Counterfeit Medicines Trembling India’s Position in the Global market

India is one of the main worldwide manufacturers of low-cost non-specific drugs because of its high demand and economical assembling costs. The nation’s pharmaceutical market is the world’s third biggest as far as volume, yet the thirteenth biggest in value.

However, counterfeiting is inescapable, with an expected 20% ($4.3 billion of every 2013-14) of India’s medication market involved fake drugs. While falsifying is a worldwide issue, it is substantially more common in low and centre wage nations with an expected 10 to 30% of meds in these nations being fake, contrasted with only one percent of meds in high-wage countries.

There are many reasons for the huge counterfeit medicine market in India like lack of consumer awareness, high prices of original medicines, limited access to medicines in rural areas, etc.

Majority of the fake medicines are taken unconsciously, as distinguishing fake medications is troublesome, even for medical experts.
Some of the challenges posed by fake medicines are:

1. Loss of business opportunities – Counterfeit medicines have resulted in severe losses in the market share and many business opportunities for the potential manufacturers. It is evaluated that fake drugs add to a loss of $46 billion every year to pharmaceutical organizations worldwide.

2. Sabotaging the use of generics – An expected 90% of the estimation of India’s drug market is ruled by marked generics. Keeping in mind the end goal to diminish human services costs, numerous governments advance the utilization of more affordable unbranded non-exclusive pharmaceuticals, yet the accessibility of fakes is a snag to take-up.

3. Expanding the monetary and social burden – The utilization of fake drugs brings about an expansion in cost to the healthcare system because of the requirement for encouraging mediations for undesirable symptoms as well as cutting-edge sickness movement. This is a specific issue for Indians, where out of pocket sedate spending is as high at right around 70% and affordability levels are low.

4. Resourcing – To handle the issue of fakes, the Indian government has utilized different anti-counterfeiting strategies, however with restricted effect, generally because of India’s Central Drugs Standard Control Organization, the nation’s medication controller, having just 323 workers in 2014, around two percent of the size of the FDA. This under-resourcing is probably going to undermine the achievement of any future procedures.

Measures to overcome the issue of counterfeit medicines: –

1. Increasing public awareness: Controlling the spread of fake solutions is a major test, however, instructing patients and enhancing mindfulness is a decent place to begin. Human services experts, medicinal specialists and pharmaceutical organizations all have a part to play in telling patients and teaching them to identify the fakes. This is a sizeable test given that over a fourth of the population is ignorant, and very nearly 70% of the population live in rural areas where self-pharmaceutical is predominant. Nonetheless, roughly 78% of India’s 650 million cell phone users approach the web, and online training might be a much more powerful approach to handle the issue rapidly and efficiently.

2. Executing imaginative anti-counterfeiting measures: Insufficient anti-counterfeiting measures by pharmaceutical organizations make their items helpless against forging. The fake medicine marks in the market cause severe damage to the legitimate brands.
Most organizations are following overall obligatory strategies like mass serialization in which machine-comprehensible codes containing a serial number are added to each pack of medicine empowering the item to be tracked. Pharmaceutical organizations can battle the ascent of duplicating by executing new age anti-counterfeiting technologies, for example, the utilization of measurable markers (compound, natural and DNA taggants), cloud-based inventory network information vaults, and blockchain innovation in supply chains.

3. Creating stricter laws: In India, The Drugs and Cosmetics Act (1940) regulates the import, assembling and distribution of medications, enabling government offices to examine, seize and confiscate items observed to be ‘corrupted false misbranded’. The demonstration was amended in 2008, which expanded the punishment to guilty parties, yet there are certain difficulties, including conflicting utilization of laws crosswise over states, powerless medication quality examination frameworks, and frail arraignment of fake solution makers. More compelling adherence to existing laws and receiving stricter laws can possibly enhance the battle against forging.

Conclusion
Worldwide pharma organizations are looking to India as a future development prospect because of its quickly developing economy, maturing populace, developing white collar class, modest work, and enhancing human services arrangement. Be that as it may, counterfeiting is putting India in danger of losing outside ventures. Upgrades to the administrative scene and stricter disciplines for producers of fakes could altogether enhance financial specialist notion. Without solid talk and activity, India dangers losing profitable venture from the pharmaceutical business, and therefore, undermine the well-being of its population.