India Pharmaceutical Market Report 2022-2027: Industry Overview, Top Companies Share, Size, Future Growth, and Forecast
India Pharmaceutical Market
SHERIDAN, WY, UNITED STATES, September 22, 2022 /EINPresswire.com/ — According to the latest report by IMARC Group, titled, “India Pharmaceutical Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the India pharmaceutical market size reached US$ 42.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 88.6 Billion by 2027, exhibiting a growth rate (CAGR) of 13.10% during 2022-2027. Pharmaceutical consists of a wide range of medications widely used to diagnose, prevent, treat, or cure various ailments. Additionally, it is also utilized in restoring, modifying, or correcting organic functions of the body. Some of the pharmaceutical drug classes include antibiotics for inhibiting bacteria and germ growth, analgesics for the treatment of pain, antiseptics for the prevention of bacteria or germ growth around wounds, and mood stabilizers for cognitive benefits. Besides this, it includes various generic and branded medications and various medical devices that are generally discovered, developed and produced to vaccinate, cure, and alleviate symptoms.
The increasing healthcare expenditure majorly drives the market in India. Coupled with continuous improvements in the healthcare infrastructure is one of the primary factors driving the market growth. Along with this, the rising incidences of chronic diseases, such as diabetes, cardiovascular and respiratory diseases, and cancer among the masses, are providing a boost to the market growth. In addition to this, the rising occurrence of comorbidities among the geriatric population is escalating the demand for pharmaceutical drugs. With the sudden outbreak of coronavirus disease (COVID-19), the sales of numerous medicines and nutritional supplements increased rapidly, thereby driving the market across India.
Besides this, the rising preference for generic drug products, such as immunoglobulins, vaccines, monoclonal antibodies, and antibodies, on account of their better outcomes and cost-effectiveness, this is significantly supporting the market growth. Furthermore, continual technological advancements and developments in the field of personalized medicine are creating a positive market outlook. Apart from this, the emergence of various infections encouraging leading pharmaceutical manufacturers to heavily invest in research and development (R&D) to discover new formulations is impacting the market favorably. Some of the other factors driving the market include the escalating strategic partnerships among major biopharmaceutical companies and the rising spending by key players in the development of medical facilities across rural and geographical extended locations across India.
India Pharmaceutical Market 2022-2027 Analysis and Segmentation:
Breakup by Type:
• Pharmaceutical Drugs
o Cardiovascular Drugs
o Dermatology Drugs
o Gastrointestinal Drugs
o Genito-Urinary Drugs
o Hematology Drugs
o Anti-Infective Drugs
o Metabolic Disorder Drugs
o Musculoskeletal Disorder Drugs
o Central Nervous System Drugs
o Oncology Drugs
o Ophthalmology Drugs
o Respiratory Diseases Drugs
o Monoclonal Antibodies (MAbS)
o Therapeutic Proteins
Breakup by Nature:
Breakup by Region:
• North India
• West and Central India
• South India
• East India
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key Highlights of the Report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Other Reports of IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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September 22, 2022, 16:43 GMT
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