Pharma Manufacturers Can Tap USD 29.6 Billion Export Market in USA

MUMBAI, 28th January 2020 (GNI): USA is India’s largest pharmaceutical importer and imported pharma products worth USD 6.5 billion from India in 2018. However, India had a miniscule share of 5.6% in USA’s total imports of pharmaceutical products worth USD 116 billion from the world in 2018.

With its robust pharmaceutical manufacturing capabilities, India has the potential to enhance its pharma exports to USA. MVIRDC World Trade Center Mumbai has, therefore, identified 10 products which constituted about 25% of USA’s pharma imports from the world in 2018 at USD 29.6 billion and about 17% of USA’s pharma imports from India in 2018, amounting to USD 1 billion.

USA’s imports of these products from India individually constituted a share of less than 10% and more than 2% in USA’s imports of these products from the world in 2018. However, USA’s imports of these products from India cumulatively constituted only 3.7% of its imports of these products from the world in 2018.

Indian pharma exporters can increase their presence in the US market through exporting these products:

USA’s Pharma Imports from India with a share of less than 10% and more than 2% in USA’s Imports from the World

HS Code

Product Description

USA’s Imports from India (2018, USD Million)

USA’s Imports from World (2018, USD Million)

Share of USA’s Imports from India in USA’s Imports from World

3004505020

Single Vitamins, Not Combined With Minerals Or Other Nutrients

5

54

9.32%

3004909240

Medicaments Primarily Affecting The Central Nervous System, Put Up In Measured Doses Or In …

191

2,643

7.24%

3004909276

Cough And Cold Preparations Put Up In Measured Doses Or In Forms For Retail Sale, Nesoi

17

277

6.26%

3004909245

Dermatological Agents And Local Anesthetics Put Up In Measured Doses Or In Forms Or Packings …

52

847

6.15%

3004909285

Medicaments Primarily Affecting The Eyes, Ears Or Respiratory System, Put Up In Measured Doses …

62

1,320

4.66%

3006600000

Chemical Contraceptive Preparations Based On Hormones Or Spermicides

97

2,135

4.54%

3005901000

Sterile Surgical Catgut, Similar Sterile Suture Materials And Sterilesuture Materials And Sterile …

5

117

3.88%

3003900100

Other Medicaments (Excluding Goods Of Heading 3002, 3005 Or 3006) Consisting Of Two Or More …

34

1,075

3.19%

3004909215

Antineoplastic And Immunosupressive Medicaments Put Up In Measured Doses Or In Forms Or Packings …

576

18,983

3.04%

3004320000

Medicaments Containing Corticosteroid Hormones, Their Derivatives And Structural Analogues

53

2,178

2.43%

Total of the Above Products

1,092

29,627

3.69%

Total Pharmaceutical Imports

6,526

116,348

5.61%

Source: ITC

Regulatory agencies such as the USFDA often challenge Indian pharmaceutical manufacturing standards. About 18 Indian pharma companies received USFDA warning letters for their Indian plants in 2019, higher than 10 in 2018.

While encouraging Indian pharmaceutical manufacturers to explore the less-tapped export potential, Ms. Rupa Naik, Senior Director, MVIRDC World trade Center Mumbai suggests, “Indian pharmaceutical products are being demanded by many global healthcare programs owing to their affordability and availability. Still, India has a share of only about 2.4 per cent in global pharma exports. In order to comply with the rising expectations of global healthcare investigation agencies, our pharma manufacturers will have to adhere to rigorous quality testing standards, which will in turn enhance our share in global pharma exports.”ends

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