New Delhi, Feb. 11 -- India's pharmaceutical industry is on the brink of remarkable growth, with its global market share projected to rise to 5 per cent by 2030, according to a report by Bain & Company.

Currently valued at around USD 55 billion, the Indian pharma market is expected to more than double over the next six years, reaching an estimated USD 120 billion to USD 130 billion.

By 2047, the market could approach USD 450 billion, cementing India's position as a major player in the global pharmaceutical landscape.

At present, the global pharmaceutical industry is valued at about USD 1.6 trillion, with India contributing roughly 3 per cent to 3.5 per cent. What makes India's pharma sector unique is that its export market is as substa...