Market Overview:

The India pharmaceutical market is expected to exhibit a growth rate (CAGR) of 13.01% during 2023-2028.

A pharmaceutical refers to a drug used for treating different forms of illness, such as flu, sexually transmitted diseases (STDs), cardiovascular disease, diabetes, Parkinson’s disease, and cancer. It helps improve lives of individuals and manage symptoms efficiently as compared to traditional methods. At present, there is a rise in the sales of pharmaceuticals across India due to the escalating demand for pain management and acute therapies, such as gastro and respiratory, among individuals.

India Pharmaceutical Market Trends:

The growing demand for pharmaceuticals during the coronavirus disease (COVID-19) pandemic in India to provide adequate medicines to patients represent one of the key factors driving the market. Moreover, the Government of India is extensively investing in research and development (R&D) activities that support rapid drug discovery for improving health outcomes. This, along with the increasing expertise of key market players in specialty pharmaceuticals such as novel biologics and biosimilars, complex generics, and preventive medication, is positively influencing the market. In addition, the rising utilization of intelligent automation in the pharmaceutical industry to diagnose and manage diseases is propelling the growth of the market. Besides this, the development of the single-window system to streamline the drug development process and facilitate fast approvals of commercially viable projects is catalyzing the demand for pharmaceuticals in the country. Additionally, increasing investments in long-term and high-risk projects by various funding avenues in India is offering lucrative growth opportunities to industry investors. Furthermore, inflating income levels and improving medical infrastructure is propelling the sales of pharmaceuticals. Some of the other factors stimulating the growth of the market in the country are lower manufacturing costs, a highly skilled workforce, technological advancements, and enhanced marketing and distribution system.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the India pharmaceutical market report, along with forecasts at the country and regional level from 2023-2028. Our report has categorized the market based on type and nature.

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.

Report Coverage:

Key Questions Answered in This Report:

• How has the India pharmaceutical market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the India pharmaceutical market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the nature?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the India pharmaceutical market and who are the key players?
• What is the degree of competition in the industry?