Impact on Pharma Sector in India during Pandemic and Post Pandemic

Pharma sector During and Post Covid-19

On doubt that Pandemic has come as a golden opportunity for Pharma Sector in India. India is the world largest provider of generic drugs. Now the question is what are generic drugs. Generic drugs are the Pharmaceutical drugs having the same chemical substances like that of a branded or patented drug. As of November in financial year 2019-2020, India exported Pharmaceutical worth 11 billion U.S dollars. In terms of volume, Indian drugs comprised of 20% of the global generic drug export.

Prior to pandemic there were very few people who were demanding sanitizers and masks. But after Pandemic the demand of sanitizers and masks drastically increased. It increased to such a level that few people started black marketing of these commodities. It was in news that government seized 10
Lakh worth of masks from black marketers. Many people have started stocking anti-malarial drug hydroxychloroquine. Thus, it is clear that Pharma sector is experiencing high demand due to Pandemic. Now the question is what is Pandemic. Five months earlier hardly anyone ever heard this word. But now this word is buzzing everywhere. When a disease spreads in a particular area or a state or a country it is called Epidemic. But when a disease spreads all across the world, then is called a Pandemic.

Moving towards the challenges being faced by Pharma sector in India, around 70% of the raw material used for manufacturing drugs comes from China. Due to Covid the supplies are disrupted. So basically it is a situation oh high demand and lesser supply. India imposed bans on the export of certain drugs to ensure adequate supplies of such drugs for citizens, but under the presser of U.S, India had to lift that ban as well.

Future of Pharma Sector in India

After this Pandemic this for sure that people will continue to use more of sanitizers than earlier. This Pandemic will leave a deep impact on the lives and minds of the people.  People have become conscious about their health and the demand for personal hygiene products, sanitizers and handwash will continue to witness a rise in demand.