Indian Pharma Industry Set to Reach US$ 57 Billion by FY25 - News

India’s pharmaceutical industry is estimated to reach US$ 57 billion by FY25, with a growth rate of 7-8 percent in the following fiscal year, as per Care Edge. In FY23 alone, the market increased by 5 percent to US$49.78 billion. Over the last five years, both exports and the domestic market have contributed equally to the sector’s performance, with exports increasing by 8 percent and the domestic market increasing by 6 percent. While challenges such as shipping limits and currency devaluation have impacted the developing-country export industry, improving access to healthcare in these countries may drive long-term growth.
The US continues to be an attractive market for India, accounting for 30-35 percent of total formulation exports. Despite recent price increases, India has seen an increase in US export sales volume and is likely to profit from forthcoming patent expirations. Furthermore, the industry’s emphasis on specialty and niche items may help growth in the United States. 
Operating margins are expected to improve as raw material prices, freight rates, and pricing pressure in the US generics market stabilize. An aging population, increased chronic diseases, healthcare knowledge, insurance coverage, government investment, and worldwide demographic changes will all contribute to the industry’s long-term growth.