The Indian pharmaceuticals industry is the third largest in terms of volume and thirteenth largest in terms of value. India is the largest provider of generic drugs globally with the Indian generics accounting for 20 per cent of global exports in terms of volume.
The Indian pharma industry, which is expected to grow over 15 per cent per annum between 2015 and 2020, will outperform the global pharma industry, which is set to grow at an annual rate of 5 per cent between the same period. Presently the market size of the pharmaceutical industry in India stands at US$ 20 billion.
Biopharma, comprising vaccines, therapeutics and diagnostics, is the largest sub-sector of the Indian pharmaceutical industry contributing nearly 62 per cent of the total revenues at Rs 12,600 crore (US$ 1.9 billion).
The drugs and pharmaceuticals sector attracted cumulative FDI inflows worth US$ 13.45 billion between April 2000 and December 2015, according to data released by the Department of Industrial Policy and Promotion (DIPP). The Indian pharmaceutical market size is expected to grow to US$ 100 billion by 2025.