Indian Pharma Market 2026
The Indian Pharmaceutical Market (IPM) concluded 2025 with a valuation of approximately Rs 2,40,672 crore, reflecting a value growth of 8.1 per cent. According to the Pharmarack Indian Pharma Industry Performance report, IPM is likely to maintain a similar growth range of 7.8–8.1% in 2026. This scenario aligns with current market realities, where value growth remains robust despite fluctuating volume trends. The data indicates that the industry continued to show resilience, with all primary therapy segments maintaining positive value trajectories as of December 2025.
The growth in the market is primarily driven by three levers: price increases, new product launches, and volume adjustments. In the period ending November 2025, the industry recorded a 5.4 per cent growth attributed to pricing and a 2.1 per cent contribution from new products. Although volume growth remained marginal at 0.5 per cent, overall value growth of 8 per cent closely matched forecasted expectations. By December 2025, IPM demonstrated a consolidated value growth of 10.6 per cent and a unit growth of 2.6 per cent, signaling a steady acceleration in consumption patterns across the country.
A notable highlight of 2025 was the rapid expansion of the anti-obesity segment, driven by GLP-1 agonists. This category gained substantial momentum since 2022 following the launch of Rybelsus by Novo Nordisk. The report notes that this is a “predominantly premium category” where the segment delivered “rapid value growth” while “volumes remain measured.” Strategic partnerships formed in late 2025 between global innovators like Novo Nordisk and Eli Lilly with Indian firms Cipla and Emcure are expected to improve penetration and accessibility in the coming months.
Looking ahead, the market expects the entry of branded generics starting in March 2026. Historically, branded generics are launched at around 20–35% of innovator pricing, which typically triggers a 2x–5x surge in unit consumption over the initial 2–3 months. While this shift is expected to accelerate volume growth, the report cautions that “value growth is likely to moderate” as price erosion sets in. Domestic companies such as Dr. Reddy’s Laboratories, Sun Pharma, and Zydus Lifesciences are well-positioned to capitalize on these emerging opportunities in chronic and lifestyle-led therapy segments.
The IPM continues to be categorized into four segments: high-growth lifestyle therapies, demographics-driven treatments for an ageing population, mature acute therapies, and OTC-oriented categories. Leadership positions remain steady at the Moving Annual Total (MAT) level, with Augmentin and Glycomet GP retaining their top rankings. However, recent monthly data show Mounjaro and Foracort moving to the number one and two positions, respectively, in December 2025. Overall, the realistic growth forecast for the total IPM in 2026 stands between 7.8 and 8.1 per cent, supported by strong projections in the urology and anti-diabetic sectors.
(This article has been syndicated from ANI)
Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
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