Pharmaceutical Ingredients are used in the manufacturing process of biological drugs to treat various conditions in humans and animals. The Pharmaceutical ingredients include synthetic and natural APIs (Active Pharmaceutical Ingredients), Pharmaceutical intermediates, and such. The export business of pharmaceutical ingredients can expectantly grow to a great extent in the near future. The world market demand for these vital drug components can skyrocket to approx. 356 billion dollars by 2030, at an expected CAGR of 8.2% per annum. Being one of the frontiers among the world exporters, Pharmaceutical Ingredient Suppliers in India and the best chemical Industries in India are gearing up their quality products to meet the expectation and demands of the world market.
Who is leading the exportation of pharmaceutical ingredients in the global market?
China has frequently topped the list of pharmaceutical exporters. It has made a strong base for the exportation of such products since 1996. And still today they continue to be one of the major exporters of pharmaceutical ingredients.
The United States
According to global reports, the US stands next in the queue to China, and as a first-world nation, America’s great chemical industries not only export their product but also import pharmaceutical ingredients from China and other countries for their own drug manufacturing process.
India has been present in the global pharmaceutical market since the 1950s. Back then, the country started producing significant drugs such as antibiotics and antimalarials under the wing of some foreign manufacturers like Merck Sharp & Dohme Corporation, and Eli Lilly company. India has been producing pharmaceutical products for drugs such as magnesium, potassium, iron, and calcium, along with trace elements like copper, chromium, manganese, which are available as citrate, acetate, gluconate, malate, propionate and many more. WBCIL is one of the best chemical manufacturer in India that hail from the state of West Bengal.
One of the most vital pharmaceutical markets in the world, Germany has significantly exported its pharmaceutical ingredient products to China. As per the reports, Germany may have had a 4-billion-dollar pharmaceutical exportation to China in the year 2017.
The fifth in the line, Japan owns a large global market of pharma intermediates. According to a report, in the year 2016, Japan owned 30% production value of the total pharmaceutical intermediates industry in the world.
The Pharmaceutical business is essentially dependable on the chain of exporters and manufacturers of medical drugs and chemicals. And significantly enough, India has been a great contributor to the market. The WBCIL, or West Bengal Chemical Industries Limited, is one of the reliable Pharmaceutical Ingredient Suppliers in India, that has a wide range of products and ingredients which includes powder grade, DC grade & premix for drug composition, fine APIs, chelated minerals, and animal nutrition. To find out more about our products compendium and exports, visit our official website at https://wbcil.com/.