The Indian pharmaceutical industry is at the forefront of global medical research and product development, continuously pushing the boundaries of innovation. As the largest provider of generic medicines worldwide, India accounts for 20% of global generic drug exports by volume. The country is poised to become the third-largest pharmaceutical market in terms of incremental growth by 2020.

Between 2005 and 2016, India’s pharmaceutical market grew at a CAGR of 17.46%, expanding from US$ 6 billion in 2005 to US$ 36.7 billion in 2016. The market is projected to reach US$ 45 billion by 2020, with a base-case scenario estimating US$ 55 billion, and an aggressive growth trajectory potentially driving it to US$ 70 billion.