India's pharma market likely to reach $120-130 bn by 2030: Report
New Delhi, June 11
India's pharmaceutical market is expected to grow to $120-130 billion by 2030 from an estimated $55 billion in 2025, and pharmaceutical exports have crossed $30 billion in FY25, a report said on Thursday.
The report from ASSOCHAM said India supplies around 20 per cent of the world's generic medicines by volume and contributes over half of UNICEF's vaccine procurement requirements, underlining the country's role in global healthcare supply chains.
The next phase of growth will be driven by innovation, advanced therapies, artificial intelligence‑led drug discovery, biosimilars and regulatory excellence, according to ASSOCHAM Secretary General Saurabh Sanyal.
Sanyal said that India has built a strong reputation as a global supplier of affordable medicines and vaccines, due to its strong manufacturing capabilities, scientific talent and policy ecosystem.
He also emphasised the need for higher investment in research and development, stronger industry-academia collaboration, future-ready talent and globally aligned regulatory standards.
The industry chamber expects future growth to be driven by a global patent cliff on biologics, accelerating demand for affordable advanced therapies, advances in artificial intelligence-driven drug discovery, and geopolitical realignment of pharmaceutical supply chains.
The report highlighted that biologics generating over $40 billion in annual revenues are expected to lose exclusivity between 2025 and 2029, creating significant opportunities for biosimilar manufacturers. The global biosimilars market, valued at $39.6 billion in 2025, is projected to reach $151.6 billion by 2033.
India's bioeconomy has exceeded $150 billion and is projected to reach $300 billion by 2030, with biologics and biopharma expected to be key growth drivers.
Government initiatives such as Biopharma SHAKTI, Bio-RIDE and the BioE3 Policy are helping create an integrated ecosystem linking research, manufacturing and commercialisation, the report noted.
The report outlined five strategic priorities for India Pharma 2030 - global regulatory alignment and quality leadership; translational science and innovation financing; biologics and cell and gene therapy manufacturing leadership; pharma talent and research capability development; and domestic access, innovation adoption and Global South leadership.
India's pharmaceutical exports will expand to $75-80 billion by 2030 if these priority areas are focused, the industry body noted.
— IANS
Reader Comments
The focus on AI-driven drug discovery and biosimilars is exactly what we need. But will we also invest in R&D capacity building in smaller cities? We can't just rely on Hyderabad and Bengaluru forever. Need more regional pharma hubs.
As someone who works in global health supply chains, I can confirm India's role is indispensable. The 20% generic medicines share is impressive, but quality compliance remains a concern. Regulatory alignment with global standards is crucial for sustained growth. Hope the next decade sees more consistency.
$55 billion to $130 billion in just 5 years? That's some projection! But I worry - will the benefits reach the aam aadmi? Our healthcare spending is still among the lowest. Also, what about domestic drug prices? Hope this growth doesn't come at the cost of affordability inside India.
Biopharma SHAKTI and Bio-RIDE sound promising! But we need more practical implementation rather than just reports. The patent cliff on biologics is a golden opportunity - we should have learned from the generic boom. Let's not miss this bus! 🚀
The biosimilars market opportunity is massive - $151 billion by 2033! India has the cost advantage, but we need better IP protection and faster regulatory approvals. Also, talent development in biologics is critical. Too many of our best scientists still go abroad for advanced research.
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