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Indian Pharma to grow 7-9% in FY26 despite US headwinds: ICRA
The Business Guardian
|September 19, 2025
India’s pharmaceutical industry is set to record healthy revenue growth of 7-9 per cent in FY26, even as challenges in the United States market continue to weigh on performance, noted rating agency ICRA in its latest sector outlook.
According to ICRA, the growth momentum will be driven by 8-10 percent expansion in the domestic market and 10-12 per cent gains in Europe, while sales in the US are likely to moderate to 3-5 percent, compared with nearly10 per cent growth achieved in FY25.”The domestic market continues to be a key growth driver for Indian pharma companies. Sales force expansion, improved productivity of medical repre-
sentatives, deeper rural distribution, and new product launches are expected to support 8-10 per cent revenue growth in FY2026 in the domestic market,” said Kinjal Shah, Senior Vice President & Co-Group Head ICRA.
This story is from the September 19, 2025 edition of The Business Guardian.
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