By Rajdeep Sardesai/BloombergNews.comThe United Nations says the world needs to double the supply of medicines to help hospitals run in time, but some experts warn that the problem will not be resolved until the government and private industry have more time to develop the technology to help them meet that demand.
India has a shortage of more than 2,500 medicines, with more than two-thirds of the medicines being generic and another third being over-the-counter, according to the U.N. Office on Drugs and Crime (UNODC).
The U.S. has also said that it expects to have a shortage by the end of 2019.
The U.K., France and Germany have also said they will have shortages in the next three to four months, and the U, U.A.E., Canada and Germany all expect shortages in 2020.
Experts warn that India is headed for a prolonged period of shortages, with shortages predicted to last a decade, if not longer, according the UGC Group, a health care consulting firm.
India is on pace to hit its second-highest rate of deaths in the world by 2040, and has already surpassed countries such as Afghanistan, where the country has the highest death rate in the developed world.
India has the world’s highest death rates among nations that have adopted modern medicine, and experts fear that the country’s healthcare system is struggling to cope with an aging population.
“The challenge is going to be the supply side of the equation,” said M.K. Sivakumar, the founder of the Ugc Group, in a phone interview.
“The government has to do more to provide better quality medicine to the patients and the private sector will have to provide more.”
While some of the drugs are cheaper, the cost of medicines is expected to be higher than the cost to patients.
The government says the government will buy drugs from private companies to reduce the price of medicines and also reduce the supply.
The government plans to invest at least $300 billion ($4.2 billion) in medicines and to expand private sector involvement in manufacturing and distribution of medicines, Finance Minister Arun Jaitley said in an interview last month.
Ahead of the government’s plans, Jaitsey said India will be looking for innovative approaches that would reduce costs and improve quality, which are likely to be critical to the nation’s recovery from a pandemic.
The UGC group says that in the last 20 years, India’s economy has grown by $10.3 trillion.
The group says India has one of the lowest life expectancies among nations in the industrialized world.
India’s economy grew by 8.9% in 2015, the fastest rate in Asia and up from 8.1% in 2010.
It has been the fastest-growing economy in the region, though the government is trying to slow the growth rate.
India’s health system is already suffering from the pandemic, with millions of people unable to afford essential medicines.