Top 10 Pharmaceutical Companies in India’s Healthcare Horizon

It is projected that the market value of the Indian pharmaceutical sector will soar to new heights. The estimates are that the sector will reach USD 65 billion by 2024 and USD 130 billion by 2030.

Did you know India is the largest supplier of generic medicines? It accounts for 20% of the supply of generics globally, manufacturing about 60,000 different generic brands across 60 therapeutic categories.  

Let’s explore the powerhouses behind this phenomenal growth – the top 10 pharmaceutical companies in India. Each of these pharmaceutical companies has played a crucial role in shaping and advancing India’s pharmaceutical industry.

Pharmaceutical Companies in India at Top Ten Positions

10 prominent pharmaceuticals in India by market value and sales are:

1. Sun Pharmaceutical Industries Limited: 

Sun Pharma, one of the biggest pharmaceutical companies in India has a manpower of 37,000 employees. It was established in 1983. It holds its head operations from Mumbai, Maharashtra. 

Different chronic and acute therapeutics are their offerings. Sun Pharma supplies raw materials for the production of several drugs. 

In 2024, Sun Pharma generated a consolidated income of INR 498 billion, which was INR 445 billion in the previous year.

In the US also, Sun Pharma has succeeded in maintaining its position among the top pharmaceutical companies. Not only is it the fourth generic medicine company in the world, but it is also India’s finest company for pharmaceuticals. Lastly, they also offer over 100 formulations of medicines.

2. East African Overseas, India: 

EAR Overseas is a research-centric company that not only delivers but also manufactures clinically approved and premium quality medicines. Thus, it contributes largely to the healthcare industry. Fulfilling the needs of people and curing their ailments has been the entire drive of this establishment. The method of their conductance proves that they hold high standards and follow the best practices to ensure everything that they do is ethically and morally right.

Interestingly, EAR Overseas gives their buyer over 1000+ health care premium products that heal a wide range of health issues. Moreover, they are also a WHO-GMP-approved production facility with ISO certifications. EAR overseas also caters to the needs of Africa and the Middle East.

3. Cipla: 

Cipla has about 22036 employees working for them, and they have their headquarters in Mumbai, Maharashtra. It was established in 1935 and it has slowly made its place in the world of medicines. Cipla primarily researches and creates drugs for different respiratory and cardiovascular diseases. They are also the manufacturers of drugs used to treat diabetes, depression, arthritis,etc. They also have launched several innovative ideas and products to help the healthcare industry. Cipla has a strong presence in the global markets as well. 

In 2024, Cipla generated a consolidated revenue of INR 257 billion, significantly increasing from INR 217 billion in 2022. Moreover, Cipla reported 44.9% in consolidated profit after tax (PAT) at INR 1,155.37 crore in the second quarter ended September 2023.

4. Aurobindo Pharmaceuticals: 

This pharmaceutical company was established in Puducherry in 1986. They started as semi-synthetic penicillin manufacturers. From humble beginnings, the company has blossomed into a leading pharmaceutical force in India. It is recognized for its expertise in crafting generic over-the-counter drugs and active pharmaceutical ingredients (APIs).

In 2024, Aurobindo Pharma generated a revenue of over INR 290 billion. Moreover, it earned the highest share of revenue at 48% from its US drug formulations, followed by drug formulations for the European Union in 2024. 

Recently, Aurobindo Pharmaceuticals has acquired several smaller companies. In 2014, it acquired a company selling products in around 7 different Western European nations. They have a very strong R&D sector and a well-connected distribution agency that helps them expand their reach in over 125 countries worldwide. Being known for their consumer satisfaction, they employ over 23000 people.

5. Abbott India: 

Abbott is a well-known US-based company that has one of its divisions in India. It is world-renowned and was introduced in India in 1944. They have their headquarters in Mumbai, Maharashtra. They provide medicines for different neurology, gastrointestinal, and urologic issues. They also manufacture supplements for women’s health, vitamins, anti-inflammatory medications, anti-infectives, and more. In the Indian market, Abbott sells over 400 generic drugs. They offer premium healthcare services and are extremely dependable. 

