According to an MSME report, the small and medium pharma companies play a crucial position within the growth story of the Indian pharma sector as they contribute 35-40 percent to the industry in terms of production with a turnover of approximately Rs. 35,000 crore. With regards to devices and employment generation, the SME sector is ahead contributing towards 48% of the pharma exports in India.
A research document reveals that the Indian Pharma zone is predicted to grow $45 million by 2020. Contract Research and Manufacturing (CRAMs) and Biopharma have emerged as regions of high relevance to the MSME sector. It is foreseen that the MSME units can successfully meet the two principal public expectations such as price-powerful and less expensive drug treatments of a given framework of the super-production procedure, generation, regulatory compliance, distribution device, and expenses.
SMEs have strong re-engineering skills, which help them provide a low-price but tremendous value proposition. Increasing opportunities within the generics pharmaceutical market, both home and exports are fuelling the increase in this sector. The SME sector is a vast part of the supply chain for the larger players. Primarily they operate in the local market, and manufacture formulations referring to medicines of bulk consumption and as an outcome have a huge market.