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GLP-1 innovation & chronic care surge propel Indian pharma to a record Rs. 2.4 lakh crore valuation
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Our Bureau, Chennai
January 15 , 2026
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The Indian Pharmaceutical Market (IPM) maintained a strong growth trajectory through December 2025, reaching a total valuation of Rs. 2,40,672 crore on a Moving Annual Total (MAT) basis. Monthly sales for December hit Rs. 21,207 crore, representing a 10.6 per cent year-on-year increase that added Rs. 2,031 crore in market value.
According to AIOCD data, this resilience is anchored by a transition from post-pandemic volatility to a structurally driven growth phase, with 2026 projections estimating a positive value growth range of 7.8 per cent to 9 per cent.
Growth is increasingly powered by lifestyle-led chronic therapies, which continue to outperform other segments due to a rising burden of non-communicable diseases and earlier medical diagnosis. The chronic segment alone posted a robust 13.4 per cent value growth in December 2025, contributing Rs. 902 crore in incremental sales. High-performing brands like Glycomet GP and Thyronorm maintain strongholds in this category, while new innovations are fundamentally reshaping prescribing behaviours.
A major catalyst for this expansion is the rapid adoption of next-generation GLP-1 agonists (anti-obesity and anti-diabetic medications). Eli Lilly’s Mounjaro made a significant impact, jumping 11 positions to reach the 19th spot in the chronic segment rankings shortly after its launch. Other prominent launches, such as Wegovy and Ozempic, have further solidified the anti-diabetic therapy as one of the most innovation-led growth engines in the market.
Innovation remains a critical pillar of market health, with 5,564 new product introductions contributing Rs. 4,180 crore to the market over the last 12 months. These new launches captured a 3.81 per cent market share in December 2025, growing at a rate of 20.5 per cent compared to the previous year. The anti-diabetic supergroup led the way in new introductions, followed closely by dermatology and cardiac therapies.
Geographically, the south zone has emerged as the undisputed growth leader, posting the strongest value surge nationwide. This regional success was largely powered by anti-diabetic therapy, which delivered solid double-digit growth across the zone. Meanwhile, the north zone continues to act as the country's ‘volume anchor’, with steady demand for cardiac and anti-infective treatments.
The market is also witnessing a structural shift in how consumers access healthcare, with OTC and OTX categories moving toward retail, e-pharmacy, and direct-to-consumer (D2C) channels. This is particularly evident in dermatology and nutrition segments, where digital engagement is becoming as vital as traditional prescription models. Companies are increasingly adapting their portfolios to meet this consumer-led demand while navigating a landscape defined by expanding specialty care.
As the industry looks toward 2026, a major strategic milestone will be the patent expiration of Semaglutide in March 2026. This event is expected to trigger a wave of branded generics, accelerating volume growth in the anti-obesity category even as price erosion potentially moderates value growth. Success in this next phase will depend on sharper portfolio focus and faster execution in specialty segments and innovation.
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