New Delhi, Feb. 11 -- India's pharmaceutical industry is poised for significant growth, with its share in the global market expected to rise to 5 per cent by 2030, according to a report by Bain & Company.

The Indian pharma market, currently valued at around USD 55 billion, is projected to expand 2.2 to 2.4 times over the next six years, reaching USD 120 billion to USD 130 billion.

It said, "The Indian pharma market, currently valued at USD 55 billion, is expected to reach USD 120 billion to USD 130 billion by 2030 and to approach USD 450 billion by 2047."

The global pharmaceutical industry is currently worth about USD 1.6 trillion, with India contributing around 3 per cent to 3.5 per cent. The anticipated growth will solidify India's p...