Mr.Nair
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True. Chinese cancer patients buy medicines from India, because it's 10 times cheaper.
Good for patients to save lot of money on these medicines.
Indian vaccines are exported to 150 countries. India produces 40-70 per cent of the WHO demand for DPT & BCG and 90 per cent of measles vaccine. Approximately 70 per cent of the patients in developing countries receive Indian medicines through NGOs like The Clinton Foundation, Bill & Melinda Gates Foundation, Doctors Without Borders, the UNCTAD etc.
The Indian pharmaceutical industry is estimated to grow at 20 per cent compound annual growth rate (CAGR) over the next five years, as per India Ratings, a Fitch Group company. Indian pharmaceutical manufacturing facilities registered with US Food and Drug Administration (FDA) as on March 2014 was the highest at 523 for any country outside the US.
So as the healthcare industry grows in emerging markets, more companies focus to develop medicines in such markets which creates a decline in cost of medicine, which can be afforded by large mass.
Low cost medicine also a reason for an increase of medical tourism in India