Open AccessA study on the post pandemic impact on the pharmaceutical industry of India
Author(s) -
Runumoni Lahkar Das,
Safiqul Haque,
Bishal Patowary
Publication year - 2022
Publication title -
international journal of health sciences (ijhs) (en línea)
Language(s) - English
Resource type - Journals
eISSN - 2550-6978
pISSN - 2550-696X
DOI - 10.53730/ijhs.v6ns2.4993
Subject(s) - business , safer , government (linguistics) , pandemic , pharmaceutical industry , china , covid-19 , purchasing , value (mathematics) , commerce , value proposition , marketing , microbiology and biotechnology , geography , medicine , philosophy , linguistics , computer security , disease , pathology , machine learning , computer science , infectious disease (medical specialty) , biology , archaeology
During the preceding five decades, the Indian pharmaceutical industry has made significant progress in both the domestic and international economic sectors. The sector employs about 2.7 million people directly or indirectly and ranks third in terms of volume and 14th in terms of value internationally. The government's drive for the pharma sector can be interpreted as an attempt to wean India off of raw material imports from China, which are significantly utilised in local medication production. COVID-19 has given the Indian pharmaceutical sector the possibility to create APIs and intermediates. As a result of the pandemic, the digital and e-commerce industries are becoming increasingly crucial. The E-Pharma industry has developed tremendously as a result of the pandemic-induced lockdown, as individuals have realised that purchasing medicines online is a safer method to protect them from infection. Recognizing the potential of the online pharma business in the future, major E-commerce companies like as Amazon and Reliance Retail have begun to invest in it. The online pharma sector has a lot of promise in the next years because of the comprehensive value proposition supplied by E-pharma companies, historical experiences, and the migration to digital platforms owing to COVID-19.