Key Highlights:
Did you know? India's pharmaceutical business is well-known for its extensive production capacity and significant contributions to world health, making it a global strength of the economy. Despite a 3% decline in overall exports, India's pharmaceutical exports increased by 9.67% to USD 27.9 billion in 2023–2024.
However, if you're new in the pharma market and want to start a pharma export business, In that case, this blog will help you find major pharmaceutical exports from India, their primary export destinations, their effects on the world market, and the contributing elements to their success.
The Indian pharmaceuticals sector is the pillar of the Indian economy, as we are primarily dependent on medicines.
Based on Indian pharma export statistics, India's pharmaceutical exports surged 9.67% to USD 27.9 billion in 2023-24, despite a 3% drop in total exports. March data shows a 12.73% rise to USD 2.8 billion. With almost 31% of exports, the US continues to be the largest market, followed by the UK and the Netherlands.
However, India is a significant pharmaceutical exporter, reaching more than 200 nations with its exports. More than half of Africa's generic needs are met by India, which also supplies roughly 40% of US generic demand and 25% of UK pharmaceutical demand.
Pharma exports increased by around 10% to US$ 27.9 billion, becoming the US the largest importer. Despite a 3% decline in overall exports, India's pharmaceutical exports increased by 9.67% to US$ 27.9 billion in 2023–24.
The US, UK, Netherlands, South Africa, and Brazil were the top five export destinations for the sector in the most recent fiscal year. Over 31% of India's total pharmaceutical exports came from the US, with the UK and the Netherlands following closely behind with roughly 3% apiece.
However, the pharmaceutical export from India consistently performs well in international trade, as evidenced by its monthly exports of goods valued at US$ 2–3 billion.
Pharmaceutical formulations and biologicals stood out as the primary export category in 2019–20, making up around 77% of all exports. Also, major pharma companies include a broad range of goods that serve different therapeutic areas, such as biologics, branded formulations, and generic medications.
Here is the list of pharmaceutical products exported from India:
Drug formulations and biologicals, which make up more than 75% of all exports, demonstrate India's capacity to produce a broad range of biologicals and completed pharmaceutical goods, satisfying the demand for vital pharmaceuticals around the world.
These are the finished dosage forms of drugs, including tablets, capsules, injections, and topical applications.
Did you know? Bulk drugs constitute the largest segment of India's pharmaceutical exports. These are drugs that are chemically identical to branded counterparts but are sold at lower prices.
With a share of 72.54%, formulations and biologics made up the majority of India's exports, followed by bulk pharmaceuticals and drug intermediates. Up till February 2024, the value of pharmaceutical and medication exports during FY24 was US$ 25.02 billion.
India is an emerging country with 1,387,297,452 people living there. A large number of herbal businesses have appeared in the Indian market as a result of the rising demand for herbal products.
Based on pharma export data, India has exported Ayush and herbal goods worth 1,240.6 million dollars. Also, India exported $628 million worth of Ayurvedic and herbal goods as of 2022–2023, including herbal drugs and supplements from Unani, Siddha, and Ayurveda.
Here are the top herbal products exported from India:
As per statistics on pharmaceutical export from India, India exported around 21,696 shipments of surgical instruments. Most of the surgical instruments are exported from India to the United States, Nepal, and the United Kingdom.
Based on medicine export data from India, the export value for surgical instruments from India was approximately 596 million U.S. dollars in the fiscal year 2023.
However, the other general medications are:
India's pharmaceutical sector is a significant player in the world market, exporting its goods to more than 200 nations. Although the market is constantly changing, the following are some of the major destinations for India pharma export:
|
Top Rank |
India Pharma Export Destinations |
|
1 |
Middle East |
|
2 |
Asia |
|
3 |
CIS |
|
4 |
North America |
|
5 |
Africa |
|
6 |
European Union |
|
7 |
ASEAN |
|
8 |
Latin America |
|
9 |
Caribbean (LAC) |
|
10 |
Other parts of Europe |
As per statistics on pharma export from India, India is a pharmaceutical exporter to the Middle East, Asia, CIS, North America, Africa, The EU, ASEAN, Latin America & Caribbean (LAC), and other parts of Europe.
As we know, the Indian pharma industry is one of the most significant sectors that contributes significantly to the economy. However, several pharmaceutical exporters in India play a vital role in the pharma exports from India.
So, these are the top pharma exporters in India. Elkos Healthcare Pvt. Ltd. is considered the foremost pharmaceutical exporters in India. However, if you need updated insights on pharmaceutical export from India or a pharma export company in India, connect with the Eximpedia app.
Also read: How to Export Medicines from India?
You can easily explore the updated pharma importers globally by visiting Eximpedia's data-driven dashboard. The Eximpedia app is the best platform to provide accurate, up-to-date, and genuine Indian pharmaceutical export data, as well as a list of pharmaceutical exports from India. It also includes statistics on the export of pharma products from India and pharmaceutical exporters in India.
In conclusion, pharma exports from India require careful planning and execution. It can be a profitable opportunity for traders who can fulfill the requirements of global customers.
However, you can increase your chances of success in the India pharma export market by knowing the updated India pharma export insights and the list of pharmaceutical exports from India. So, if you have any further queries regarding pharma export from India, import-export data, or Indian pharma export data, please connect with Eximpedia.app. To schedule a free live demo, click here.
The top pharmaceutical merchant exporters in India include Elkos Healthcare Pvt. Ltd., Dr Reddy’s Laboratories, Aurobindo, Sun Pharmaceutical Industries, and Cipla Limited.
The major India Pharma export destinations are Middle east asia, CIS, North America, Africa, and European Union.
Based on Indian pharma export statistics, India's pharmaceutical exports surged 9.67% to USD 27.9 billion in 2023-24, despite a 3% drop in total exports.
In 2022-23, Germany was the top country in terms of pharmaceutical exports, with an export value of $125 billion, accounting for 15.5% of the total global trade.
Here is the list of top pharma products export from India:
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