India Emerges as a Global Hub for Pharmaceutical Outsourcing: Macquarie Report

India's Contract Research, Development, and Manufacturing Organization (CRDMO) sector is set to double from $7 billion to $14 billion by 2028. The country is becoming a preferred choice for pharmaceutical outsourcing, offering a 30-40% cost advantage over Western counterparts. India's strong regulatory track record, expertise in APIs, and favorable government policies are driving this growth. The US Biosecure Act could accelerate expansion, potentially pushing the industry to $22 billion by 2030. With over 650 FDA-approved facilities, India is well-positioned to capitalize on the global shift away from China-centric supply chains, solidifying its status as the "Pharmacy of the World."
Source: ANI, Economic Times