India Pharmaceutical Market By Type (Pharmaceutical Drugs v/s Biologics), By Drug Classification (Branded Drugs v/s Generic Drugs), By Mode of Purchase (Prescription-Based Drugs v/s Over-the-counter Drugs), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Region, Competition, Forecast & Opportunities, 2018-2028F

  • Industry : Healthcare
  • Pages : NA
  • Published Date : NA
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Summary

Report Description

India Pharmaceuticals Market is anticipated to witness impressive growth during the forecast period. This can be ascribed to the growing geriatric population across the region who are susceptible to different chronic diseases along with the growing adoption of e-pharmacies in the developing region. Additionally, increasing demand for new drugs for the treatment of chronic diseases across different parts of the region is expected to create a lucrative growth during the forecast period. Increasing government reimbursement policies with advanced healthcare procedures are further expected to increase the demand for India Pharmaceutical, thereby fuelling the market growth through 2028. Furthermore, various lifestyle changes including not maintaining a healthy life style re further expected to increase the demand for India Pharmaceutical, supporting market growth. The Indian pharma industry is currently valued at USD49 billion and is the third largest in the world. 

The pharmaceutical industry in India has seen tremendous growth over the past few decades, making it one of the largest and fastest-growing pharmaceutical markets in the world. With a population of over 1.3 billion people, India is home to a vast and diverse consumer base, making it an attractive destination for pharmaceutical companies. The Indian pharmaceutical industry has been criticized for its lax regulatory environment, which has led to quality issues in some drugs. The Indian government has introduced new regulations to improve the quality of drugs and ensure regulatory compliance. However, implementation and enforcement of these regulations remain a challenge. The Indian pharmaceutical industry relies heavily on imports for raw materials, which can lead to supply chain disruptions. The lack of investment in infrastructure, including transport and logistics, can also impact the industry's ability to deliver drugs to patients in a timely and efficient manner. The Indian government has implemented price controls on essential medicines to make them more affordable for patients. However, this has led to a decline in profitability for pharmaceutical companies, making it difficult for them to invest in research and development.

The Indian patent system is perceived to be weak, and the lack of strong intellectual property protection has deterred multinational pharmaceutical companies from investing in India. This has limited the opportunities for collaboration and technology transfer, which are crucial for innovation in the pharmaceutical industry. While Indian pharmaceutical companies are known for their expertise in producing generic drugs, the quality of manufacturing remains a concern. Several Indian pharmaceutical companies have been found to violate manufacturing quality standards, which can lead to product recalls and damage to the industry's reputation. The pharmaceutical industry in India is highly competitive, and talent retention is a challenge. Many highly skilled professionals are attracted to opportunities in other countries, leading to a shortage of skilled workers in the industry. The pharmaceutical distribution system in India is fragmented and inefficient, leading to delays in drug delivery and a lack of transparency in the supply chain.

Increasing prevalence of chronic diseases

Increasing cases of non-communicable diseases have also been responsible for the growth of the market during the forecast period and enhanced the demand for novel drugs for the treatment of contagious diseases across different parts of the globe is further expected to create a lucrative growth during the forecast period. . Government initiatives like launching new databases, for example, The National Medicine Database, can also enhance the growth of the market, helping save all the imported and exported data about medicine. Due to the growing prevalence of chronic diseases, demand for personalized medicines has increased which can boost the market growth over the years. Around 46% of all diseases worldwide and 60% of the 56.5 million deaths in 2001 were due to chronic conditions. Major factors like excessive stress, sedentary lifestyle, consuming unhealthy food habits, smoking, and alcoholism are responsible for causing chronic diseases like cancer, cardiovascular diseases, and some genetic disorders thereby enhancing the demand for novel drugs and therapies, which in turn is supporting the growth of the India Pharmacy Retails Market during the forecast period. Major companies such as GSK, Teva Pharmaceuticals, and AstraZeneca are investing in the development of personalized medicines. For instance, in 2021, according to the Indian Brand Equity Foundation, India accounts for 20% of global supply of generic drugs by volume. India has a population of over 1.3 billion people, making it the second most populous country in the world. As the population grows, the demand for healthcare services and medicines also increases, driving the growth of the pharmaceutical industry. The rise in disposable income of the Indian middle class has led to an increase in demand for better quality healthcare and medicines. This has led to an increase in the consumption of branded and premium medicines, driving the growth of the pharmaceutical market. The prevalence of chronic diseases such as diabetes, cancer, and cardiovascular diseases is increasing in India, driving the demand for drugs used in their treatment. This has created opportunities for pharmaceutical companies to develop and market drugs for the treatment of these diseases. The Indian pharmaceutical industry is known for its expertise in producing generic drugs, which are cheaper alternatives to branded drugs. The low cost of production and the availability of skilled labor have made India an attractive destination for multinational pharmaceutical companies to outsource their manufacturing, driving the growth of the industry.

