Publication Date: 2022/03/07
Abstract: The corona virus pandemic is an ongoing pandemic which originated from Wuhan, China in December 2019. It was declared a pandemic on 11 March 2020 by the World health organization and has affected almost every Industry around the world. This review paper will talk about the positive and negative effects the Covid19 pandemic has had on the Indian pharmaceutical industry and briefly look at the challenges that the industry needs to overcome. From December 2019 to December 2021, the Indian pharmaceutical industry has seen an increased in demand, exports, investment, collaboration, and growth which can be attributed towards dealing with the pandemic. The increased global healthcare demands have stimulated growth in the industry. However, there have been challenges the industry had to face including the disruptions in supply chain networks, an increase in raw material costs, and slowing down of research and development for new non-covid related drugs. The pandemic has presented the Indian pharmaceutical industry with an opportunity to become ‘the pharmacy of the world’ for which it must overcome the shortcomings that have been exposed during the pandemic. India is the leading manufacturer and exporter of generic medicines in the world but is heavily dependent on countries like China for raw materials and key starting ingredients. Improvements in policy and supply chain networks are required for India to keep up with the growing healthcare needs of the Indian population.
Keywords: Corona Virus; Pandemic; India; Pharmacutical Industry.
DOI: https://doi.org/10.5281/zenodo.6334732
PDF: https://ijirst.demo4.arinfotech.co/assets/upload/files/IJISRT22FEB743.pdf
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