These drugs might become growth engine for Indian pharma industry
What's the story
The Indian pharmaceutical industry is poised for growth, driven by improved access to innovative medicines for obesity and diabetes. Kirti Ganorkar, the Managing Director of Sun Pharma, emphasized this potential in a recent statement. He said that making GLP-1 receptor agonists more accessible will be crucial in tackling the rising burden of lifestyle diseases like obesity and diabetes in India.
Market transformation
India emerging as global weight management hub
India, a country known for its generic drug industry, is quickly becoming a major player in the global weight management market. This shift comes amid an alarming rise in obesity-related diseases. Ganorkar highlighted that the combination of AI-enabled digital tools for early disease detection and monitoring with personalized medicine options will further drive innovation in this space.
Innovation focus
Dr. Reddy's statement on India's pharma innovation
Satish Reddy, the Chairman of Dr. Reddy's Laboratories, also weighed in on India's pharmaceutical sector. He said that making risk capital more accessible can help India transition from being the world's pharmacy to its hub of pharmaceutical innovation. As the country approaches 2026, he sees a positive outlook for the industry with innovation driving growth and scientific excellence at its core.
Sector contribution
Pharma sector's role in 'Viksit Bharat' vision
Reddy stressed the pharmaceutical sector's vital role in realizing India's 'Viksit Bharat' vision. He said the industry aims to become a $500 billion market by 2047. Despite external pressures, the sector has continued to push healthcare boundaries and provide life-saving medicines worldwide. Reddy also highlighted initiatives like the Research, Development, and Innovation (RDI) scheme as steps toward strengthening the industry-academia partnerships for robust R&D and novel drug delivery systems.
Revenue forecast
ICRA predicts revenue growth for Indian pharma companies
Rating agency ICRA has projected a revenue growth of 9-11% for its sample set of Indian pharmaceutical firms in FY2026. This growth is expected to be driven by an 8-10% increase in the domestic market and a 15-17% surge in European markets. However, pricing pressure on certain key drugs such as Lenalidomide could moderate US market growth to 4-6%.