Generics in India

Generics in India

Summary

Generics in India industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

• A generic drug is defined as a copy of an ethical (prescription) drug formerly protected by patents that have now expired. Both unbranded generics and branded generics are included in our market scope. However, off-patent drugs that continue to be offered by the original manufacturer under the original name, and which form part of the 'generic-eligible' market, are not included. Market value is evaluated at ex-factory prices. Market volume refers to the proportion of the total ethical pharmaceutical market in a country or region that is made up of generic drugs. Thus, it is a measure of the market share held by generics, rather than a direct measure of the total market volume. Regional volumes are calculated as averages of countries that comprise the region where volume data exists.
• The Indian generics market recorded revenues of $22.8 billion in 2023, representing a compound annual growth rate (CAGR) of 7.2% between 2018 and 2023.
• Market consumption volume increased with a CAGR of 0.4% between 2018 and 2023, to reach a total of 75.0% of total pharma volume in 2023.
• The growth in India’s generics market is driven by the rising prevalence of chronic diseases such as diabetes, cardiovascular diseases, and cancer, which require long-term treatment. A 2023 study by the Indian Council of Medical Research (ICMR) highlighted that 101 million people in India have diabetes, highlighting the increasing demand for affordable medications.

• Save time carrying out entry-level research by identifying the size, growth, and leading players in the generics market in India
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the generics market in India
• Leading company profiles reveal details of key generics market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the India generics market with five year forecasts by both value and volume

• What was the size of the India generics market by value in 2023?
• What will be the size of the India generics market in 2028?
• What factors are affecting the strength of competition in the India generics market?
• How has the market performed over the last five years?
• Who are the top competitors in India's generics market?