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, Re

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

The 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 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 market growth through 2028. Furthermore, various lifestyle changes, including not maintaining a healthy lifestyle, 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.

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, the demand for personalized medicines has increased, which can boost 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 the global supply of generic drugs by volume.

Growing Investment by the Government Organization

Significant developments in healthcare infrastructures can boost 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 for India as one of the trial sites for global clinical trials. For instance, in 2021, Cipla Limited announced that it had 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.

Market Segmentation

The India Pharmaceutical market can be segmented by type, 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 the mode of purchase, the market can be divided into Prescription-Based Drugs v/s Over-the-counter Drugs. Based on distribution channels, 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.

Recent Development

For instance, USD 419.2 million and USD 10.86 billion are funded by the 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.

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:
• Pharmaceutical Drugs
• Biologics
• India Pharmaceuticals Market, By Drug Classification:
• Branded Drugs
• Generic Drugs
• India Pharmaceuticals Market, By Mode of Purchase:
• Prescription-Based Drugs
• Over-the-counter Drugs
• India Pharmaceuticals Market, By Distribution Channel:
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• India Pharmaceuticals Market, By Region:
• South India
• North India
• West India
• East India

Competitive Landscape

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

Company Information

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

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