Overview of Procurement in Healthcare & Pharmaceuticals Sector
The healthcare and pharmaceutical sector is a major employer in India, with government spending projected to increase from 1.4% to 2.5% of GDP by 2025. The Indian pharmaceutical industry exports 20% of the world’s generics, driven by its competitive manufacturing costs. The global healthcare industry is experiencing rapid technological transformation, impacting research, product development, IT, procurement, and distribution.
Key drivers of healthcare industry growth include
Favorable regulatory changes 
A shift towards personalized, patient-centric, value-based care
The adoption of new technologies
Enhanced operational efficiency for cost savings.
Favorable regulatory changes
A shift towards personalized, patient-centric, value-based care
The adoption of new technologies
Enhanced operational efficiency for cost savings.
Core Challenges in Healthcare & Pharmaceuticals Industry
The sector faces numerous challenges, with the most prominent being
Advanced Technology & Integration
Issues with harnessing health tech, information, and integrated services.
Cybersecurity & Costs
Rising costs, IT investment challenges, and cybersecurity threats.
Pharmaceutical & Regulatory Pressures
Price pressures, regulatory changes, and market disruptions.
Staffing & Innovation Returns
Staffing shortages, diminishing returns from research and drug innovations.
Supply Chain Management
Procurement, delivery, and transportation challenges.
