India Generic Drugs Market By Type (Small Molecule Generics v/s Biosimilars), By Mode of Drug Delivery (Oral, Parenteral, Topical, Others), By Form (Tablets, Capsules, Injections, Others), By Source (Contract Manufacturing Organizations v/s In-house), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies, Others), By Application (Neurology, Oncology, Cardiovascular Diseases, Diabetes, Anti-Inflammatory Diseases, Others), By Region, Competition, Forecast & Opportunities, 2018-2028F

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.

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).