Report Overview

The Indian Pharmacy market size is valued at USD XX billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2019 to 2028.

The Indian pharmaceuticals market has been rapidly growing because of the demand for new array of drug for chronic diseases, neglected diseases, and digital therapeutics. Indias domestic pharmaceutical has reached Rs 1.4 lakh crore (US$ 20.03 billion) in 2019, up 9.8% from Rs 129,015 crore (US$ 18.12 billion) in 2018. India is the largest provider of generic drugs across the globe. Indian pharmaceutical sector supplies around 50% of global demand for various vaccines, 40% of generic demand in the US and 25% of all medicine in the UK. Indian pharmaceutical sector is growing to US$ 100 billion, while medical device market is expected to grow US$ 25 billion by 2025. India exported pharmaceuticals worth US$ 15.86 billion in FY21. Pharmaceutical exports from India stood at US$ 16.28 billion in FY20 and US$ 2.07 billion in October 2020. Technological companies has been increasing by entering into partnerships with pharmaceutical companies to advance the standard of care. The demand for new breakthrough treatments especially in oncologyare high contributing XX% to growth of pharmacy market in India.



Market Drivers

Low cost of production & R&D boosts efficiency of Indian pharma companies, high economic growth along with increasing penetration of health insurance, increasing private sector investment in R&D and acquisition, various government Initiatives, scientific advancements, highly efficient medicines and other treatment based solutionsetc. are the major Market drivers of Pharmacy Market in India. Due to income growth, health insurance coverage has become affordable. Above that increased acceptance of biologics and preventive medicine, and a greater propensity to self-medicate are major factors for driving the growth of pharmacy in India. Epidemiological factors is 20% increase in the patient pool, new diseases.

Pharmacy Market latest Start-ups and Funding

1. StayHappi


2. Generico


3. Generic Aadhar