India’s pharmaceutical industry is expected to reach $120–130 billion by 2030, nearly doubling its current market size, according to industry estimates shared at the 10th India Pharma & India Medical Device Awards 2026. The sector is projected to grow at a strong 8–9% compound annual growth rate (CAGR) over the coming years, driven by rising healthcare demand, expanding health insurance coverage, increased healthcare spending, and the rapid adoption of digital health technologies. India continues to reinforce its reputation as the “Pharmacy of the World,” remaining the largest supplier of generic medicines globally and serving more than 200 countries and territories.
Industry leaders believe the next phase of growth will be fueled by innovation in biologics, biosimilars, specialty medicines, and advanced manufacturing capabilities. Government initiatives aimed at strengthening…
