India's pharmaceutical market is projected to more than double — from an estimated $55 billion in 2025 to $120–130 billion by 2030 — according to a report released by industry body ASSOCHAM on Thursday, 11 June 2025. Pharmaceutical exports have already crossed $30 billion in FY25, signalling the sector's accelerating global footprint.

India's Standing in Global Healthcare Supply Chains

The ASSOCHAM report underscores India's outsized role in global medicine supply: the country accounts for roughly 20 per cent of the world's generic medicines by volume and fulfils over half of UNICEF's vaccine procurement requirements. These figures reflect decades of investment in manufacturing scale, scientific talent, and a policy ecosystem that has made India a default partner for affordable healthcare worldwide.

What Will Drive the Next Phase of Growth

ASSOCHAM Secretary General Saurabh Sanyal said India has built a strong reputation as a global supplier of affordable medicines and vaccines, and that the next growth phase will be led by innovation, biosimilars, artificial intelligence-driven drug discovery, and regulatory excellence. Sanyal also stressed the need for higher investment in research and development, stronger industry-academia collaboration, and globally aligned regulatory standards.

The industry chamber identifies four structural tailwinds: a global patent cliff on biologics, accelerating demand for affordable advanced therapies, AI-led drug discovery, and geopolitical realignment of pharmaceutical supply chains. Notably, biologics generating over $40 billion in annual revenues are expected to lose exclusivity between 2025 and 2029, opening significant opportunities for biosimilar manufacturers.

The Biosimilars and Bioeconomy Opportunity

The global biosimilars market, valued at $39.6 billion in 2025, is projected to reach $151.6 billion by 2033, according to the report. India's broader bioeconomy has already exceeded $150 billion and is on track to reach $300 billion by 2030, with biologics and biopharma identified as key growth engines.

Government programmes — including Biopharma SHAKTI, Bio-RIDE, and the BioE3 Policy — are helping build an integrated ecosystem that links research, manufacturing, and commercialisation, the report noted.

Five Strategic Priorities for India Pharma 2030

The report lays out five priorities for the sector: global regulatory alignment and quality leadership; translational science and innovation financing; biologics and cell and gene therapy manufacturing leadership; pharma talent and research capability development; and domestic access, innovation adoption, and Global South leadership.

If these priorities are executed, India's pharmaceutical exports could expand to $75–80 billion by 2030, the industry body projected — nearly tripling the current export base in five years.

What Comes Next

The roadmap places India at a strategic inflection point: a proven low-cost manufacturer now being asked to become a high-value innovator. Whether the policy ecosystem, R&D investment, and talent pipeline can keep pace with that ambition will determine how much of the $120–130 billion target is captured domestically versus ceded to competitors.