If we look at the current situation of coronavirus crisis, India has been a country of both loss and gains as compared to hardly hit United States, China and Europe. India has been quite successful in preventing the spread of the pandemic from reaching uncontrollable Stage III using social distancing and early lockdown of the states as its weapons. Country has been unitedly coming up with awareness programs and tracking contacts towards quarantining positive suspects and containing the contagious spread of this virus. Moreover, the country has been lending a helping hand to other nations through its advanced medical supplies and drugs (especially hydroxychloroquine). With lesser deaths and flattening infection curve as compared to other countries, the country is hopeful to win over the situation sooner than other major economies and this offers the country a plethora of opportunities amid financial distress. Strong governance and competitive advantage are likely to keep the country at an upper edge at this time of crisis.

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Amid Covid Crisis, Indian Pharma Sector Looks Healthier Than All Other Sectors

The Indian pharmaceuticals market stands at the third position in terms of volume and is the world’s thirteenth largest in terms of value. The industry is expected to grow at a CAGR of 22.4% to reach USD 55 billion by 2020. India’s vast raw material base and the availability of a skilled workforce enables it to enjoy competitive advantage. The generic drugs segment covers nearly 70 per cent of the Indian pharma market, whereas Over the Counter (OTC) medicines holds 21 per cent share and patented drugs make up to 9 per cent respectively.

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India’s Pharma Exports Skyrocketed This Year

The pharmaceutical exports of India have steadily grown from $10 billion to $19 billion within 2012-2019. The exports had touched $13.69 billion by January 2020 and are expected to show a growth by 30 per cent to reach US$ 20 billion by the end of FY20. Cheaper stocks and improved production technologies have made several nations approach the country seeking medical assistance through the crisis. Recently, India was asked to remove ban on exports of critical drugs to encourage an easy flow of trade to the affected countries. Among huge collection of drugs manufactured here, one of the anti-malarial drugs, Hydroxychloroquine (HCQ) has caught the sight of the Covid infected countries. As India is the key supplier of affordable and high-quality HCQ, major economies, like the U.S. are eyeing on it for drug supplies causing it to ramp up its production activities. Moreover, drugs like paracetamols and ritonavir are also being massively exported to some of the infected nations. The onset of coronavirus has created a huge spike in the volumes of country’s pharma exports this year paving the way for it to be counted among the top three pharmaceutical markets in 2020 across the globe.

Pharma Stocks Rally, Witness Unprecedented Gains

As per the analysts, the stock market would see a major change in the country’s sectoral leadership with the entry of pharma companies at the top levels after the pandemic departs. They believe that the situation may become a game-changer for the industry leaders who may find themselves not in the same position as now in the future. Analysis reveal that private banks, pharma and insurance sectors would dominate the markets in the coming years giving way to heavy investments in these sectors.

Pointers for Indian pharmacists and health care experts to seek opportunity during coronavirus:

1. Pharma companies have a golden chance to grab the opportunity and cast aside sourcing from China and perform well by gaining the trust of its international
players.

2. Crash in raw materials can be seen as an opportunity to make the country self-reliant in manufacturing API and drugs.

3. Healthcare sector is likely to witness strong gains with 5G technology promising to revolutionize healthcare including diagnostics and real-time interaction between doctors and patients.

4. India can envision itself as a world leader as UNICEF and UNITAID show strong reliance on generic drugs manufactured in India for their healthcare programs.

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Source: ChemAnalyst