India: drugs and pharmaceutical export value 2019 | Statista (2024)

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India: drugs and pharmaceutical export value 2019 | Statista? ›

Value of Indian drugs and pharmaceutical exports FY 2017-2019. In fiscal year 2019, India exported drugs and pharmaceutical products to the U.S. valued at almost six billion U.S. dollars and over 13 billion dollars to the rest of the world.

During 2021-22, the country exported pharma products worth US$ 24.62 billion, flat over the previous year. In 2020-21, the exports grew at 18% YoY to US$ 24.4 billion.

The pharmaceutical industry in India is expected to reach $65 Bn by 2024 and to $130 Bn by 2030. The pharmaceutical industry in India is currently valued at $50 Bn.

India is also the largest provider of generic medicines globally, occupying a 20% share in global supply by volume. The industry manufactures about 60,000 different generic brands across 60 therapeutic categories. India exports Pharmaceuticals to over 200 countries.

For 2023, the total global pharmaceutical market was estimated at around 1.6 trillion U.S. dollars.

India, the world's largest provider of generic drugs exported pharmaceuticals worth over 25 billion U.S. dollars in the financial year 2023. In terms of volume, Indian drugs constituted 20 % of the global generic drug exports, with North America having the largest share.

Yearly Trade

In 2022, India exported a total of $468B, making it the number 15 exporter in the world. During the last five reported years the exports of India have changed by $159B from $309B in 2017 to $468B in 2022.

Pharmaceutical imports by value from India have risen by a factor of 46 in just 20 years. India is currently the fourth largest exporter of pharmaceuticals to the U.S. at about $9.7 billion in value of goods, accounting for about 6% of U.S. pharmaceutical imports.

India is the 3rd largest producer of medicine in the world and it also the largest provider of generic medicines globally. Q. India is the fourth largest producer of medicines in the world and is also a large exporter of medicines . but nearly 67% of the population in India does not have access to essential medicines .

United States: The largest market, accounting for over 25% of Indian pharmaceutical exports. United Kingdom: Another significant importer, with a focus on generic drugs. South Africa: A major market for antiretroviral medications and other essential medicines.

What is the rank of Indian pharmaceutical industry in the world? ›

India's Thriving Pharmaceutical Industry

According to Economic Survey 2022-23, India is ranked 3^rd worldwide in the production of pharma products by volume and 14^th by value. It is majorly driven by factors such as a large patient population, increasing healthcare needs, and a growing middle class.

Sun Pharmaceutical Industries

When it comes to Indian drug makers, Sun Pharma is undeniably best positioned as it is the country's largest company by market capitalization and has experience with generic pharmaceuticals. Sun Pharma manufactures and distributes medicines in more than 150 countries across six continents.

In 2022, the top exporters of Pharmaceutical products were Germany ($125B), Switzerland ($93.8B), United States ($90B), Ireland ($83.5B), and Belgium ($73.5B).

India's pharmaceutical market size was valued at 49 billion U.S. dollars in 2022, with a projection to reach 450 billion dollars by 2047. The market is expected to grow at a CAGR of nine percent in the coming years.

Country-Specific Pharmaceutical Statistics

The United States is the largest pharmaceutical market globally, with its pharmaceutical sector valued at around 2.8 trillion USD in 2021. Other major players include China, with an estimated 840 billion USD value, followed by Japan, Germany, and France.

In fact, petroleum products are India's largest export, accounting for over 14% of the country's total export value by Export import data in India. The country's location in the Middle East, along with its strategic refining capabilities, makes it a major player in the global oil trade.

Exporters and Importers

In 2022 Pharmaceutical products were the world's 7th most traded product (out of 96). In 2022, the top exporters of Pharmaceutical products were Germany ($125B), Switzerland ($93.8B), United States ($90B), Ireland ($83.5B), and Belgium ($73.5B).

According to the Department of Pharmaceuticals, the current size of the industry is around USD 43 Bn and it is growing at a rate of 7-8% in the drug sector and 15- 16% in the medical devices sector. Currently, the industry's contribution to the Gross Domestic Product (GDP) is about 1.72%.