6. Dr Reddy’s Laboratories: 

Dr Reddy’s Laboratories began in Hyderabad, Telangana, and it is largely known for its generic medicines. It was founded in 1984, and they are known for their 60 active pharmaceutical ingredients and biotechnology goods. They also have wonderful diagnostic tools and critical care facilities. They have been providing both innovative and affordable medications ever since its establishment. They offer employment to over 21000 people and were listed in the BSE market in 1986.

Dr Reddy’s Laboratories’ revenue increased from INR 245 billion in 2023 to INR 279 billion in 2024. Moreover, it emerged as one of the best pharmaceutical companies in India, producing more than 163 new medicinal products in its facilities as of 2023.

7. Torrent Pharmaceuticals: 

Torrent Pharmaceuticals is one of the finest pharmaceutical companies in India, having its spread over 40 locations. They have their headquarters in Ahmedabad and are well-known for their cancer medications. They also provide medications for women’s health, anti-infective drugs, diabetology, CNS, and cardiovascular diseases. They also have therapeutic treatments for pain management and gynecology. 

8. Zydus Lifesciences: 

Zydus Lifesciences was established in early 1952 and has its headquarters in Ahmedabad. They do extensive research on various diseases to manufacture and market pharmaceutical products. They offer their cures at affordable prices and have a stronghold on the generic drug division. Zydus has even indulged in the field of OTC herbal products and skincare. They have many manufacturing facilities across the world and are leading sellers of pharmaceutical products. 

9. Lupin Limited: 

Employing over 18500 people, Lupin Limited is headquartered in Mumbai, India. It operates in more than 40 nations worldwide. The company focuses on the manufacturing of a diverse array of pharmaceutical products. Its substantial market share extends notably into healthcare and products based on chemicals. Lupin Pharmaceuticals manufactures medicines for diseases like tuberculosis, diabetes, asthma, cardiovascular diseases, and pediatric issues.

10. Divi’s Laboratories: 

Employing over 20000 employees, Divi’s Laboratories was established in 1990. It has its headquarters in Telangana. They are expanding their reach and are currently on the list of the most competitive pharmaceutical businesses in India. They sell generic APIs, nutraceutical ingredients, etc. They have several manufacturing facilities worldwide.

Pharmaceutical Industry Trends and Challenges

Trends

Here are some of the major trends seen in the pharmaceutical industry:

• Transition in consumer behaviour and attitude: Consumer behaviour has undergone several changes after the COVID-19 pandemic. The interest in healthcare services and digital healthcare services has grown extremely popular and is now demanded by the masses. The use of technologies like IoT, AI, and ML is now crucial to the healthcare domain. 
• Digital and portable solutions: The shift to remote and digital solutions is key today, even in the healthcare and pharmaceutical world. The idea is to become patient-centric and provide pharmaceutical care with minimal contact completely. It means that it is time the world embraces a new form of therapeutic solution for health-related issues. More and more digital tools and therapies will begin to take over the pharmaceutical world. 
• Universal marketplace: With the wide availability and adoption of different solutions and methods of treatment, growth in global markets for pharmaceuticals is extremely possible. Through digital engagement and working expansion solutions, global operations and connections are on the horizon. 

Challenges

Here are some of the major challenges the pharmaceutical industry in India is facing:

• Among several significant challenges observed in the pharmaceutical industry, resources, skills, and time required for training and establishing a unified workforce is a major one. This requires deep, in-depth knowledge, and any skill gaps can pose a tremendous challenge.
• Disruption in logistics and the supply chain can cause unforeseen disruptions in the pharmaceutical world. Having a strong logistics force and on-time delivery is vital to ensure medications and other healthcare products reach their destination on time.
• The effects of the Coronavirus pandemic are receding and the impact is still visible. The solutions that have come up to cater to all these disruptions are extremely costly, making it not feasible to employ in developing nations.
• With the use of digital solutions and remote medical care, the chances of cyber attacks and fraud are now more than ever. Using modern technology like IoT can expose pharmaceuticals to attacks that might result in huge losses for the healthcare world. So, it is necessary to put up effective solutions to combat cyber attacks. 
• Getting approval from the right authorities after the creation of new cures can be quite a challenge. Jumping through all the hoops can cause unnecessary delays.

Conclusion

To conclude, the pharmaceutical sector is rapidly growing in India. The pharmaceutical industry is also adopting modern digital solutions, and the companies operating out there are all equipped to face future challenges. With a greater need to address emerging diseases and the goal to treat incurable diseases, this sector will only continue to grow.