India Pharmaceuticals Market Size, Share & Industry Analysis, By Type (Drugs & Vaccines), By Disease Indication (Oncology, Diabetes, Infectious, Cardiovascular, Neurology & Psychiatry, Respiratory, Renal, Obesity, Autoimmune, Ophthalmic, Gastrointestinal, Dermatology, Hematology/Blood, Liver/Hepatology, Genetic, Hormonal/Endocrine, Women’s Health, Reproductive, Allergies, Others), By Drug Type (Biologics & Biosimilars, and Small Molecules/Conventional Drugs), By Route of Administration (Oral, Parenteral, Topical, & Inhalation), By Age Group, By Distribution Channel, and Forecast, 2025-2032

The India pharmaceuticals market size was worth USD 66.02 billion in 2024 and is estimated to grow to USD 72.24 billion in 2025 and reach USD 145.09 billion by 2032. The market is projected to grow at a CAGR of 10.48% during the forecast period.

India is one of the leading manufacturers of generic medicines and known as pharmacy of the world. India has noticed an increase in production capacity of pharmaceutical products, prevalence of chronic diseases such as cancer, and expenditure on public health. These factors are collectively anticipated to drive the growth of the pharmaceutical market in the country. Additionally, strategic collaboration among established players and government support to the market is further expected to propel multifold growth during the forecast period.

• For instance, in July 2025, India and Uzbekistan discussed potential business opportunities to strengthen bilateral engagements and create a robust partnership in the pharma sector. The collaboration is expected to focus on increased investment flow to improve healthcare infrastructure and drug accessibility.

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In 2022, the WHO reported the incidence of various cancer types in India, which highlighted the high occurrence of breast cancer in India.

India Pharmaceuticals Market Trends

Numerous Product Launches of Biosimilars at a Lower Cost are an Observed Prominent Trend

Biosimilars, often known as reference medicine, are highly similar to biological products in terms of mechanism of action. This leads to lower prices of biosimilars in comparison to biologics. These factors have attracted the attention of various key industry players in the Indian pharma industry. Owing to the potential of biosimilars, various key companies are streamlining their resources towards launching new biosimilars.

• For instance, in August 2024, Biocon Biologics collaborated with Janssen Biotech Inc. to commercialize Bmab 1200, a biosimilar of Stelara. Stelara has been approved for the treatment of psoriasis, Crohn’s disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis. Such developments are expected to bolster the market growth during the forecast years.

India Pharmaceuticals Market Growth Factors

High Production Volumes of Generic Medicines and Biosimilars for Export to Drive Market Growth

India is one of the leading providers of generic drugs globally. The country has robust manufacturing facilities and a prominent share in the global supply chain of pharmaceutical products. They provide high quality pharmaceutical generics and biosimilars at affordable cost. Key segments of the Indian pharmaceutical industry are generics, OTC medicines, APIs, vaccines, and biosimilars. These factors are expected to drive the India pharmaceuticals market growth exponentially.

• For example, the Pharmaceuticals Export Promotion Council of India reported that pharmaceutical exports of the country reached USD 30,466.9 million during Apr-Mar FY25, marking a 9.4% increase from the previous fiscal year.

In 2025, the Pharmaceuticals Export Promotion Council of India reported that the country’s pharmaceutical exports reached USD 30,466.9 million during Apr-Mar FY25.

India Pharmaceuticals Market Restraints

Geopolitical Concerns, such as Tariff Wars, Restrict Market Growth

Various risks are associated with the Indian pharmaceutical market, such as tariff wars, changes in the regulatory scenario, differences in the intellectual property laws prohibiting the manufacturing of generics, are affecting the growth of the market.

• For instance, in July 2025, the U.S. announced a review of pharmaceutical products, citing concerns with intellectual property rights and pricing regulations to increase tariffs on Indian pharmaceutical exports.

Segmentation Analysis

By Type

Based on the type segment, the market is divided into drugs and vaccines.

The vaccines segment is anticipated to have the highest Indian pharmaceuticals market share in 2024. Vaccines are further classified into bacterial and viral. India is one of the largest vaccine producers in the world. Along with various government vaccination drives in the country for prevention of numerous diseases, strategic collaborations with global players for distribution in low and middle-income countries also boosts the market growth.

• For instance, in June 2025, Bharat Biotech International Limited (BBIL) received licensing for GSK’s Shigella vaccine candidate, altSonflex1-2-3. The collaboration aimed for the potential distribution of the vaccine in low-and middle-income countries where Shigella poses a significant health threat to children. Such strategic collaborations and partnerships are expected to drive the market.

By Disease Indication

Based on disease indication, the market is segmented into oncology, diabetes, infectious, cardiovascular, neurology & psychiatry, respiratory, renal, obesity, autoimmune, ophthalmic, gastrointestinal, dermatology, hematology/blood, liver/hepatology, genetic, hormonal/endocrine, women’s health, reproductive, allergies, and others.

The oncology segment is projected to grow with a significant CAGR in the upcoming years. The segment is estimated to grow due to a rise in demand for cancer therapeutics in response to its increasing prevalence. Various established players launched generic treatments for cancer in India.

• For instance, in June 2025, Glenmark launched its cancer drug, namely Zanubrutinib, marketed under the brand name Brukinsa in India. The drug is the first Bruton’s tyrosine kinase (BTK) inhibitor approved in India for the treatment of five distinct B-cell malignancies. Such developments reinforce the growth of the segment.

