The modern, empowered Indian woman is not whispering her needs anymore. She is owning her voice, and her health. Fuelled by increasing awareness, greater access to information, and a growing demand for autonomy over her well-being, she is transforming the healthcare landscape. In response, the Indian pharmaceutical sector is stepping up.
From addressing the everyday realities of menstrual pain and the crucial stages of prenatal care to tackling hormonal balance and supporting fitness nutrition, drugmakers are reimagining their consumer health portfolios with a clear focus on convenience, personalisation and preventive care, meeting women where they are, with solutions that can seamlessly integrate into their lives.
Pharma’s Rx: Women First
Recognising the potential, major pharmaceutical players like Dr. Reddy’s Laboratories, Bayer, and Mankind Pharma are expanding their portfolios to cater to the diverse health and wellness needs of women at various life stages.
Dr. Reddy’s Laboratories, in a strategic collaboration with Nestlé India, is aiming to capture a significant share of this market by offering a range of nutritional health products. The brands from Nestlé Health Science include Nature’s Bounty, Osteo Bi-Flex, Ester-C, Resource High Protein, Optifast, Resource Diabetic, Peptamen, Resource Renal, and Resource Dialysis. Dr. Reddy’s will contribute brands such as Rebalanz, Celevida, Antoxid, Kidrich-D3, and Becozinc in nutrition and over-the-counter (OTC) segments. This expansion is further evidenced by their acquisition of brands like Premama, targeting fertility, and MenoLabs, addressing the needs of menopausal women, alongside a well-established presence in OTC products across various international markets, with a specific emphasis on women’s health, allergy relief, and pain management.
Meanwhile, Bayer’s Consumer Health Division addressed a significant and often overlooked need in India with the launch of Saridon Woman in 2024. Sandeep Verma, Cluster Head—South Asia, Bayer Consumer Health, emphasises that “Saridon Woman is specifically designed to ease menstrual pain.”
Mankind Pharma is also strategically extending its reach within the women’s health segment, offering a diverse range of products spanning reproductive care, personal wellness, dermatology, and fitness. Joy Chatterjee, Vice President and Sales and Marketing Head of Mankind Pharma’s Consumer Business Unit, highlights their core philosophy. “Our focus is on creating solutions that empower women to take charge of their health, with an emphasis on accessibility and preventive care.”
A key example of this is Prega News, a home pregnancy detection kit. It has also broadened offerings to include ovulation kits, fertility supplements, prenatal vitamins, and stretch mark prevention products, supporting healthy pregnancies. Furthermore, they offer Unwanted-21, a readily available contraceptive pill, and Acnestar, a skincare solution targeting hormonal acne. Mankind Pharma’s consumer healthcare segment generated approximately `706 crore in revenue in FY24, accounting for around 7% of the total revenue. The company plans to scale up this vertical, aiming to increase the contribution to 15%.
Beyond product expansion, Mankind is actively investing in digital campaigns and collaborating with healthcare professionals. Its plans include venturing into hormonal health supplements, advanced menstrual care, fitness nutrition, and even mental wellness, with a focus on supporting cognitive health and stress management.
These concerted efforts from major pharmaceutical players are clearly aligned with the burgeoning demand for women-specific healthcare solutions.
Another pharma major, Lupin, has also been quick on its feet. Anil Kaushal, Head of LupinLife, Lupin’s consumer healthcare division, reiterates this focus, highlighting the launch Corcium D3 as a prime example of “commitment to advancing women’s health through innovative, targeted offerrings.”
What data shows
The transformation in the once underserved segment is driven by increasing health awareness among women, targeted government initiatives, and a distinct shift in consumer preferences towards personalised and tech-enabled solutions.
According to Market Research Future, the Indian women’s healthcare market, valued at `7,000 crore in 2023, is projected to witness substantial growth, reaching `29,000 crore by 2035, registering a compound annualised growth rate of 10.6% between 2025 and 2035. This demand is further highlighted by recent data revealing the increasing prevalence of specific health concerns. For instance, a 2023 study published in the Journal of Reproduction and Infertility, drawing data from the NFHS-5, found that 18.7 per 1,000 married women aged 15–49 (married for at least five years) experience primary infertility. Furthermore, a 2024 report in JAMA Network Open, a medical journal, indicates that polycystic ovary syndrome (PCOS) affects a substantial 60% of Indian women aged 24–34 and 51% of those under 24, often presenting alongside conditions like obesity, insulin resistance, and non-alcoholic fatty liver disease (NAFLD).
