India has a well-developed healthcare sector with a globally renowned pool of scientists and engineers. The size of India's pharmaceutical market stood at USD 42 billion in 2021. Globally, India is the largest provider of generic drugs. The country is the third largest producer of pharmaceutical in the world, by volume and 14th largest by value.
The Pharma sector is linked with the healthcare sector, as the healthcare sector is expected to grow in 2022, the pharma sector is also looking forward to a promising year ahead. The FDI inflows in the Indian drugs and pharmaceuticals sector reached US$ 1.206 billion in year 2021
A sustained economic growth along with increase in penetration of health services across India will push expenditure on healthcare and medicine upwards