Pharma Inc Eyes Larger Pie of US' Cancer Generics Market

Gaining Ground

- ANJALI SINGH

Indian drug firms are eyeing a larger share of the $145 billion US oncology market, which is expanding at an 11 percent compound annual growth rate (CAGR).

In the past few months, several Indian drug firms have received US Food and Drug Administration (FDA) approvals for oncology generics, marking a steady rise in complex generic and biosimilar drug entries in the US market.

The US oncology market size was valued at $145.52 billion in 2024 and is projected to hit around $416.93 billion by 2034, expanding at a CAGR of 11.1 percent over the forecast period from 2025 to 2034.

Experts believe the approvals, including those for Cipla, Biocon Biologics, and Zydus Lifesciences, highlight the growing capabilities of Indian companies in the complex realm of cancer treatment and their increasing footprint in the lucrative US market, which signals a continuation of India's strategic shift from commoditized generics to specialty therapies like oncology.

Indian firms have been focusing on complex generics for some time now, which insulates them partially from pricing pressures in the generics space in the US.

"The post-pandemic FDA process has normalized, and Indian firms are focusing on complex molecules like oncology drugs because the basic generics space has reached saturation," said a senior executive at an Indian pharmaceutical company.