Dr. Neema Sharma, Director, Obstetrics and Gynaecology at Fortis Hospital, Vasant Kunj, corroborates this trend. “There has been a noticeable rise in gynaecological health issues among women in India, particularly after Covid-19. Conditions like PCOS have become more prevalent. Fertility issues are also rising. Menstrual irregularities have also increased, with many women reporting early-onset and persistent cycle disturbances,” she says.
Mental health awareness
The growing recognition of women’s health extends beyond physical ailments to include mental well-being. The Lancet Psychiatry’s Global Burden of Disease study (2023) starkly revealed that one in five Indian women grapples with anxiety or depression, a burden intensified by the pandemic.
Krishna Veer Singh, CEO and Co-Founder of LISSUN, a mental health platform, highlights the crucial role of digital solutions in bridging the access gap, stating, “In India, particularly in urban and semi-urban areas, digital health is quickly bridging the access gap for young, working women.”
The IMARC Group, a research platform, estimates that the Indian women’s health app market alone generated `1,800 crore in revenue in 2024 and is projected to reach `5,800 crore by 2030, with a compound annual growth rate (CAGR) of 19.8%. Singh further notes the increasing prevalence of “virtual therapy sessions, wellness programmes, and other tailored offerings.”
Another area gaining momentum is menopause. A 2021 study published in the Indian Journal of Endocrinology and Metabolism indicates that over 20 million women in India reach menopause annually, with an average age of 48. There has also been an interest in hormone replacement therapies and natural supplements aimed at managing menopausal symptoms.
Complementing pharma company’s initiatives, government schemes are also playing a crucial role in boosting women’s health. The Menstrual Hygiene Scheme under the National Health Mission has significantly improved access to sanitary products, particularly in underserved regions. Simultaneously, the Anaemia Mukt Bharat campaign, targeting iron and folic acid deficiencies, has catalysed growth in fortified foods and micronutrient products. Public platforms like Tele-MANAS and the National Mental Health Programme are also expanding mental health support.
Investment Rush
This significant market potential and the growing awareness of women’s specific health needs are attracting increased investor interest. The Covid-19 pandemic served as a catalyst, sparking a wave of strategic acquisitions and investments within the sector. In 2024, Mankind Pharma significantly strengthened its position in gynaecology and reproductive care through the `13,630 crore acquisition of Bharat Serums and Vaccines, enhancing capabilities in fertility and hormone-based treatments. The same year also saw Viatris divest its oral and injectable contraceptive business to Spain-based Insud Pharma in a substantial $1.2-billion global transaction. In 2020, Cipla expanded its women’s health and OTC portfolio by acquiring four nutraceutical brands from Wanbury.
The fertility sector also witnessed significant investment, with private equity firm BPEA EQT acquiring a 60% stake in the Indian fertility clinic chain Indira IVF in a `9,000-crore deal in 2023.
More recently, the sexual wellness market saw further investment, with That Sassy Thing, a women-first brand, raising `6 crore in seed funding led by Inflection Point Ventures.
Analysts also see value in the sector. Pharmaceutical analyst Salil Kallianpur points out that the market covers a wide range of products and services, and this broad scope shows the multifaceted nature of women’s healthcare needs and the corresponding opportunities for innovation.
This increased awareness and market potential are driving pharma companies to diversify their portfolios. Kallianpur cites examples such as Cipla’s launch of the Evexpert intimate wash and its partnership with Orchid Pharma for urinary tract infection treatments and collaboration with Ferring Pharmaceuticals, and Dr. Reddy’s distribution agreement with Novartis India.
He also points to investments by Dr. Reddy’s and Torrent Pharmaceuticals in menopause and PCOS therapies. Looking ahead, he sees significant growth potential in the untapped rural market, the increasing adoption of femtech, and more government-backed schemes.
Sales of infertility treatment medicines surged from `536.7 crore in FY21 to `1,212.1 crore in FY25, marking a 126% increase and a five-year CAGR of 22.6%.
Notably, Mankind Pharma emerged as a leader in this segment. However, a recent stabilisation signifies the dynamic nature of the market and the importance of continued innovation.
Sheetal Sapale, VP Commercial at Pharmarack, a commerce-to-insights technology company, corroborates the broader drivers of this growth, stating increased female literacy, income, and planned pregnancy trends driving growth in women’s health drugs.
As awareness increases and women take to caring for their health, eyes are on the sector to keep innovating, tailoring products just for her.
@neetu_csharma
