Pharma market
Report says Indian pharma market to reach $120 bln-$130 bln by 2030
This story was originally published at 16:15 IST on 15 June 2026
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By Gunjan Rajput
NEW DELHI – India's pharmaceutical market is projected to grow to $120 billion-$130 billion by 2030 from an estimated $55 billion in 2025, driven by opportunities in biosimilars, biologics, advanced therapies, and artificial intelligence-led drug discovery, according to a report by the Associated Chambers of Commerce and Industry of India.
India currently supplies around 20% of global generic medicines by volume and meets 55-60% of the United Nations Children's Fund's vaccine requirements, with pharmaceutical exports of $30.5 billion in 2024-25 (Apr-Mar), the report said.
The Indian pharmaceutical industry stands at an "inflection point" as a wave of patent expiries on biologic medicines, rising demand for affordable advanced therapies, and a global supply-chain realignment create opportunities for domestic drugmakers. The report said biologics generating more than $40 billion in annual revenue are expected to lose market exclusivity between 2025 and 2029, opening a sizeable opportunity for biosimilar manufacturers. The global biosimilars market is projected to grow to more than $150 billion by 2033, according to the report.
India's bioeconomy has already surpassed $150 billion and is targeted to reach $300 billion by 2030, supported by government initiatives such as the BioE3 Policy, Bio-RIDE programme, and Biopharma SHAKTI scheme, the report said.
However, the report warned that India's ability to capitalise on these opportunities would depend on addressing several structural weaknesses within the pharmaceutical ecosystem. The report identified five areas that would determine whether the country achieves its growth ambitions – scientific communication, cross-sector collaboration, talent orientation, innovation financing, and domestic patient access.
According to the report, greater investment in research and development remains critical as the industry attempts to move beyond its traditional strength in generic drugs. "Industry R&D (research and development) investments typically range between 6–8% of revenues, reflecting growing emphasis on innovation," according to the report.
The report identified talent readiness as another challenge, arguing that India does not face a shortage of science graduates but lacks sufficient professionals trained in drug discovery, clinical research, regulatory science, and computational biology. It also highlighted the need for stronger collaboration among industry, academia, and government institutions to accelerate translational research, innovation, and commercialisation. It added that Indian scientific research often lacks adequate international visibility despite the quality of work being produced domestically.
Patient access was identified as another critical area. The report argued that India's large and diverse patient population represents both a healthcare responsibility and a strategic research asset, making wider access to innovative therapies essential for the sector's long-term development.
The report said opportunities are also emerging in advanced therapies, including cell and gene therapies, where treatment costs in developed markets can range between $400,000 and $500,000 per patient. India has the potential to reduce such costs significantly through local manufacturing and innovation, it said.
On artificial intelligence, the report noted that more than 75 AI-assisted drug candidates have entered clinical trials globally, with several reaching Phase II studies. However, it cautioned that no AI-discovered drug has yet received full regulatory approval.
The report outlined three possible scenarios for India's pharmaceutical sector by 2030 - 'Breakthrough India', 'Incremental India' and 'Missed Window India' - depending on how effectively the industry and policymakers address existing challenges.
Under the potential outcomes, pharmaceutical exports could approach $75-$80 billion by 2030, supported by higher research spending, leadership in biosimilars and affordable advanced therapies, stronger patient access, and greater integration of artificial intelligence and digital technologies into pharmaceutical research and development.
"The $130-billion projection is asking whether this generation has the same clarity of purpose that built the foundation," the report said, adding that the next phase of growth would depend on execution across innovation, talent development, funding and patient access. End
Edited by Saji George Titus
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