India Pharmaceutical Market Size & Outlook, 2024-2030
India pharmaceutical market, 2018-2030 (US$M)
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India pharmaceutical market highlights
- The India pharmaceutical market generated a revenue of USD 39,824.0 million in 2024 and is expected to reach USD 63,747.4 million by 2030.
- The India market is expected to grow at a CAGR of 8.1% from 2025 to 2030.
- In terms of segment, conventional drugs (small molecules) was the largest revenue generating molecule in 2024.
- Biologics & Biosimilars (Large Molecules) is the most lucrative molecule segment registering the fastest growth during the forecast period.
Pharmaceutical market data book summary
| Market revenue in 2024 | USD 39,824.0 million |
| Market revenue in 2030 | USD 63,747.4 million |
| Growth rate | 8.1% (CAGR from 2025 to 2030) |
| Largest segment | Conventional drugs (small molecules) |
| Fastest growing segment | Biologics & Biosimilars (Large Molecules) |
| Historical data | 2018 - 2023 |
| Base year | 2024 |
| Forecast period | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Biologics & Biosimilars (Large Molecules), Conventional Drugs (Small Molecules) |
| Key market players worldwide | Merck & Co Inc, Roche Holding AG, Novartis AG ADR, AbbVie Inc, Johnson & Johnson, Pfizer Inc, Bristol-Myers Squibb Co, Sanofi SA, GSK PLC, Takeda Pharmaceutical Co Ltd |
Other key industry trends
- In terms of revenue, India accounted for 2.4% of the global pharmaceutical market in 2024.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China pharmaceutical market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 63,747.4 million by 2030.
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Pharmaceutical Market Scope
Pharmaceutical Market Companies
| Name | Profile | # Employees | HQ | Website |
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India pharmaceutical market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to pharmaceutical market will help companies and investors design strategic landscapes.
Conventional drugs (small molecules) was the largest segment with a revenue share of 58.7% in 2024. Horizon Databook has segmented the India pharmaceutical market based on biologics & biosimilars (large molecules), conventional drugs (small molecules) covering the revenue growth of each sub-segment from 2018 to 2030.
India's pharmaceutical industry has solidified its position as the "Pharmacy of the World," playing a crucial role in supplying vaccines, essential medicines, and medical supplies globally, particularly during the COVID-19 pandemic.
The sector has demonstrated strong innovation capabilities and remains an integral part of the global pharmaceutical value chain. India’s pharmaceutical exports have seen consistent growth, increasing by 8.36% from USD 2.13 billion in July 2023 to USD 2.31 billion in July 2024. Over the past decade, exports have surged from USD 15.07 billion in 2013-14 to USD 27.85 billion in FY 2023-24.
Ranking third globally in pharmaceutical production by volume, India exports to nearly 200 countries, with the U.S., Belgium, South Africa, the U.K., and Brazil as top destinations. With a projected 10-12% growth rate, the sector is expected to reach USD 100 billion by 2025, driven by a strong domestic manufacturing base and a growing demand for affordable medicines worldwide.
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Our clientele includes a mix of pharmaceutical market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the India pharmaceutical market , including forecasts for subscribers. This country databook contains high-level insights into India pharmaceutical market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India pharmaceutical market size, by molecule, 2018-2030 (US$M)
India Pharmaceutical Market Outlook Share, 2024 & 2030 (US$M)
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