AI, machine learning to help Indian pharma industry to pivot on innovation

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AI, machine learning to help Indian pharma industry to pivot on innovation - Business Standard

Quick Summary:

As technological advancements like AI, machine learning and precision medicine revolutionise drug discovery, manufacturing and patient care, Indian pharmaceutical industry is set for a 'profound transformation' in 2025 with innovation, wider global access and improvement in quality becoming key themes for the future.

The industry, which is expected to grow nearly two-fold to around USD 130 billion in size by 2030, is looking to take advantage of conducive policies, demographic and digital talent, in making India play a pivotal role in advancing global health for all.

Currently accounting for around 20 per cent of the overall generic drug sales globally, the Indian pharma industry is focussing on research excellence and innovation in order to position the country as a global hub for high-quality, affordable pharmaceuticals.