Growing Investment by the Government Organization

Significant developments in healthcare infrastructures can boost the market growth during the forecast period. Similarly, easy availability of licenses for the retail market, increased initiatives, and investments by the government to aid new ventures, and growing sales of pharmaceutical products like over-the-counter drugs, prescription drugs, portable medical equipment, and some related FMCG products are expected to create a significant growth of the India pharmaceutical market during the forecast period. Additionally, the increasing interest of major corporations and individual entrepreneurs in retail pharmacy along with the shift in consumer preferences to turn to modern pharmacy retail outlets for purchasing regular prescription drugs and other wellness products, can further create significant growth during the forecast period. Lately, with the launch of the New Drugs and Clinical Trial Rules in 2019, the clinical trial segment is also rising progressively with many opting India as one of the trial sites for global clinical trials. For instance, in 2021, Cipla Limited announced that it has granted Emergency Use Authorisation (EUA) permission by the Drug Controller General of India (DCGI) for the launch of Molnupiravir in India, the first oral antiviral permitted by the United Kingdom Medicines and Healthcare products Regulatory Agency (MHRA) for the treatment of mild-to-moderate COVID-19 at high risk of developing severe disease. Indian pharmaceutical companies are investing heavily in research and development to develop new drugs and improve existing ones. This has led to the growth of the contract research and manufacturing services (CRAMS) industry in India, providing a range of services to pharmaceutical companies, including drug discovery, development, and manufacturing. The Indian pharmaceutical industry is a major exporter, with around 20% of global exports coming from India. Indian pharmaceutical companies are known for their expertise in producing generic drugs, which are in high demand globally. This has led to the growth of the export market for Indian pharmaceuticals, driving the growth of the industry. The Indian government has introduced several initiatives to promote the growth of the pharmaceutical industry. These include tax benefits, subsidies for research and development, and relaxation of foreign direct investment (FDI) norms. These initiatives have attracted foreign investment and encouraged domestic pharmaceutical companies to invest in research and development.

Recent Development

  • For instance, USD 419.2 million and USD 10.86 billion is funded by Indian government for research and the Ministry of Health and Family Welfare, respectively. Similarly, in 2022, the Indian government announced a complete financial cost of USD 665.5 million for the period FY 2021-22 to FY 2025-26 under the Strengthening of Pharmaceutical Industry (SPI) Scheme.
  • Developed by the Serum Institute of India, Covishield is a COVID-19 vaccine based on the adenovirus vector platform. It was granted emergency use authorization by the Indian government in January 2021 and has been widely used in India's COVID-19 vaccination drive.
  • Developed by AstraZeneca and MSD, Lynparza (olaparib) is a PARP inhibitor used for the treatment of ovarian and breast cancers. It was launched in India in 2019 and has since become a popular treatment option for cancer patients.
  • Developed by Novartis, Odomzo (sonidegib) is a hedgehog pathway inhibitor used for the treatment of basal cell carcinoma. It was launched in India in 2019 and is one of the few drugs approved for the treatment of this type of cancer.
  • Developed by Lupin Limited, Ertapenem is a carbapenem antibiotic used for the treatment of various infections. It was launched in India in 2019 and has since become a popular treatment option for hospital-acquired infections.
  • Developed by AstraZeneca, dapagliflozin is a sodium-glucose cotransporter 2 (SGLT2) inhibitor used for the treatment of type 2 diabetes. It was launched in India in 2019 and has since become a popular treatment option for diabetes patients.
  • Developed by Novartis, Xolair (omalizumab) is a monoclonal antibody used for the treatment of severe allergic asthma and chronic urticaria. It was launched in India in 2020 and is one of the few drugs approved for the treatment of these conditions.


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Market Segmentation

India Pharmaceutical market can be segmented by type, by drug classification, mode of purchase, distribution channel, and region. Based on type, the market can be divided into Pharmaceutical Drugs v/s Biologics. Based on drug classification, the market can be divided into Branded Drugs v/s Generic Drugs. Based on mode of purchase, the market can be divided into Prescription-Based Drugs v/s Over-the-counter Drugs. Based on distribution channel, the market can be segmented into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies.

