India Generic Drugs Market Size and Forecast 2028

Summary

Report Description

India Generic Drugs market stood at USD 24.53 Billion in 2022 and is expected to grow at a steady CAGR of 6.97% during the forecast period. This can be attributed to the growth rate during the forecast years. The generic drugs market is driven by the major factors that contribute to the growth of the generic drugs market, including the increasing prevalence of chronic diseases, diabetes, cardiovascular disease, and sedentary lifestyle. The surge in the geriatric population is another factor to be considered as the comorbidities are more in the old population, thus requiring more medications with the easiest route for drug administration. The incidence of chronic disease and other complications requires long-term medication. While generic drugs are available at a low cost and branded drugs come at a premium price, both have the same chemical composition, making patients prefer generic drugs over branded drugs according to their budget. If it is a chronic disease, the treatment goes for a longer period; hence, the sales of generic drugs also increase as the long treatment process affects people's budgets, and many are unable to cope with the long-term medication process because of the high cost of branded drugs. Thus, it will enhance the growth of the generic drugs market.

Patent Cliff

Any new drug that enters the market maintains its exclusivity because of its protection by the patent for 20 years; thus, pharmaceutical companies do not face any competition from other companies for their generic version during this phase. These generic drug production companies can only enter the market after the branded drug’s patent expiration, which usually lasts for 20 years. But the short expiration and gap between re-filing of the new drug open the door for the generic drugs production companies for the drug products with an increase in competition, leading to a drop in generic medication prices.

Initiatives By Government

The demand for generic drugs is growing as governments and individuals seek ways to cut healthcare expenditures. Initiatives by governments and other regulatory bodies for awareness of the availability of generics like Pradhan Mantri Bhartiya Jan Aushadi Yojana have become the highlight, providing quality medicines at affordable prices to the people. This scheme is well established and running in each state of India with its high popularity among the people with average to low-income categories aiding public the access to medications.

Low Cost of Generic Drugs

The low cost of generics is an alternative to branded drugs. The growing population base, especially the geriatric population has significantly increased the demand for generic drugs on account of their affordability and effectiveness, which is same as branded drugs. India is one of the largest producers of generic drugs and bulk exporter of generic drugs worldwide; thus, low-cost generic drugs are readily available in India. As chronic disease requires long-term therapy, the marketed medications are comparatively expensive. Thus, people opt for generic drugs because of their low cost. Furthermore, the more availability of generic drug options because of the entry of new players into the market.

3-D Printing Technology

In the generic medicines business, 3D printing technology has the potential to revolutionize drug manufacturing. 3D printed drugs aid R&D productivity while also providing new benefits to patients. With 3D printing, drugs are customized in any size, form, and texture, which is not achievable with typical generic medication manufacturing. 3D printing can aid in producing generic medications with varying release dates, and tastes. GlaxoSmithKline (GSK), for example, recently completed research where 3D printing and ultraviolet (UV) were utilized to create tablets to treat Parkinson's disease. GSK is investing in 3D printing advantages to create pills and tablets, according to Martin Wallace, director of GSK Technology. In addition, Aprecia Pharmaceuticals introduced their 'ZipDose' technology, which produces 3D printed medications.

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Market Segmentation

The India generic drugs market is segmented based on type, mode of drug delivery, form, source, distribution channel, application, and region. Based on type, the market can be split into small molecule and biosimilars. Based on mode of drug delivery, the market can be divided into oral, topical, parenteral and others. Based on form, the market is divided into tablets, capsules, injection, and others. In terms of source, the market can be categorized into contract manufacturing organizations and in- house. Based on distribution channel the market is split into hospital pharmacies, retail pharmacies, online pharmacies, and others. Based on application the market is divided into neurology, oncology, cardiovascular diseases, diabetes, anti-inflammatory diseases, and others. Based on region distribution, the market can be fragmented into North, South, East & West.

Company Profiles

Sun Pharmaceutical Industries Limited, Torrent Pharmaceuticals Limited., Cipla Limited, Lupin Limited, Piramal Group, Glenmark Pharmaceuticals Limited, Biocon Limited, Dr. Reddy’s Laboratories Limited, Aurobindo Pharma Limited.

