Government plans to introduce QR barcodes for vaccines, cancer drugs and antibiotics to stop fakes in the market

  • The market for cancer drugs in India was $1.83bn in 2024 and is expected to reach $2.62bn by 2029, as per Statista, a global data and business intelligence platform.

Priyanka Sharma
Published26 Aug 2024, 08:20 PM IST
These QR codes will validate the authenticity of the medicines, as scans will display the name and address of the manufacturer; batch number; date of manufacturing; date of expiry; and manufacturing licence number, among other details.
These QR codes will validate the authenticity of the medicines, as scans will display the name and address of the manufacturer; batch number; date of manufacturing; date of expiry; and manufacturing licence number, among other details.(AFP)

QR codes may be made mandatory for vaccines, cancer drugs and antibiotics to prevent the supply of counterfeits.

These QR codes will validate the authenticity of the medicines, as scans will display the name and address of the manufacturer; batch number; date of manufacturing; date of expiry; and manufacturing licence number, among other details.

The plan follows the last year’s move by India’s apex drug regulator for strict implementation of bar codes or QR codes on 300 common medicine brands such as Allegra, Shelcal, Calpol, Dolo, and Meftal Spas.

QR Code to check quality of medicines

“Displaying of QR code on vaccines, cancer drugs and antibiotics was discussed during the Drugs Technical Advisory Board (DTAB) meeting held last week. The plan is to roll out this initiative in a phased manner. This is an important task to keep a check on quality of drugs in country to ensure patient safety,” said an official aware of the matter.

Also Read: DCGI plans to make it easier to manufacture disinfectants, a growing sector

Moreover, the top drug regulator has ordered strict enforcement of existing regulations including Schedule H1, said the official.

According to the Drugs Rule, 1945, vaccines, cancer drugs and antibiotics drugs fall under schedule H. These are ‘high-end drugs’ that they cannot be sold without a prescription.

Market size

CRISIL Market Intelligence and Analytics states that the domestic vaccine market size stood at about Rs. 1,730 crore for fiscal year 2024.

As far as cancer drugs are concerned, India is experiencing a surge in demand for affordable drugs largely due to extensive government initiatives to improve access to health. The market size of oncology drugs in India was $1.83bn in 2024 and is expected to reach $2.62bn by 2029, as per Statista, a global data and business intelligence platform.

Also Read: Drugs licence approval only if you show good manufacturing practices: DCGI

Industry stakeholders said that the rising demand for vaccines in India is fueled by a growing population, heightened healthcare awareness, and government efforts to boost immunization coverage.

Dr Santy Sajan, Group COO, Paras Health, said, “This forward-thinking move is poised to significantly impact the pharmaceutical industry by enhancing transparency, improving traceability, and ensuring the authenticity of these critical products. For the government, this system will streamline regulatory oversight, reduce counterfeit risks, and ultimately safeguard public health.”

He said that the vaccine market is projected to grow by 5.63% annually from 2024 to 2029, reaching $1.31 billion by 2029. By 2030, the Indian oncology drug market is expected to achieve a value of $10.6 billion. 

Queries sent to the Union health ministry remained unanswered.

 

 

 

Catch all the Business News, Politics news,Breaking NewsEvents andLatest News Updates on Live Mint. Download TheMint News App to get Daily Market Updates.

MoreLess
First Published:26 Aug 2024, 08:20 PM IST
Business NewsPoliticsPolicyGovernment plans to introduce QR barcodes for vaccines, cancer drugs and antibiotics to stop fakes in the market

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Bharat Electronics share price

    283.95
    03:58 PM | 1 OCT 2024
    -1.1 (-0.39%)

    Tata Steel share price

    167.00
    03:56 PM | 1 OCT 2024
    -1.45 (-0.86%)

    Tata Power share price

    481.00
    03:58 PM | 1 OCT 2024
    -1.7 (-0.35%)

    Zee Entertainment Enterprises share price

    140.05
    03:55 PM | 1 OCT 2024
    2.4 (1.74%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    Caplin Point Laboratories share price

    2,080.30
    03:52 PM | 1 OCT 2024
    182.75 (9.63%)

    PB Fintech share price

    1,729.65
    03:57 PM | 1 OCT 2024
    113.65 (7.03%)

    Welspun Living share price

    175.00
    03:50 PM | 1 OCT 2024
    11.25 (6.87%)

    National Aluminium Company share price

    224.15
    03:56 PM | 1 OCT 2024
    13.75 (6.54%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      77,245.00-160.00
      Chennai
      77,251.00-160.00
      Delhi
      77,403.00-160.00
      Kolkata
      77,255.00-160.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.86/L0.00
      Chennai
      100.85/L-0.13
      Kolkata
      104.95/L0.00
      New Delhi
      94.72/L0.00

      Popular in Politics

        HomeMarketsPremiumInstant LoanMint Shorts