Pharma Market Poised to Double, Reaching $130 Billion by 2030

The pharmaceutical sector, projected to nearly double to about USD 130 billion by 2030, aims to leverage favorable policies, demographics, and digital expertise to position India as a key player in enhancing global health for everyone. 

With technological advancements such as AI, machine learning, and precision medicine transforming drug discovery, manufacturing, and patient care, the Indian pharmaceutical industry is poised for a 'significant change' in 2025, where innovation, broader global access, and enhanced quality are expected to be central themes for the future.

Presently representing approximately 20 percent of worldwide generic drug sales, the Indian pharmaceutical sector is concentrating on research superiority and innovation to establish the nation as a global center for high-quality, cost-effective pharmaceuticals.

"The Indian pharma market is expected to move up to USD 120-130 billion by 2030 from the current size of USD 58 billion. Initiatives in terms of quality, innovation and wider global reach will help the Indian pharma sector to realise the potential," according to Indian Pharmaceutical Alliance (IPA) Secretary General Sudarshan Jain.

With favorable policies and its demographic and digital workforce advantages, India is set to be instrumental in promoting global health for everyone in the future, he remarked. IPA comprises 23 prominent research-oriented Indian pharmaceutical firms such as Sun Pharma, Cipla, and Dr Reddy's Laboratories, among others.