Pharma exports from India crosses USD 30 billion in FY25, US top market

Meanwhile, a report said last month that domestic pharmaceuticals market is expected to grow 8-9 per cent year-on-year in FY26. The report by India Ratings and Research (Ind-Ra) said the growth in the sector will be at 7.5-8.0 per cent year on year for FY25.

This is “against 6.5 per cent year-on-year in FY24 and 9.9 per cent YoY growth in FY23,” said Krishnanath Munde, associate director at India Ratings and Research.

In February, the pharma market delivered revenue of 7.5 per cent year on year. This growth was driven by growth in price (5.2 per cent YoY) and new launches (2.4 per cent YoY), while volume growth continued to remain muted at negative 0.2 per cent YoY, the report said.

The sector reported growth at an average of 7.3 per cent year-to-date (YTD) in FY25. This was led by price growth (5.5 per cent), new launches growth (2.7 per cent), and volume growth.

The pharma sector in the country is witnessing rapid production growth. The Indian pharma sector has grown at 8 per cent CAGR and has also seen a 9 per cent increase in export rates in 2024, according to a report by McKinsey & Company.

The country also emerged as the world’s largest supplier of generic medicines, with a 9 per cent pharma export growth rate, nearly double the global average, the report said.