70% of Global Pharma Companies to Witness Over 10% Growth in India by 2028

In the upcoming five years, almost 70 percent of international pharmaceutical companies are predicted to experience yearly growth of over 10 percent in India. International pharmaceutical corporations have been essential in the change by bringing in advanced technologies, creating patient-focused initiatives, and putting resources into local production and research and development capabilities.

According to a report by the Organisation of Pharmaceutical Producers of India (OPPI) and the Boston Consulting Group (BCG), the Indian healthcare industry is experiencing rapid growth, with the pharmaceutical market set to reach USD120 billion by 2030, doubling from its current value of USD60 billion.

The conference gathered industry executives, creators, researchers, and government officials to talk about India's growing influence in the worldwide healthcare sector. India is not only solidifying its status as a hub for global innovation but is also standing out as an economic success in the midst of global uncertainties.

Priyanka Aggarwal, Managing Director and Senior Partner at BCG, remarked, "The Indian Pharma Market is poised to double by 2030, presenting significant opportunities for global pharmaceutical companies." 

The report highlights the importance of a customized approach specifically for India to achieve success in this distinctive market. Obstacles like inconsistent payer coverage, intricate pricing structures, and diverse healthcare systems force companies to modify their offerings and operations.

Anirudh Tara, Managing Director & Partner at BCG, said, "Winning in India's healthcare market requires a deep understanding of local dynamics, from tailored pricing and patient access programs to strategic partnerships and empowering healthcare providers."