Market Players

Sun Pharmaceutical Industries Limited, Divis Laboratories Limited, Cipla Limited, Dr. Reddy’s Laboratories Limited, Torrent Pharmaceutical Limited, Zydus Lifesciences Limited, Abbott India Limited, Alkem Laboratories Limited, Biocon Limited, Lupin Limited, Mankind Pharma Limited, Intas Pharmaceuticals Limited, Piramal Enterprises Limited, Wockhardt Limited, Glenmark Pharma Limited are some of the leading players operating in the India Pharmaceuticals Market.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         By Type

·         By Drug Classification

·         By Mode Of Purchase

·         By Distribution Channel

·         By Region

Regional scope

South India; North India; West India; East India

Key companies profiled

Sun Pharmaceutical Industries Limited, Divis Laboratories Limited, Cipla Limited, Dr. Reddy’s Laboratories Limited, Torrent Pharmaceutical Limited, Zydus Lifesciences Limited, Abbott India Limited, Alkem Laboratories Limited, Biocon Limited, Lupin Limited, Mankind Pharma Limited, Intas Pharmaceuticals Limited, Piramal Enterprises Limited, Wockhardt Limited, Glenmark Pharma 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/Word format on special request)


Report Scope:

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

  • India Pharmaceuticals Market, By Type:

o    Pharmaceutical Drugs

o    Biologics

  • India Pharmaceuticals Market, By Drug Classification:

o    Branded Drugs

o    Generic Drugs

  • India Pharmaceuticals Market, By Mode of Purchase:

o    Prescription-Based Drugs

o    Over-the-counter Drugs

  • India Pharmaceuticals Market, By Distribution Channel:

o    Hospital Pharmacies

o    Retail Pharmacies

o    Online Pharmacies

  • India Pharmaceuticals Market, By Region:

o    South India

o    North India

o    West India

o    East India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Pharmaceuticals 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).

India Pharmaceuticals Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.     Markets Covered

1.2.2.     Years Considered for Study

1.2.3.     Key Market Segmentations

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary

3.1.  Overview of the Market

3.2.  Overview of Key Market Segmentations

3.3.  Overview of Key Market Players

3.4.  Overview of Key Regions/Countries

3.5.  Overview of Market Drivers, Challenges, Trends

4.    Voice of Customer

5.    India Pharmaceutical Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value

5.2.  Market Share & Forecast

5.2.1.     By Type (Pharmaceutical Drugs v/s Biologics)

5.2.1.1.         By Pharmaceutical Drugs (Gynecology Drugs, Respiratory Drugs, Dermatology Drugs, Analgesic Drugs, Oncology Drugs, Others)

5.2.1.2.         By Biologics (Monoclonal Antibodies (MAbS, Therapeutic Proteins, Vaccines)

5.2.2.     By Drug Classification (Branded Drugs v/s Generic Drugs)

5.2.3.     By Mode of Purchase (Prescription-Based Drugs v/s Over-the-counter Drugs)

5.2.4.     By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)

5.2.5.     By Region

5.2.5.1.         By State (Top 3 States)

5.2.6.     By Company (2023)

5.3.  Market Map

5.3.1.     By Type

5.3.2.     By Drug Classification

5.3.3.     By Mode of Purchase

5.3.4.     By Distribution Channel

5.3.5.     By Region

6.    South India Pharmaceutical Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Type (Pharmaceutical Drugs v/s Biologics)

6.2.1.1.         By Pharmaceutical Drugs (Gynecology Drugs, Respiratory Drugs, Dermatology Drugs, Analgesic Drugs, Oncology Drugs, Others)

6.2.1.2.         By Biologics (Monoclonal Antibodies (MAbS, Therapeutic Proteins, Vaccines)

6.2.2.     By Drug Classification (Branded Drugs v/s Generic Drugs)

6.2.3.     By Mode of Purchase (Prescription-Based Drugs v/s Over-the-counter Drugs)

6.2.4.     By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)

7.    North India Pharmaceutical Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type (Pharmaceutical Drugs v/s Biologics)

7.2.1.1.         By Pharmaceutical Drugs (Gynecology Drugs, Respiratory Drugs, Dermatology Drugs, Analgesic Drugs, Oncology Drugs, Others)

