India’s Pharma Market Grows 8.4% in FY25; Cardiac, Gastro & Anti-Diabetic Segments Lead

The country's pharmaceuticals market grew by 8.4% in the financial year 2022-25, driven by strong value growth in major therapies, as per stated by a market research firm Pharmarack,. Among the top-performing segments, the cardiac sector saw a 10.8% increase in value, followed by the gastrointestinal segment at 10.2% and the anti-diabetic segment at 8%.

These three segments account for approximately 34% of the pharmaceutical market's sales (in value), contributing to a total turnover exceeding ₹2.25 trillion. The number of units in the domestic market saw a growth of 1.2%.

Although chronic segments performed well in FY25, GSK’s antibiotic Augmentin was the top-selling drug of the year with Rs. 816 crore in sales. It was followed by USV’s anti-diabetic drug Glycomet GP, which recorded Rs. 803 crore in India. 

While the market's growth was primarily driven by price increases, it was also influenced by two major events in March 2025, the patent expiry of the diabetes molecule empagliflozin and the launch of the anti-obesity drug Mounjaro in India.

Sheetal Sapale, vice-president (commercial) at Pharmarack, stated that within the first month of empagliflozin losing exclusivity, approximately 86 brands from 19 companies had introduced plain and combination versions of the molecule. 

She also said that, “The molecule has seen a drop in March 2025 in terms of value compared to a sharp increase in the quantity of brands. This indicates a strong price differential in the branded generics versus the innovator brand.”

For instance, after losing its patent, the price of plain empagliflozin has dropped by nearly 85 per cent, falling from ₹60-70 per tablet to ₹5-15 per tablet.

Sapale stated that the launch of Mounjaro, which contains the molecule tirzepatide, is expected to boost the anti-obesity market. As of March 2025, the segment's moving annual turnover stood at ₹576 crore, with tirzepatide contributing ₹1.4 crore within just a month of its launch.

The market had already gained momentum due to Semaglutide, which accounted for 69% of the segment’s moving annual turnover between April 2024 and March 2025.

Sapale noted that the rising prevalence of lifestyle diseases, along with a growing willingness and capacity to pay, is driving rapid growth in the anti-obesity segment.

In March, the pharma market recorded a 7.5% value growth, driven by strong performance across nearly all major segments.

In March 2025, while leading pharma players saw modest monthly value growth in the domestic market, companies like Sun Pharma (14.9%), Torrent Pharma (14.7%), Intas (12.8%), and Zydus (10.8%) achieved double-digit growth. Additionally, Pharmarack reported a 1.8% increase in unit growth for the pharma market during the month.