Hyderabad, Feb 26 (UNI) Generic drugs form the largest segment of the Indian pharmaceutical sector holding 70 per cent of the market share by revenue in 2017 and this segment is expected to expand in India in the wake of Ayushaman Bharat Initiative announced by Indian government in August last year.
India is also the world’s largest provider of generic medicines, with 20 per cent of all global generics (in terms of market value) in last year coming from India, said EY, the leading global professional services organisation, in its report released at the three day inaugural function of 16th edition of BioAsia 2019 here on Monday evening.
The US is the biggest generics export destination for India which supplies approximately 40 per cent of the US’s generic drug needs, it revealed.