China+1 opens larger share for India in global pharma manufacturing beyond generics: BCG report
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The report highlighted that the «China+1» strategy, which involves companies diversifying operations beyond China, has opened doors for other Asian countries, including India. This shift is driving investments into India's pharma sector, enabling it to expand beyond its traditional focus on generic drugs.
«India to capture a larger share of global pharma manufacturing, expanding beyond generics… As pharmaceutical companies look to diversify their investments and manufacturing operations beyond China, Indian players are capitalizing on this opportunity,» the report read.
As pharmaceutical companies look to reduce reliance on China, India is emerging as a key player in the global supply chain. Indian pharmaceutical services are 20 per cent cheaper than those offered by China, making the country an attractive destination for manufacturing operations.
The report also identified four major sectors for healthcare investments: health services, pharmaceuticals and biotechnology, digital health, and MedTech.
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