The Indian pharmaceutical market (IPM) grew by 6.3 per cent in August this year, with major therapies showing positive value growth despite a negative unit growth of -1.7 per cent, according to market research firm Pharmarack.
Among them, the cardiac, antimalarial, and gastrointestinal therapies saw nearly double-digit value growth of 9.7 per cent, 9.7 per cent, and 8.7 per cent, respectively, driving the overall IPM growth.
Sheetal Sapale, vice-president (commercial) at Pharmarack, said that new introductions and price growth have driven the market growth for the month of August 2024.
Growth in the moving annual turnover (MAT, which is the previous 12 months’ turnover) for IPM between August 2023 and July 2024 stood at 7.7 per cent, leading to a total turnover of over Rs 2.04 trillion in IPM, while volumes in the domestic market went down by 0.2 per cent.
The MAT of leading therapy areas such as anti-infectives, cardiac, and gastrointestinal, which constitute around 38 per cent of IPM, showed robust volume growth at 10.7 per cent, 9.5 per cent, and 9.1 per cent, respectively.
While top players registered modest monthly value growth in the domestic market in August 2024, players such as Natco (43.1 per cent), Fourrts (27.8 per cent), Bharat Serums (20.9 per cent), Hetero (17.5 per cent), and FDC (15.6 per cent) posted significant monthly value growth among the top 40 companies in the IPM.
GSK’s antibiotic drug Augmentin and USV’s anti-diabetic drug Glycomet GP continued to be the top-selling medicine brands for the month, with sales of Rs 77 crore and Rs 65 crore, respectively.
First Published: Sep 11 2024 | 6:45 PM IST