Attribute	Details
Market size value in FY2022	USD 24.53 Billion
Revenue Forecast in FY2028	USD 36.51 Billion
Growth Rate	6.97%
Base Year	2022
Historical Years	2018 – 2021
Estimated Year	2023
Forecast Period	2024 – 2028
Quantitative Units	Revenue in USD Billion, and CAGR for 2018-2022 and 2023-2028
Report Coverage	Revenue forecast, company share, competitive landscape, growth factors, and trends.
Segments Covered	· Type · Mode of Drug Delivery · Form · Source · Distribution Channel · Application
Regional Scope	North; South; West; East;
Key Companies Profiled	Sun Pharmaceutical Industries Limited, Torrent Pharmaceuticals Limited., Cipla Limited, Lupin Limited, Piramal Group, Glenmark Pharmaceuticals Limited, Biocon Limited, Dr. Reddy’s Laboratories, Aurobindo Pharma Limited, Teva Pharmaceuticals Limited.
Customization Scope	10% free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs. Explore purchase options
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

Report Scope:

In this report, India generic drugs market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

· India Generic Drugs Market, By Type:

Small Molecule Generics
Biosimilars

· India Generic Drugs Market, By Mode of Drug Delivery:

Oral
Topical
Parenteral
Others

· India Generic Drugs Market, By Form:

Tablets
Capsule
Injection
Others

India Generic Drugs Market, By Source:

Contract Manufacturing Organizations
In- House

India Generic Drugs Market, By Distribution Channel:

Hospital Pharmacies
Retail Pharmacies
Online Pharmacies
Others

India Generic Drugs Market, By Application:

Neurology
Oncology
Cardiovascular Diseases
Diabetes
Anti-Inflammatory
Others

India Generic Drugs Market, By Region:

North
South
West
East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India generic drugs market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

· Detailed analysis and profiling of additional market players (up to five).

Table of content

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on India Generic Drugs Market

4. Executive Summary

5. Voice of Customer

5.1. Brand Awareness

5.2. Preference, By Mode of Purchase

5.3. Demand, By Therapeutic Area

5.4. Sources of Information

6. India Generic Drugs Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Type (Small Molecule Generics v/s Biosimilars)

6.2.2. By Mode of Drug Delivery (Oral, Parenteral, Topical, Others)

6.2.3. By Form (Tablets, Capsules, Injections, Others)

6.2.4. By Source (Contract Manufacturing Organizations v/s In-House Manufacturing)

6.2.5. By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies, Others)

6.2.6. By Application (Cardiovascular Diseases, Diabetes, Oncology, Neurology, Anti-Inflammatory Diseases, Others)

6.2.7. By Region

6.2.7.1. By States (Top 3 States)

6.2.8. By Company (2022)

6.3. Product Market Map

7. India Small Molecule Generic Drugs Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Mode of Drug Delivery

7.2.2. By Form

7.2.3. By Source

7.2.4. By Distribution Channel

7.2.5. By Application

8. India Biosimilar Generic Drugs Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Mode of Drug Delivery

8.2.2. By Form

8.2.3. By Source

8.2.4. By Distribution Channel

8.2.5. By Application

9. Market Dynamics

9.1. Drivers

9.2. Challenges

10. Market Trends & Developments

11. Policy & Regulatory Landscape

12. India Economic Profile

13. Competitive Landscape

13.1. Competition Outlook

13.2. Company Profiles

13.2.1. Sun Pharmaceutical Industries Limited

13.2.2. Torrent Pharmaceuticals Limited

13.2.3. Cipla Limited

13.2.4. Lupin Limited

13.2.5. Piramal Group

13.2.6. Glenmark Pharmaceuticals Limited

13.2.7. Biocon Limited

13.2.8. Dr. Reddy's Laboratories Limited

13.2.9. Aurobindo Pharma Limited

13.2.10. Teva Pharmaceuticals Limited

14. Strategic Recommendations

(Note: The companies list can be customized based on the client requirements.)

Notes: The data given for any year represents the market during the period, i.e., 1st April of the previous year to 31st March of that year. eg: For 2023E, the data represents the period, 1st April 2022 to 31st March 2023.

