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Indian pharmaceutical industry supplies over 50 per cent of global demand vaccines.

Infographic on the Growth of Pharmaceutical Industry in India

Latest update: July, 2018

  • The Indian pharmaceuticals market witnessed growth at a CAGR of 5.64 per cent, during FY11-16, with the market increasing from US$ 20.95 billion in FY11 to US$ 27.57 billion in FY16. The industry’s revenues are estimated to have grown by 7.4 per cent in FY17.
  • Indian pharmaceutical market grew 5.5 per cent in CY2017 in terms of moving annual turnover. In March 2018, the market grew at 9.5 per cent year-on-year with sales of Rs 10,029 crore (US$ 1.56 billion).
  • By 2020, India is likely to be among the top three pharmaceutical markets by incremental growth and 6th largest market globally in absolute size.
  • Increase in the size of middle class households coupled with the improvement in medical infrastructure and increase in the penetration of health insurance in the country will also influence in the growth of pharmaceuticals sector.
Growth

Notes: F - Forecast, CAGR - Compound Annual Growth Rate, CY – Calendar Year, E - Estimated
Source: Department of Pharmaceuticals, PwC, McKinsey, AIOCD AWACS

  • Indian pharma companies are capitalising on export opportunities in regulated and semi-regulated markets
  • In FY17, India exported pharmaceutical products worth US$ 16.8 billion, with the number expected to reach US$ 40 billion by 2020. During April 2017–February 2018, India exported pharmaceutical products worth Rs. 767.17 billion (US$ 11.90 billion).
  • Indian drugs are exported to more than 200 countries in the world, with the US as the key market
  • India is the world’s largest provider of generic medicines; the country’s generic drugs account for 20 per cent of global generic drug exports (in terms of volumes)
  • Around 40.6 per cent of India’s US$ 16.8 billion pharmaceutical exports in 2016-17 were to the American continent, followed by a 19.7 per cent to Europe, 19.1 per cent to Africa and 18.8 per cent to Asian countries.
Growth

Notes: CAGR - Compound Annual Growth Rate, 1 – Import from April 2015-December 2015.
Source: Department of Commerce India, Department of Pharmaceuticals, India Business News, BMI

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