India Generic Drugs Market
India Generic Drugs Market; By Product Type (Simple Generics, Super Generics, and Biosimilars); By Route of Administration (Oral, Topical, Injectable, and Others); By Application (Cardiovascular Products, Anti-infective Drugs, Central Nervous System Drugs, Anti-cancer Drugs, Respiratory Products, and Others); By Distribution Channel (Hospitals/Clinics, Retail Pharmacies, and Online Pharmacies); Trend Analysis, Competitive Market Share & Forecast, 2018-2028
- Published Date: February 2022
- Report ID: BWC22047
- Available Format: PDF
- Page: 110
Report Overview
India generic drugs market is gaining impetus from rising demand. Major factors driving the growth of India's generic drugs market are the country’s thriving pharmaceutical industry, favorable government initiatives, foreign investment, and increased healthcare expenditure.India generic drugs market is expected to grow at a CAGR of more than 11% during the forecast period, i.e., 2022-2028. The large pharmaceutical industry of India, growing initiatives from the government, increasing foreign investment, and surging healthcare expenditure are some of the factors boosting the growth of India generic drugs market. Additionally, the growing number of health issues and rising health awareness are expected to create several lucrative growth opportunities for India generic drug market during the forecast period.
Generic Drugs: A Brief Overview:
Essentially, generic drugs contain the same active pharmaceutical ingredients (API) as branded drugs, come in the same strength, dosage form, and route of administration. Moreover, such drugs have the same indications, labeling, and dosing, as well as the same efficacy and safety profile. Generic drugs are defined by the FDA (Food Administration Authority) as “Identical or bioequivalent to branded drugs in dosage form, safety, strength, route of administration, quality, and performance characteristics.”
India Generic Drugs Market Forecast and Trend
Growth Drivers
India’s thriving pharmaceutical industry propelling India generic drugs market
The Indian pharmaceutical industry is one of the largest in the world and contains several leading pharmaceutical companies. According to Invest India, an Investment Promotion and Facilitation Agency by the Indian Government, the Indian pharmaceutical industry is ranked 3rd in the world in terms of volume and 14th in terms of value. India also holds the highest number of US-FDA compliant pharmaceutical plants outside of the USA, as well as more than 3,000 pharmaceutical companies with over 10,500 production facilities.
In India, generic brands cover more than 60,000 therapeutic categories and the country's API (Active Pharmaceutical Ingredients) industry is the third largest in the world, with 57% of APIs listed by the WHO. Additionally, the manufacturing cost of medicines in India is 33% lower than in Western markets, further contributing to its large pharmaceutical industry. Furthermore, the government is also promoting the growth of the pharmaceutical industry in the country and all these factors are driving the growth of India generic drugs market.
India Generic Drugs Market: By Product Type
Based on product types, India generic drugs market is categorized into simple generics, super generics, and biosimilars. In 2021, the simple generics segment dominated the market and held the largest share as these drugs are easier to manufacture. Moreover, the majority of the generic drugs available in the market are simple generic, which further supports the dominant share of the segment in India generic drug market. Additionally, super generics require a completely New Drug Application (NDA) in order to gain approval from the Central Drugs Standard Control Organisation (CDSCO), while simple generics do not have to go through such a complex process, further supporting the dominant share of the segment.
India Generic Drugs Market: By Distribution Channel
Based on distribution channels, India generic drugs market is classified into hospitals/clinics, retail pharmacies, and online pharmacies. In 2021, the retail pharmacies segment dominated the market and held the largest share owing to the large retail industry of India. However, during the forecast period, the online pharmacies segment is expected to register the highest growth rate owing to the emergence of various online pharmacies in India, growth of the e-commerce segment, and growing penetration of smartphones and internet in tier-3 and tier-4 cities, along with the rural areas of the country.
Competitive landscape
Some of the dominant players operating in India generic drugs market are Teva Pharmaceutical Industries, Wockhardt Pharmaceutical, and Sandoz - A Novartis division. Other major players in India generic drugs market are Fresenius Kabi, Aurobindo Pharma, Sun Pharma, Dr. Reddy’s Laboratories, Lupin, Cipla, and Viatris.
As a way to gain an advantage over other players, companies operating in India's generic drugs market consistently launch new products, and invest in new pharmaceutical technology to provide cost-effective services. They also work with the government & other organizations, and engage in mergers & acquisitions.
Recent Developments
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In January 2022, Dr. Reddy’s Laboratories announced that it will launch the generic version of Merck’s antiviral COVID-19 pill, molnupiravir, and charge INR 35 (USD 0.4693 or 50 cents) per capsule. The generic drug will be sold under the brand name “Molflu” and will cost INR 1,400 (USD 18.77) for a 5-day course with 40 capsules. Treatment with Merck's pill costs roughly USD 700 in the United States.
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In Janury 2022, Advant International announced that it has agreed to buy controlling stake in Avra Laboratories Pvt. Ltd., as the private equity firm seeks to boost its active pharmaceutical ingredients (API) business in India. The acquisition amount is said to be close to USD 100 million and the acquisition will help Advant boost its presence across the spectrum of generic and patented molecules.
