Indian pharmaceutical companies currently supply 60% of the global demand for various vaccines.
India is currently the world’s third-largest vaccine manufacturer by volume, with 3,000 pharma companies having a strong network of manufacturing facilities. It has the largest pharma companies approved by the FDA with a modern state of the art technology. The industry generates a surplus trade every year as more than 62 percent of the global vaccine demand is met by India alone. Further, it is the largest generic medicines provider, occupying a 20% share in global supply by volume.
India has a substantial cost and resource advantage to produce vaccines at low costs, which is approximately 33% lower than that of the U.S. The government initiative towards rural health programs, lifesaving drugs, and preventive vaccines has helped the pharmaceutical companies to grow substantially.