Indian pharma to reach US$ 120-130 billion by 2030

The Indian pharma industry has set a vision to reach US$ 120-130 billion by 2030 from US$ 38 billion presently, according to a report by Indian Pharmaceutical Alliance (IPA) in collaboration with McKinsey. The IPA stated that to achieve this objective, stakeholders across the board need to accelerate the progress towards universal healthcare by providing access to high quality and affordable drugs. It also highlighted the role that the government can play by means of strategic interventions like increasing expenditure on healthcare from about 1% to 2.5% by 2025 and to 5% of GDP by 2030, in step with the norm in other developed economies in Europe and North America.