Figures and Tables

Figure 1: India Generic Drugs Market Size, By Value (USD Billion), 2018-2028F

Figure 2: India Generic Drugs Market Share, By Type, By Value, 2018-2028F

Figure 3: India Generic Drugs Market Share, By Mode of Drug Delivery, By Value, 2018-2028F

Figure 4: India Generic Drugs Market Share, By Form, By Value, 2018-2028F

Figure 5: India Generic Drugs Market Share, By Source, By Value, 2018-2028F

Figure 6: India Generic Drugs Market Share, By Distribution Channel, By Value, 2018-2028F

Figure 7: India Generic Drugs Market Share, By Application, By Value, 2018-2028F

Figure 8: India Generic Drugs Market Share, By Region, By Value, 2018-2028F

Figure 9: South India Generic Drugs Market Share, By State, By Value, 2018-2028F

Figure 10: North India Generic Drugs Market Share, By State, By Value, 2018-2028F

Figure 11: West India Generic Drugs Market Share, By State, By Value, 2018-2028F

Figure 12: East India Generic Drugs Market Share, By State, By Value, 2018-2028F

Figure 13: India Generic Drugs Market Share, By Company, By Value, 2022

Figure 14: India Generic Drugs Market Map, By Type, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 15: India Generic Drugs Market Map, By Mode of Drug Delivery, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 16: India Generic Drugs Market Map, By Form, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 17: India Generic Drugs Market Map, By Source, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 18: India Generic Drugs Market Map, By Distribution Channel, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 19: India Generic Drugs Market Map, By Application, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 20: India Generic Drugs Market Map, By Region, Market Size (USD Billion) & Growth Rate (%), 2021

Figure 21: India Small Molecule Generic Drugs Market Size, By Value (USD Billion), 2018-2028F

Figure 22: India Small Molecule Generic Drugs Market Share, By Mode of Drug Delivery, By Value, 2018-2028F

Figure 23: India Small Molecule Generic Drugs Market Share, By Form, By Value, 2018-2028F

Figure 24: India Small Molecule Generic Drugs Market Share, By Source, By Value, 2018-2028F

Figure 25: India Small Molecule Generic Drugs Market Share, By Distribution Channel, By Value, 2018-2028F

Figure 26: India Small Molecule Generic Drugs Market Share, By Application, By Value, 2018-2028F

Figure 27: India Biosimilar Generic Drugs Market Size, By Value (USD Billion), 2018-2028F

Figure 28: India Biosimilar Generic Drugs Market Share, By Mode of Drug Delivery, By Value, 2018-2028F

Figure 29: India Biosimilar Generic Drugs Market Share, By Form, By Value, 2018-2028F

Figure 30: India Biosimilar Generic Drugs Market Share, By Source, By Value, 2018-2028F

Figure 31: India Biosimilar Generic Drugs Market Share, By Distribution Channel, By Value, 2018-2028F

Figure 32: India Biosimilar Generic Drugs Market Share, By Application, By Value, 2018-2028F

Frequently asked questions

What is the scenario of generic drugs market in India?

The generic drugs market in India was USD 24.53 Billion in 2022 with a CAGR of 6.97% in the forecast period on account of increasing population along with the increasing incidence of diseases and more investment in health expenditure by people with the growing GDP.

What region in India dominates the generic drugs market?

The West region dominated the market in 2022 with an overall share of around 34.20%. This can be ascribed to the growing number of pharmaceutical companies in this region, especially in Gujarat and Maharashtra.

What are the major market trends in terms of India generic drugs market?

Use of alternate packaging component made up of innovative materials, such as cyclic olefin polymer containment and delivery systems, increasing demand for home-based drug administration are the major trends for India generic drugs market.

What are the Technological advancements in the generic drugs?

In the pharmaceutical sector, the use of RPA (robotic process automation) is the application of artificial intelligence (AI) technology to repetitive, rule-based operations. RPA creates software programs that are logs into, enter data, measure and completes the tasks, and then logs out.

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Press Release

India Generic Drugs Market to reach USD36.51 billion by 2028

Jun, 2022

The aging population of the nation and increasing incidences of chronic diseases are driving the growth of India generic drugs market in the forecast period.

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