Pharmaceutical Market - India
Market Statistics
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 61.36 Billion
Market Size in 2033: USD 174.31 Billion
Market Growth Rate (CAGR) 2025-2033: 11.32%
According to IMARC Group's report titled "India Pharmaceutical Market Report and Forecast 2025-2033," the market reached USD 61.36 billion in 2024. Looking forward, IMARC Group expects the market to reach USD 174.31 billion by 2033, exhibiting a growth rate (CAGR) of 11.32% during 2025-2033.
India Pharmaceutical Market Trends and Drivers:
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Indian pharmaceutical market is witnessing strong growth fueled by a string of structural and demand-led drivers that are reshaping the country's healthcare sector.
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Underpinning growth in incidence of chronic diseases like diabetes, cardiovascular disease, and cancer is fueling long-term prescription drug and specialty pharma demand.
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Besides this, increased health consciousness and increasing disposable incomes are allowing consumers to spend more on healthcare products, from wellness and preventive.
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Besides that, the government's upcoming health program such as Ayushman Bharat and expansion in the health insurance cover is contributing towards access to basic drugs in rural as well as urban India.
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Apart from that, the robust domestic manufacturing industry and India being a global leader in low-cost pharmaceuticals is drawing more investment by local as well as foreign players.
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Apart from that, the demand for generic medicines continues to increase, based on their low cost and increasing popularity, both within as well as outside the country.
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Second, the increasing growth in alliances, licensing deals, and research spending by Indian pharmaceuticals and multinationals is propelling innovative and new drug treatments.
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With this, increased penetration of e-pharmacies and penetration of digital health platforms is redefining the drugs' distribution chain by providing convenience, accessibility, and improved price transparency to the consumer.
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In addition, increased focus on over-the-counter and self-medication products is also driving market growth, especially in non-metro markets.
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In addition to this, there is also increased momentum for biologics, biosimilars, and nutraceuticals because of the changed consumer behavior through lifestyle driven by more individualized and holistic healthcare requirements.
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In addition, technology advancements in drug development, clinical trial progress, and pharma logistics are improving supply chain efficiency and product quality.
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In addition, policy initiatives towards protection of intellectual property rights, quick approvals of medicines, and incentives for R&D are forming an increasingly favorable innovation ecosystem.
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Lastly, the unlocking of export channels of Indian pharmaceuticals, particularly to the American, European, and African markets, are turning the industry into a global behemoth.
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Overall, synergy between expansion in development of healthcare infrastructure, patient base growth, pro-business policies, and private sector-driven innovation is fueling Indian pharmaceutical industry growth momentum.
India Pharmaceutical Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India pharmaceutical market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Analysis by Type:
- Pharmaceutical Drugs
- Cardiovascular Drugs
- Dermatology Drugs
- Gastrointestinal Drugs
- Genito-Urinary Drugs
- Hematology Drugs
- Anti-Infective Drugs
- Metabolic Disorder Drugs
- Musculoskeletal Disorder Drugs
- Central Nervous System Drugs
- Oncology Drugs
- Ophthalmology Drugs
- Respiratory Diseases Drugs
- Biologics
- Monoclonal Antibodies (MAbS)
- Therapeutic Proteins
- Vaccines
Analysis by Nature:
Regional Analysis:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players. Some of the key players are:
- Abbott India Ltd (Abbott Laboratories)
- Aurobindo Pharma Limited
- Biocon Limited
- Cadila Pharmaceuticals Ltd.
- Cipla Ltd.
- Divi's Laboratories Limited
- Dr. Reddy’s Laboratories Ltd.
- GlaxoSmithKline Pharmaceuticals Limited (GSK plc)
- Lupin Limited
- Mankind Pharma
- Merck Life Science Private Limited (Merck KGaA)
- Novartis India Limited (Novartis AG)
- Pfizer Healthcare India Pvt. Ltd. (Pfizer Inc.)
- Procter & Gamble Health Limited (The Procter & Gamble Company)
- Sun Pharmaceutical Industries Ltd.
- Torrent Pharmaceuticals Ltd. (Torrent Group)
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
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