemedicine, wearables, and 3D printing have all gained traction, providing patients with more accessible and personalized care.
Dr Abhinav Lal, co-founder of Practo, noted, “The integration of AI in healthcare is set to revolutionize the industry in 2025, enabling earlier disease detection and more accurate diagnoses. With India’s growing data resources, the country is poised to become a global leader in innovative care models.”
In terms of government support, the production linked incentive (PLI) scheme and the establishment of greenfield projects have been critical in boosting India’s domestic pharmaceutical industry. Ruchi Sogarwal, head of corporate affairs at Takeda India, remarked, “These initiatives are positioning India as a hub for pharmaceutical R&D and innovation. As the market reaches $65 billion in 2024, India’s role in the global pharmaceutical supply chain is more critical than ever.”
Meanwhile, efforts to make healthcare more accessible have intensified, especially in Tier 2 and 3 cities. Viji Varghese, hospital director at Manipal Hospitals Dwarka, shared that the hospital chain is actively expanding its reach through upcountry OPDs and virtual consultations. “Our goal is to bridge the accessibility gap by offering services in underserved locations, ensuring that people in remote areas receive timely care without the need for extensive travel,” said Varghese. The hospital is also expanding to new cities, such as Raipur, to extend its services to a wider population.
Looking forward to 2025, the medical community is turning its attention to the growing mental health crisis. Dr. Vikram Vora, medical director at International SOS, stressed the importance of prioritizing employee wellbeing, especially in light of rising stress and burnout. "As we face an increasingly complex global landscape, organizations must create safe spaces for employees to discuss mental health issues and seek support. A resilient workforce is key to overcoming future challenges," he said.
In summary, 2024 has been a transformative year for India’s pharma and healthcare industries. With government initiatives, technological innovations, and a focus on accessibility, India is strengthening its role as a global healthcare leader. As the country moves into 2025, the focus remains on leveraging innovation to address both physical and mental health challenges, ensuring that high-quality care is available to all.
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