India Generic Drugs Market, By Type (Small Molecule Generics v/s Biosimilars), By Mode of Drug Delivery (Oral, Parenteral, Topical, Others), By Form (Tablets, Capsules, Injections, Others), By Source (Contract Manufacturing Organizations v/s In-house), By Distribution Channel (Retail Pharmacies, Hospital Pharmacies, Online Pharmacies, Others), By Application (Neurology, Oncology, Cardiovascular Diseases, Diabetes, Anti-Inflammatory Diseases, Others), By Region, Competition, Forecast & Opportunities, 2018-2028F
India generic drugs market stood at USD 24.53 Billion in 2022 and is expected to grow at a steady CAGR of 6.97% during the forecast period.
The growing prevalence of chronic diseases such as diabetes, cardiovascular disease, etc., and sedentary lifestyle propel market growth. The expanding geriatric population is contributing to the market growth as the comorbidities are more in the old population, thereby needing proper medications with the easiest route for drug administration. In developing countries like India, government bodies and other regulatory bodies have encouraged manufacturers to launch effective generic drugs supporting market growth. The introduction of 3-D printing technology helps in manufacturing generic drugs with varying release dates and tastes and is expected to propel market growth.
The short expiration and gap between re-filing of the new drug encourages various companies to produce generic drugs owing to rise in competition which further reduces the generic medication prices. Enhancing accessibility to healthcare services and growing healthcare awareness among the public drive market growth. Several initiatives are undertaken by government bodies towards awareness of the availability of generics like Pradhan Mantri Bhartiya and Jan Aushadi Yojana have become the highlight, offering quality medicines at affordable prices to the people. This scheme is currently running in each state of India with its high popularity among the people with average to low-income categories providing the public access to medications.
The India generic drugs market is segmented based on type, mode of drug delivery, form, source, distribution channel, application, and region. Based on type, the market can be split into small molecule generics and biosimilars. Small molecule generic drugs held the largest market share of 70.01% in 2022. This is due to the low cost of generic drugs compared to branded drugs and affordability to the large segment of patients from middle to low-income families.
The significant market players operating in the India generic drugs market include Sun Pharmaceutical Industries Limited, Torrent Pharmaceuticals Limited., Cipla Limited, Lupin Limited, Piramal Group, Glenmark Pharmaceuticals Limited, Biocon Limited, Dr. Reddy’s Laboratories Limited, Aurobindo Pharma Limited.
Years considered for this report:
Historical Years: 2018-2021
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024–2028
Objective of the Study:
- To analyze the historical growth of the market size of India generic drugs market from 2018 to 2021.
- To estimate and forecast the market size of India generic drugs market from 2023 to 2028 and growth rate until 2028.
- To classify and forecast India generic drugs market based on type, mode of drug delivery, form, source, distribution channel, application, regional distribution, and competitive landscape.
- To identify dominant region or segment in the India generic drugs market.
- To identify drivers and challenges for India generic drugs market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in India generic drugs market.
- To identify and analyze the profile of leading players operating in India generic drugs market.
- To identify key sustainable strategies adopted by market players in India generic drugs market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of generic drugs manufacturing companies across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the vendors which could not be identified due to the limitations of secondary research.
TechSci Research calculated the India generic drugs market size using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
- Generic drugs manufacturing companies/partners
- Government bodies such as regulating authorities and policy makers
- Organizations, industry associations, forums and alliances related to generic drugs
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as generic drugs manufacturing companies, end users etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, India generic drugs market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- India Generic Drugs Market, By Type:
- Small Molecule Generics
- India Generic Drugs Market, By Mode of Drug Delivery:
- India Generic Drugs Market, By Form:
- India Generic Drugs Market, By Source:
- Contract Manufacturing Organizations
- In- House
- India Generic Drugs Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- India Generic Drugs Market, By Application:
- Cardiovascular Diseases
- India Generic Drugs Market, By Region:
Company Profiles: Detailed analysis of the major companies present in India generic drugs market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
- Detailed analysis and profiling of additional market players (up to five).
1.Sun Pharmaceutical Industries Limited
2.Torrent Pharmaceuticals Limited
6.Glenmark Pharmaceuticals Limited
8.Dr. Reddy's Laboratories Limited
9.Aurobindo Pharma Limited
10.Teva Pharmaceuticals LimitedPlease Note:
Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without