India’s pharmaceutical market set to hit $100bn by 2025

India’s pharmaceutical market value is expected to grow to US $100bn by 2025, driven in part by increased buying power of the country’s middle class, and rapid urbanisation. There is growing demand domestically for health services and treatments for chronic disease.

The industry boasts an impressive track record over the past several years. With revenue of $30bn in 2016 and an annual growth rate of more than 15%, the country’s pharmaceutical sector ranks 3rd internationally for volume, and 13th for value. As the largest provider of generic medicines globally, India maintains a lead over China for pharmaceutical exports, and accounts for one-third of Food and Drug Administration (FDA) approvals each year.

Regulatory changes in the industry over recent years – supported by the Government of India’s ‘Pharma Vision 2020’ strategy – are expected to resolve many of the constraints currently faced by the country’s pharmaceutical companies, and position India as a world leader in end-to-end drug manufacture.