Generic Drugs Market - India
Market Statistics
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Size in 2024: USD 28.06 Billion
Market Size in 2033: USD 51.47 Billion
Market Growth Rate (CAGR) 2025-2033: 6.97%
According to IMARC Group's report titled "India Generic Drugs Market Report and Forecast 2025-2033," the market reached USD28.06 billion in 2024. Looking forward, IMARC Group expects the market to reach USD 51.47 billion by 2033, exhibiting a growth rate (CAGR) of 6.97% during 2025-2033.
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India Generic Drugs Market Trends and Drivers:
- Indian generic drugs market is increasing steadily, supported by a mix of affordability, robust manufacturing base, and increasing global and domestic health care demand.
- Essentially, generic drugs are low-cost substitutes to branded medicines and play a significant role in enhancing the reach of healthcare to the vast majority of the country's population, especially rural and backward regions.
- Besides this, India is also known internationally as the "pharmacy of the world" for providing the largest percentage of generic drugs to developed and developing countries alike, because of its openness to international regulatory standards and low-cost manufacturing benefit.
- Further, the rising prevalence of long-term conditions such as diabetes, high blood pressure, and cardiovascular disease has pushed long-term medication consumption to new heights, and that is being met mostly via the channel of generics.
- Further, programs such as Jan Aushadhi Scheme by the government and public procurement programs involving generics are making more accessible and consumed at grass root levels.
- In addition, the rise in healthcare insurance penetration and public health programs is also stimulating consumption for hospitals and primary health networks.
- Additionally, patent expiries of some high-cost medicines in overseas markets are providing new export prospects for Indian firms.
- Besides that, increasing domestic awareness of the safety and effectiveness of generic medicines is gradually transforming the attitude towards consumption and belief in unbranded medicine.
- Along with that, an increase in FDA and WHO-GMP compliant manufacturing units is further cementing India as a world generic drug hub.
- Besides that, an increase in the number of online pharmacies and e-health websites is making it easier for last-mile delivery of generic drugs and competitively priced assured.
- Besides that, frugality among consumers and higher out-of-pocket healthcare spending are inducing even urbanites to shift to generics.
- In addition to this, aggressive encouragement by the government of generics prescription by physicians is aligning policy and physician practice to benefit the market.
- Other than this, more partnerships of Indian pharma companies with global giants for bulk sale and contract manufacturing are also propelling growth.
- Taken together, there is a regulatory support synergy, rising export opportunities, added public healthcare emphasis, and economic necessity for low-cost treatment modalities that holds India generic drugs market out to long-term and inclusive growth through multiple segments of healthcare provision.
India Generic Drugs Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest India generic drugs market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Therapy Area Insights:
- Central Nervous System
- Cardiovascular
- Dermatology
- Genitourinary/Hormonal
- Respiratory
- Rheumatology
- Diabetes
- Oncology
- Others
Drug Delivery Insights:
- Oral
- Injectables
- Dermal/Topical
- Inhalers
Distribution Channel Insights:
- Retail Pharmacies
- Hospital Pharmacies
Regional Insights:
- North India
- South India
- East India
- West India
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Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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