The Indian pharma industry recorded a growth of 8.8% in FY26, reaching annual sales of Rs 2.46 lakh crore in the domestic market in the last fiscal year, up from Rs Rs 2.26 lakh crore in FY25, as per healthcare research firm Pharmarack. The jump in dometic sales is led by strong performance in key segments like cardiac and anti-diabetic where the FY26 growth stood at 13.6% and 11.3%, respectively.
Value Gap
The data shows that FY26 growth was largely driven by price expansion, new launches, and increasing adoption of glucagon-like peptide-1 (GLP-1) and advanced generics. “Despite new product launches throughout the year, 8.6% growth in FY26 comes from value expansion with just about 0.6% contribution from unit sales,” said Sheetal Sapale, vice president (commercial) at Pharmarack.
Within the anti-diabetic segment, factors that contributed to the rise in sales include increased screening, improved disease monitoring, and a clear shift toward combination therapies for better glycaemic control.
“The rising adoption of GLP-1 therapies is set to reshape the anti-diabetic market by shifting demand toward high-value, outcome-driven treatments and thus will increase therapy switching from conventional oral anti-diabetic drugs (OADs),” the report said.
Meanwhile, the rising burden of cardiovascular diseases coupled with increasing focus on early diagnosis, preventive care boosted the cardio segment sales. “Lipid-lowering therapies, diuretics, heart failure treatments, and antiplatelet agents contributed significantly, thereby underscoring a clear shift toward proactive and comprehensive cardiovascular risk management,” the report noted.
Though smaller in size, segments such as respiratory (14.49%), gynaecological (7.9%), and VMN (vitamins, minerals, nutrients) therapy have registered steady growth last year.
According to Pharmarack, the VMN segment grew on the back of rising health consciousness, greater focus on preventive care, and a rising prevalence of micronutrient deficiencies. “The expanding use of GLP-1 therapies for diabetes and obesity management is expected to further drive growth, as appetite suppression and reduced caloric intake will increase the need for vitamin and micronutrient supplementation,” it said.
Mounjaro Effect
In FY26, the top players in domestic pharma market (based on turnover) included Sun Pharma, Abbott, Cipla, Mankind and Torrent Pharma. Among the top 10 companies, seven have reported double-digit growth.
The last fiscal also witnessed Eli Lilly’s Mounjaro emerging as the highest selling drug domestically overtaking GSK’s Augmentin and USV’s Glycomet GP which were market leaders for several years.