India Pharmaceutical Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 12.3% (2024-2032)

The rising number of initiatives aimed at improving healthcare infrastructure, increasing access to affordable medicines, and promoting domestic manufacturing by the governing body are supporting the market growth of pharmaceutical industry in India. According to IMARC Group, The India pharmaceutical market size reached US$ 54.6 Billion in 2023 and grow at a CAGR of 12.3% to reach US$ 163.1 Billion by 2032.

India Pharmaceutical Industry Trends and Drivers:

The Make in India campaign, for instance, is encouraging investment in pharmaceutical manufacturing, leading to the establishment of world-class production facilities that meet international standards. Moreover, the pharmaceutical industry in India benefits from a vast pool of skilled professionals, including scientists, chemists, and biotechnologists, who encourage innovation and enhance production capabilities. The availability of world-class research and development (R&D) infrastructure, combined with cost-effective manufacturing processes, is enabling pharmaceutical companies to produce high-quality products at competitive prices.

Apart from this, the presence of a strong distribution network ensures the availability of medicines across the country. The existence of a well-established supply chain, coupled with advancements in logistics and transportation, is enabling pharmaceutical companies to reach even the most remote areas. In addition, the growing use of digital and e-commerce platforms in the distribution of medicines is positively influencing the market. The rise of online pharmacies and digital health platforms is making it easier for individuals to access a wide range of pharmaceutical products from the comfort of their homes. This shift towards digital channels is particularly significant in India, where access to healthcare services can be challenging in remote areas. Furthermore, the increasing demand for nutraceuticals and dietary supplements, as more people become health-conscious and focus on preventive healthcare, is contributing to the market growth. Indian pharmaceutical companies are capitalizing on this trend by expanding their product offerings to include a wide range of nutraceuticals and health supplements. Besides this, the growing awareness about mental health issues and the destigmatization of mental illness is driving the demand for medications that address conditions, such as depression, anxiety, and other psychiatric disorders. Indian pharmaceutical companies are responding to this demand by investing in research operations of new psychiatric drugs.

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India Pharmaceutical Industry Segmentation:

The report has segmented the market into the following categories:

Breakup 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

Breakup by Nature:

• Organic
• Conventional

Breakup by Region:

• 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.

• 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 (2018-2023)
• Market Outlook (2024-2032)
• 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.

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