Indian pharma market grew 8.1% to touch ₹2.4 lakh cr in 2025: Pharma Trac
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Indian pharmaceutical market (IPM) has registered a growth of 8.1 percent to touch ₹2,40,672 crore in 2025 and is likely to maintain the same growth range (7.8-8.1%) during the current year 2026 too, a performance snapshot prepared by pharma market intelligence firm Pharma Trac says.
The top companies in terms of Indian sales revenues in 2025 were Sun Pharma (₹20,255 crore), Abbott (₹14,277 crore), Cipla (₹13,484 crore), Mankind (₹13,321 crore) and Alkem (₹9,900 crore)
The 2026 growth will be driven by cardiac (11-12% growth), anti-diabetic (10-11%), neuro (9-10%) and respiratory (8-9%) therapy segments, the analysis shows. These segments had registered above average growth in 2025 too with cardiac segment taking the lead with 13% growth. The growth of anti-diabetic segment (9.4%) was driven by the surge in the sale of GLP-1 agonist drugs (127.9%) like Eli Lilly’s Mounjaro and Novo Nordisk’s Ozempic. Neuro grew 9.4% and respiratory therapy segment grew 10% in 2025, Pharma Trac data shows.
Providing the industry performance snapshot and forecasting the 2026 growth in a webinar, Pharma Trac’s Sheetal Sapale said the reason for forecasting a little slower or conservative year-on-year growth for the cardiac segment is the expansion of its base.
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In the case of diabetes category, she said while GLP-1 agonist have shown a 100 percent + growth in 2025, there will be a consolidation going ahead because of the entry of branded generics. “While the volume of the market will increase, the value growth will come down. In fact, we have seen in the last three months, the month on month growth which in the earlier times was around 50-60 percent, has come down to 12-15%. So we are seeing a stabilised consolidation that may happen,” she said.
Pharma Trac segments IPM into four broad categories. The first category is high growth lifestyle and therapies which will drive IPM expansion through rising awareness, innovation, launches and improving access, the second is demography driven therapies catering to an ageing population, delivering stable and predictable demand. The third category is mature, largely acute therapies, and the fourth is OTC, OTX categories benefitting from a shift beyond traditional Rx channels.
The agency’s analysis is primarily based on the organised drug trade data while there are several other channels like institutional component, Jan Aushadhi component, generic-generic components etc that may not get captured.