India’s contract manufacturing gains momentum due to high quality & cost effectiveness: Expert
India is strengthening its scope in contract manufacturing as the global customers commend the strengths and dependability of its pharma and biotech sectors. From the industry’s skilled workforce, cost-effectiveness, regulatory framework, scalability, to its wide basket of offering and global reach, contract manufacturing underscores India’s robust capabilities as the ‘pharmacy of the world’, noted Siddharth Singhal, co-founder & managing director, Vibcare Healthcare. The pharma and biotech sectors’ vast pool of scientifically skilled professional are adept in research, development, and manufacturing. With numerous top-tier institutions churning out thousands of qualified graduates each year, this industry always retains a high talent level, he added. Pharma manufacturing in India often entails reduced costs without compromising on the quality of the medicines. The combination of skilled labor available at competitive rates and the efficient use of resources makes India a preferred destination for contract manufacturing, Singhal told Pharmabiz in an email. The country is compliant with global regulatory standards. With the Drug Controller General of India (DCGI) at the helm, there is consistent adherence to international standards like WHO-GMP, enabling the industry to ensure that medicines manufactured at its production plants here meet global expectations, he said. The expansive infrastructure available in India, ranging from research labs to manufacturing facilities, ensures businesses can scale their operations as required. Further, India’s vast and varied biodiversity is a treasure trove for the pharmaceutical sector, especially in herbal and ayurvedic products. There is an impressive global reach, as Indian pharmaceutical products, manufactured under contract or otherwise, are exported to around 200 countries. This vast distribution network underscores the global trust in India’s manufacturing capabilities, he noted. The future of India’s contract manufacturing sector looks promising. The Indian CMO market, valued at US$ 10 billion in 2019, is projected to reach between US$ 23 billion and US$ 25 billion by 2025. With a significant portion of contract manufacturing facilities located in India and ongoing policy changes, the sector is poised for robust growth, said Singhal.At the Panchkula-Haryana based Vibcare Healthcare, with a backward integration approach, the company has managed to streamline its supply chain, ensuring quality from raw material procurement to the delivery of the final product. Its immediate focus is on expanding its product portfolio, targeting untapped markets, and bolstering its R&D capabilities. It recently inaugurated its WHO-GMP-certified manufacturing facility in Panchkula. Now the company is looking for global partnerships to make healthcare accessible and affordable for all, said Singhal.
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