India's Pharmaceutical Exports Exceed $30 Billion in FY25, US Remains Leading Market
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Synopsis
India's pharmaceutical exports have achieved a remarkable milestone, exceeding $30 billion in FY25, with the United States being the most significant market, accounting for over one-third of the total exports. This growth reflects a consistent upward trend in the sector, supported by various factors including pricing and new product launches.
Key Takeaways
- Pharmaceutical exports exceeded $30 billion in FY25.
- The US remains the top market, with exports at $8,953.37 million.
- Year-on-year growth of 30 percent recorded in March.
- Domestic pharma market projected to grow 8-9 percent in FY26.
- India is the world's largest supplier of generic medicines.
New Delhi, April 19 (NationPress) In a remarkable milestone, India's pharmaceutical exports surpassed $30 billion in the previous financial year (FY25), with the United States continuing to be a principal market, accounting for over one-third of the nation's pharma exports.
As per official trade statistics, the total pharmaceutical exports reached $30,467.32 million in FY25, reflecting a growth of more than 9 percent from $27,851.70 million in FY24.
In March alone, the sector experienced a year-on-year growth of over 30 percent, reaching $3,681.51 million, up from $2,805.71 million during the same month in the previous fiscal year.
Exports to the US saw a 14.29 percent increase, totaling $8,953.37 million in FY25. Other notable markets for India's pharmaceutical exports included the UK, Brazil, France, and South Africa in the last fiscal year.
Additionally, a recent report indicated that the domestic pharmaceuticals market is projected to grow by 8-9 percent year-on-year in FY26. The analysis by India Ratings and Research (Ind-Ra) estimated the growth for FY25 at 7.5-8.0 percent.
This growth trajectory is an improvement from 6.5 percent year-on-year in FY24 and 9.9 percent in FY23, according to Krishnanath Munde, associate director at India Ratings and Research.
In February, the pharma market achieved a 7.5 percent year-on-year revenue increase, propelled by pricing growth (5.2 percent YoY) and new product launches (2.4 percent YoY), despite a slight decline in volume growth of -0.2 percent YoY.
Year-to-date (YTD) growth for the sector in FY25 averaged 7.3 percent, driven by price expansion (5.5 percent), new launches (2.7 percent), and overall volume growth.
The Indian pharmaceutical sector is experiencing rapid production growth, with an 8 percent CAGR, and a 9 percent increase in export rates reported in 2024, according to a study by McKinsey & Company.
India has also positioned itself as the world's leading supplier of generic medicines, boasting a 9 percent growth rate in pharmaceutical exports, nearly double the global average, the report highlighted.
