According to the latest report by IMARC Group, titled,“India Pharmaceutical Market Research Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the India pharmaceutical market size reached US$ 42.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 88.6 Billion by 2027, exhibiting a growth rate (CAGR) of 13.10% during 2022-2027. Pharmaceutical comprise a wide range of medications utilized to prevent, diagnose, treat or cure various diseases. Pharmaceutical manufacturers generally discover, develop, produce and market generic or branded medications and medical devices that are used to cure, vaccinate, and alleviate symptoms. Its production is subject to various laws and regulations associated with testing, safety, patenting and efficacy using drug testing and marketing. The demand for pharmaceuticals is escalating across the country due to the continual improvements in the e-commerce sector and the advent of online delivery models.
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COVID-19 Outbreak:
The coronavirus disease (COVID-19) outbreak and the following global implementation of mandatory lockdown restrictions had a significant impact on the India pharmaceutical market. There has been an increasing demand for medications and vaccinations across the country associated with the disease. However, in order to prevent the spread of the virus among the masses, numerous manufacturing units were shut down, including pharmaceutical industries. Additionally, the disruptions in the supply chain adversely affected the supply of raw materials and delays in projects and programs also negatively impacted the market.
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India Pharmaceutical Market Trends:
The rising healthcare expenditure majorly drives the pharmaceuticals market in India. This is supported by the growing prevalence of chronic diseases, such as cancer and cardiovascular and respiratory diseases among individuals. Coupled with the growing geriatric population, which is more prone to ailments, is propelling the demand for pharmaceuticals across the country. In addition to this, the escalating sales of various medicines and nutritional supplements as a result of the coronavirus disease (COVID-19) outbreak is significantly supporting the market across India. Moreover, the accelerating demand for generic drugs since it is available in a lesser cost is impacting the market growth favorably. Additionally, continual technological advancements and developments in the field of personalized medicines is creating positive market growth. Other factors driving the market further include the rising investments by private and public firms in continual improvements of the healthcare infrastructure, increasing mergers and acquisitions among leading pharmaceutical manufacturers, favorable regulations implemented by the government and extensive research and development (R&D) activities conducted by key players.
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India Pharmaceutical Market 2022-2027 Analysis and Segmentation:
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.
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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