7.2.1.2.         By Biologics (Monoclonal Antibodies (MAbS, Therapeutic Proteins, Vaccines)

7.2.2.     By Drug Classification (Branded Drugs v/s Generic Drugs)

7.2.3.     By Mode of Purchase (Prescription-Based Drugs v/s Over-the-counter Drugs)

7.2.4.     By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)

8.    West India Pharmaceutical Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Type (Pharmaceutical Drugs v/s Biologics)

8.2.1.1.         By Pharmaceutical Drugs (Gynecology Drugs, Respiratory Drugs, Dermatology Drugs, Analgesic Drugs, Oncology Drugs, Others)

8.2.1.2.         By Biologics (Monoclonal Antibodies (MAbS, Therapeutic Proteins, Vaccines)

8.2.2.     By Drug Classification (Branded Drugs v/s Generic Drugs)

8.2.3.     By Mode of Purchase (Prescription-Based Drugs v/s Over-the-counter Drugs)

8.2.4.     By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)

9.    East India Pharmaceutical Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Type (Pharmaceutical Drugs v/s Biologics)

9.2.1.1.         By Pharmaceutical Drugs (Gynecology Drugs, Respiratory Drugs, Dermatology Drugs, Analgesic Drugs, Oncology Drugs, Others)

9.2.1.2.         By Biologics (Monoclonal Antibodies (MAbS, Therapeutic Proteins, Vaccines)

9.2.2.     By Drug Classification (Branded Drugs v/s Generic Drugs)

9.2.3.     By Mode of Purchase (Prescription-Based Drugs v/s Over-the-counter Drugs)

9.2.4.     By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)

10.  Market Dynamics

10.1.              Drivers

10.2.              Challenges

11.  Market Trends & Developments

12.  Policy & Regulatory Landscape

13.  India Economic Profile

14.  India Pharmaceutical Market: SWOT Analysis

15.  Porter’s Five Forces Analysis

15.1.              Competition in the Industry

15.2.              Potential of New Entrants

15.3.              Power of Suppliers

15.4.              Power of Customers

15.5.              Threat of Substitute Products

16.  Competitive Landscape

16.1.              Business Overview

16.2.              Product Offerings

16.3.              Recent Developments

16.4.              Financials (As Reported)

16.5.              Key Personnel

16.6.              SWOT Analysis

16.6.1.  Sun Pharmaceutical Industries Limited

16.6.2.  Divis Laboratories Limited

16.6.3.  Cipla Limited

16.6.4.  Dr. Reddy’s Laboratories Limited

16.6.5.  Torrent Pharmaceutical Limited

16.6.6.  Zydus Lifesciences Limited

16.6.7.  Abbott India Limited

16.6.8.  Alkem Laboratories Limited

16.6.9.  Biocon Limited

16.6.10.                Lupin Limited

16.6.11.                Mankind Pharma Limited

16.6.12.                Intas Pharmaceuticals Limited

16.6.13.                Piramal Enterprises Limited

16.6.14.                Wockhardt Limited

16.6.15.                Glenmark Pharma Limited

Strategic Recommendations

Figures and Tables

Frequently asked questions

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The growing aging population with infectious prevalence such as rheumatoid arthritis, hypertension, diabetes, and cancer with the increase in the patient pool drove the demand for pharmaceuticals used in the treatment of these diseases are some of the major factors driving the growth of the India Pharmaceuticals market.

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Sun Pharmaceutical Industries Limited, Divis Laboratories Limited, Cipla Limited, Dr. Reddy’s Laboratories Limited, Torrent Pharmaceutical Limited, Zydus Lifesciences Limited, Abbott India Limited, Alkem Laboratories Limited, Biocon Limited, Lupin Limited, Mankind Pharma Limited, Intas Pharmaceuticals Limited, Piramal Enterprises Limited, Wockhardt Limited, Glenmark Pharma Limited are some of the leading players operating in the India Pharmaceuticals Market.

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The Pharmaceuticals Drugs type is expected to dominate the India Pharmaceuticals market during the forecast period.

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South India is expected to hold the largest share of the India Pharmaceuticals Market.

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Sakshi Bajaal

Business Consultant
Press Release

India Pharmaceutical Market to be dominated by Pharmaceutical Drugs type through 2028

Dec, 2022

The increasing prevalence of chronic diseases is expected to drive the growth of India Pharmaceutical in the forecast period, 2024-2028.

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