The Indian generic drugs market is growing at good pace, owing to number of factors like increasing healthcare needs, expiry of patents of the branded drugs and government policies towards the same. Among the world’s largest generic drug suppliers, India exports over 20 percent of its generic drugs. By 2030, the Indian pharmaceutical industry will reach USD 130 billion and generic drugs will make a major contribution to this growth. Expanding opportunities for Indian manufacturers to produce cost effective alternatives is one of the key drivers, as several blockbuster drugs are due to expire their patents. This has led to rapid growth of Indian companies in production capacities and heavy investments on R&D to improve product quality and meet international standard. For markets like Asia, Africa and Latin America, affordability of Indian generics is highly prized on account of which they prove to be especially popular.

Furthermore, the growth of domestic demand for generic drugs has been driven by the Indian government's drive to provide affordable healthcare, through the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP). The program is attempting to make quality medicines available at affordable prices and increasing access for the population that has lower incomes. However, the industry is beset by challenges including rising competition from emerging markets, regulatory pressure and a requirement to constantly innovate to stay competitive. Notwithstanding, the generic drug market in India continues to look bright, as the population grows, more people develop chronic diseases and spend more on healthcare. The growth trajectory of the sector will accelerate overall, which would further cement India's place among global hubs for generic pharmaceuticals.

Keeping tabs on this market, India Pharma Outlook has shortlisted the select few companies that have exhibited an unrelenting pursuit of excellence. By proving their dedication to fulfilling customer expectations and contributing to the market’s evolution through their innovative disposition, these firms are blazing a trail.

We look forward to receiving your feedback and suggestions.