India pharmaceutical market sees strongest growth in three years

India’s pharmaceutical market experienced its strongest monthly growth in three years in September 2026, recording a year-on-year increase of 17.1 per cent. According to a report from Equirus Securities, market sales reached approximately Rs. 253 billion, with unit growth at 5.4 per cent. This acceleration follows a period of slower growth and reflects a broader recovery in demand driven by better diagnosis, preventive healthcare, and chronic disease management.

In the second quarter of FY2027, Indian Pharmaceutical Market (IPM) sales rose 14.7 per cent year-on-year. Key growth drivers included vitamins, minerals, and nutritionals, which grew by 22.2 per cent, followed by anti-diabetic and cardiac therapies. Chronic therapies remain a primary structural driver for the sector.

Amidst this market expansion, Biocon and Syngene International Executive Chairperson Kiran Mazumdar-Shaw has called for the industry to transition “from volume to value.” Speaking at the Indian Foundation for Quality Management Symposium 2026, she emphasized that while India has seen great success in generic medicines, it must now prioritize an innovation-led strategy. She advocated for increased investment in research and development, faster regulatory approvals, and a stronger ecosystem to compete globally in new drug development.