The diabetes segment is likely to account for a dominating share. The high share is attributed to the rising prevalence of diabetes in India. It is one of the leading causes of death across the region. Additionally, to cater to this increasing demand for diabetic medication, various key players are streamlining their resources toward novel product launches to expand their market share.

• For example, in March 2025, Morepen Laboratories launched Empamore, a treatment indicated for type 2 diabetes, heart failure, and chronic kidney disease in India.

By Drug Type

On the basis of drug type segment, the Indian pharmaceutical market can be classified into biologics & biosimilars and small molecules/conventional drugs.

The biologics and biosimilar segment held a major share in the Indian pharmaceuticals market in 2024. The segment is further divided into antibodies and vaccines. India witnessed the launch of various biosimilars due to increased demand attributed to their high specificity and lower cost.

• For instance, in November 2023, Enzene Biosciences launched biosimilar Ranibizumab for the treatment of neovascular age-related muscular degeneration.

By Route of Administration

On the basis of route of administration, the market is distributed into oral, parenteral, topical, inhalation, and others.

The oral segment is expected to capture a largest share of the Indian pharmaceutical market. The high market share is attributed to the numerous benefits demonstrated by oral medications and other pharmaceutical products. They exhibit benefits such as easy administration, cost effective, and a longer shelf life. Such factors have led to increasing product launches for oral drugs and vaccines and are expected to drive the growth in the segment.

• For instance, in May 2022, Sun Pharma launched oral lipid-lowering drug, Bempedoic Acid (Brillo) in India.

By Age Group

Based on the age group, the market is divided into pediatric and adult.

The pediatric segment is likely to account for a substantial market share in India. The increasing focus of the government on pediatric vaccination programs and preventing disease outbreaks drives the segment growth. This also helps to alleviate the economic burden resulting in numerous vaccination programs and launches for the pediatric segment.

• For instance, in November 2023, Indian Immunologicals Limited (IIL) partnered with Polyvac Institute and launched the Mabella (Measles and Rubella) vaccine for children. Such developments are anticipated to drive the segmental growth.

By Distribution Channel

Based on distribution channel, the market is divided into hospitals, pharmacies, drug stores & retail pharmacies, and online pharmacies.

The retail pharmacy is expected to account for a dominating segmental share in the Indian pharmaceutical market. These retail pharmacies have an intricate distribution channel across the country, providing medications to meet the demand of the patients. These factors contribute to a high share of the segment. Also, various key players are focusing on the omnipresence of these retail pharmacies to strengthen their position in the market.

• For instance, in January 2019, Medlife opened around 750 pharmacies across the country in two years, and was acquired in 2021 by PharmEasy. These developments are expected to provide easy access to customers and drive the segmental growth.

List of Key Companies in the India Pharmaceuticals Market

Novartis AG, Sanofi, and AstraZeneca are the prominent players in the India pharmaceuticals market. The other companies with a considerable presence in the market include Novo Nordisk A/S, F. Hoffmann-La Roche Ltd, and other small & medium-sized market players. These pharmaceutical companies are making strategic moves, such as conducting research and development activities for the development of innovative pharmaceutical drugs, vaccines, and employing strategic activities such as collaborations, mergers, and acquisitions, which are expected to increase their market share.

LIST OF KEY COMPANIES PROFILED

• Merck & Co., Inc. (U.S.)
• Pfizer Inc. (U.S.)
• Johnson & Johnson (U.S.)
• AbbVie Inc. (U.S.)
• AstraZeneca (U.K.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Novartis AG (Switzerland)
• Bristol-Myers Squibb Company
• Eli Lilly and Company (U.S.)
• Sanofi (France)
• Novo Nordisk A/S(Denmark)
• GSK plc. (U.K.)
• Amgen Inc. (U.S.)
• Gilead Sciences, Inc. (U.S.)
• Takeda Pharmaceutical Company Limited (Japan)

KEY INDUSTRY DEVELOPMENTS

• August 2025: Intas Pharmaceuticals, an Indian pharmaceutical company launched Hetronifly (serplulimab), the PD-1 inhibitor for the treatment of small cell lung cancer (ES-SCLC), in the Indian market. The company collaborated with Shanghai Henlius Biotech, Inc., to further reinforce its oncology portfolio and strengthen its commitment to delivering cutting-edge therapies to patients in India.
• June 2025: Servier India launched Ivosidenib (Tibsovo), an oral targeted therapy for cancer patients with acute myeloid leukemia (AML) and cholangiocarcinoma, with an isocitrate dehydrogenase-1 (IDH1) mutation. The company received approval from the Central Drugs Standard Control Organization (CDSCO) in May 2025 for the import, sale, and distribution of the medication.

REPORT COVERAGE

The India pharmaceuticals market report provides a detailed analysis of the market. It focuses on market dynamics and key industry developments, such as mergers and acquisitions. Additionally, India pharmaceuticals market analysis includes information about the increasing prevalence of key diseases, technological advancements, shifting trends experienced by the industry new product launches. Besides this, the report also offers insights into the latest industry trends and the impact of various factors on the affecting the demand for pharmaceuticals.

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Report Scope & Segmentation