Predictive Analytics of Pharmaceutical Industry Growth – A Study with Reference to India

The Indian pharmaceutical industry plays a pivotal role in the global market, contributing significantly to economic growth, exports, and GDP. As the world's largest supplier of generic medicines, India has positioned itself as the “Pharmacy of the World,” catering to both domestic and international demand. This study employs predictive data analytics to examine the growth trajectory of the Indian pharmaceutical industry, its contribution to GDP, and its expanding role in exports over the period 2010–2023. The findings indicate that the sector has experienced consistent expansion, with its market size increasing from USD 9.5 billion in 2010 to USD 50 billion in 2023, and its contribution to exports rising from USD 6.8 billion to USD 26.5 billion during the same period. Forecasted trends suggest that by 2029, the industry could reach USD 72 billion, with continued growth in exports. The study underscores the need for sustained investment, policy support, and innovation to ensure the sector's long-term competitiveness in the global market.