Scope of the Report
Attribute |
Details |
Years Considered |
Historical data – 2018-2021 |
Base Year – 2021 |
|
Forecast – 2022 – 2028 |
|
Facts Covered |
Revenue in USD Million |
Market Coverage |
India |
Product/Service Segmentation |
By Product Type, Route of Administration, Application, and Distribution Channel |
Key Players |
Key players are Teva Pharmaceutical Industries, Wockhardt Pharmaceutical, Sandoz - A Novartis division, Fresenius Kabi, Aurobindo Pharma, Sun Pharma, Dr. Reddy’s Laboratories, Lupin, Cipla, Viatris, and other prominent players |
By Product Type
-
Simple Generics
-
Super Generics
-
Biosimilars
By Route of Administration
-
Oral
-
Topical
-
Injectable
-
Others
By Application
-
Cardiovascular Products
-
Anti-infective Drugs
-
Anti-arthritis Drugs
-
Central Nervous System Drugs
-
Anti-Cancer Drugs
-
Respiratory Products
-
Others
By Distribution Channel
-
Hospitals/Clinics
-
Retail Pharmacies
-
Online Pharmacies
- Research Framework
- Research Objective
- Product Type Overview
- Market Segmentation
- Research Methodology
- Qualitative Research
- Primary and Secondary Sources
- Quantitative Research
- Primary and Secondary Sources
- Breakdown of Primary Research Respondents
- Secondary Research
- Primary Research
- Breakdown of Primary Research Respondents, By Industry Participants
- Key Questionnaire asked during Primary Interviews
- Key Primary Responses
- Market Size Estimation
- Assumption for the Study
- Market Breakdown & Data Triangulation
- Qualitative Research
- Executive Summary
- India Generic Drugs Market – Industry Insights
- Value Chain
- DROC Analysis
- Growth Drivers
- Restraints
- Opportunity
- Challenges
- Recent Developments / Technical Landscape
- Regulatory Framework
- Porter’s Five Forces Analysis
- PESTEL Analysis
- India Generic Drugs Market Overview, 2018-2028
- Market Size & Forecast
- By Value (USD Million)
- Market Share & Forecast
- By Product Type
- Simple Generics
- Super Generics
- Biosimilars
- By Route of Administration
- Oral
- Topical
- Injectable
- Others
- By Application
- Cardiovascular Products
- Anti-infective Drugs
- Anti-arthritis Drugs
- Central Nervous System Drugs
- Anti-Cancer Drugs
- Respiratory Products
- Others
- By Distribution Channel
- Hospitals/Clinics
- Retail Pharmacies
- Other
- By Product Type
- Market Size & Forecast
- Competitive Landscape
-
- List of Key Producers and Their Offerings
- Market Share / Ranking Analysis (2021)
- Competitive Benchmarking, By Operating Parameters
-
- COVID-19 Impact
- Company Profiles (Company Overview, Financial Matrix, Key Product Type landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
- Teva Pharmaceutical Industries
- Wockhardt Pharmaceutical
- Sandoz, A Novartis division
- Fresenius Kabi
- Aurobindo Pharma
- Sun Pharma
- Dr. Reddy
- Lupin
- Cipla
- Viatris
- Other Prominent Players
- Key Strategic Recommendations
* Financial information of non-listed Companies will be provided as per availability
**The segmentation and the companies are subjected to modifications based on in-depth study during the final deliverable.
List of Figures
Fig 1: India Generic Drugs Segmentation
Fig 2: India Generic Drugs Market Value Chain Analysis
Fig 3: India Generic Drugs Market Size, By Value (USD Million), 2018-2028
Fig 4: India Generic Drugs Market Share, By Product Type, By Value, 2018-2028
Fig 5: India Generic Drugs Market Share, By Route of Administration, By Value, 2018-2028
Fig 6: India Generic Drugs Market Share, By Application, By Value, 2018-2028
Fig 7: India Generic Drugs Market Share, By Distribution Channel, By Value, 2018-2028
Fig 8: Company Share Analysis, 2021
List of Tables
Table 1: India Generic Drugs Size, By Product Type, By Value, 2018-2028
Table 2: India Generic Drugs Market Size, By Route of Administration, By Value, 2018-2028
Table 3: India Generic Drugs Market Size, By Application, By Value, 2018-2028
Table 4: India Generic Drugs Market Size, By Distribution Channel, By Value, 2018-2028
Table 5: Teva Pharmaceutical Industries Business Overview
Table 6: Teva Pharmaceutical Industries Financial Analysis
Table 7: Wockhardt Pharmaceutical Business Overview
Table 8: Wockhardt Pharmaceutical Financial Analysis
Table 9: Sandoz, A Novartis division Business Overview
Table 10: Sandoz, A Novartis division Financial Overview
Table 11: Fresenius Kabi Business Overview
Table 12: Fresenius Kabi Financial Overview
Table 13: Aurobindo Pharma Business Overview
Table 14: Aurobindo Pharma Financial Overview
Table 15: Sun Pharma Business Overview
Table 16: Sun Pharma Financial Analysis
Table 17: Dr. Reddy Business Overview
Table 18: Dr. Reddy Financial Analysis
Table 19: Lupin Business Overview
Table 20: Lupin Financial Overview
Table 21: Cipla Business Overview
Table 22: Cipla Financial Overview
Table 23: Viatris Business Overview
Table 24: Viatris Financial Overview
Market Segmentation
By Product Type
- Simple Generics
- Super Generics
- Biosimilars
By Route of Administration
- Oral
- Topical
- Injectable
- Others
By Application
- Cardiovascular Products
- Anti-infective Drugs
- Anti-arthritis Drugs
- Central Nervous System Drugs
- Anti-Cancer Drugs
- Respiratory Products
- Others
By Distribution Channel
- Hospitals/Clinics
- Retail Pharmacies
- Online Pharmacies
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