By: IPP Bureau
Last updated : June 12, 2026 7:01 am
Knowledge paper highlights biosimilars, biologics, AI-driven drug discovery and regulatory excellence as key growth drivers for the next phase of India's pharma expansion
India’s pharmaceutical market is projected to grow to US$ 120–130 billion by 2030 from an estimated US$ 55 billion in 2025, while pharmaceutical exports could rise significantly from the current level of over US$ 30 billion, according to a new knowledge paper titled Outlook on the Indian Pharmaceutical Sector released by ASSOCHAM.
The report underscores India's growing influence in global healthcare supply chains, noting that the country supplies approximately 20 per cent of the world's generic medicines by volume and contributes more than 50 per cent of UNICEF's vaccine procurement requirements.
In the foreword to the report, Saurabh Sanyal, Secretary General of ASSOCHAM, said India has established itself as a trusted global supplier of affordable medicines and vaccines, supported by robust manufacturing capabilities, scientific talent, and a supportive policy environment.
He noted that the industry's next growth phase will be driven by innovation, advanced therapies, artificial intelligence-led drug discovery, biosimilars, and regulatory excellence. He also emphasized the importance of increased investment in research and development, stronger industry-academia collaboration, future-ready talent, and globally aligned regulatory standards.
According to the report, several structural factors are creating significant growth opportunities for the sector. These include a global patent cliff for biologic medicines, rising demand for affordable advanced therapies, rapid advances in AI-powered drug discovery, and the geopolitical realignment of pharmaceutical supply chains.
The knowledge paper highlighted that biologic drugs generating more than US$ 40 billion in annual revenue are expected to lose market exclusivity between 2025 and 2029. This development is expected to create substantial opportunities for biosimilar manufacturers. The global biosimilars market, estimated at US$ 39.6 billion in 2025, is projected to expand to US$ 151.6 billion by 2033.
The report also pointed to India's expanding bioeconomy, which has already crossed US$ 150 billion and is expected to reach US$ 300 billion by 2030. Biologics and biopharmaceuticals are expected to be among the most significant contributors to this growth. Government initiatives such as Biopharma SHAKTI, Bio-RIDE, and the BioE3 Policyare helping build an integrated ecosystem that connects research, manufacturing, and commercialization.
ASSOCHAM identified innovation, advanced therapies, biologics, AI-led drug discovery, regulatory excellence, and research-driven development as the critical pillars shaping the future of the Indian pharmaceutical industry. The report also stressed the need for stronger R&D investments, enhanced collaboration between academia and industry, development of specialized talent, and globally harmonized regulatory frameworks.
To achieve its long-term ambitions, the report outlined five strategic priorities for "India Pharma 2030": global regulatory alignment and quality leadership; translational science and innovation financing; leadership in biologics and cell and gene therapy manufacturing; pharma talent and research capability development; and domestic access, innovation adoption, and Global South leadership.
According to the report, consistent execution of these priorities could help India increase pharmaceutical exports to approximately US$ 75–80 billion by 2030, strengthen its position as a preferred destination for pharmaceutical innovation and biologics manufacturing, and emerge as a global leader in biosimilars and affordable advanced therapies.