Pharma Sector To Surpass $130 bn mark by 2030

Hyderabad, known as India's pharma hub, is home to 214 USFDA-approved facilities, and as the pharma market grows due to complex molecules, companies will be forced to invest in and build future state-of-the-art labs, according to a Dr Reddy's Laboratories Limited official. Avinash Kumar Talwar, Vice President, Dr Reddy's Laboratories, stated during the ninth edition of B2B pharma expoPharmaLytica 2023 here that the Indian pharmaceutical business is valued at over $50 billion and is predicted to grow at a CAGR of 10.7 percent till 2030.

India's pharmaceutical sector is predicted to be worth $65 billion by 2024 and $130 billion by 2030. "We should be proud that there are 214 US FDA approved facilities in Hyderabad, which is impressive, and that is another reason why Hyderabad is known as India's Pharma hub," he added. Because complicated compounds are driving the expansion of the pharmaceutical sector, they will be forced to invest in and build future state-of-the-art labs." He also stated that the demand for sophisticated technology and tools to aid in the drug discovery, development, analysis, and modelling of molecules will continue to rise at the same rate. He noted that there are numerous tiny laboratories in Hyderabad and other South Indian cities such as Chennai and Bengaluru.