Revenue of domestic API firms to see 7-8 pc increase by 2029: Report

The revenue of domestic active pharmaceutical ingredients (API) producers in India is projected to grow by 7-8% annually by 2029, according to a report by ICRA. The rating agency estimates that revenues will increase from USD 13-14 billion in 2023, driven by the pharmaceutical formulations industry and factors like an aging population, rising chronic diseases, and contract manufacturing demand. The operating profit margins of API firms are expected to improve in FY2025. Despite past challenges, including volatile earnings due to rising raw material costs and supply chain issues, the industry is poised for steady growth.

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