Business

Indian Pharma market registers 9% growth in February

• By Newsdesk
• New Delhi
• Mar 09, 2024

Business

In February, India's pharmaceutical market witnessed nearly 9% month-on-month growth, as reported by market research firm Pharmatrac. Despite overall growth, the respiratory segment experienced a decline both in terms of value and units, contrasting with the positive performance of other therapy areas, notably cardiology and anti-infective sectors.

Sheetal Sapale, VP Commercial at Pharmarack, highlighted the industry's strong performance, with close to 9% growth across various therapies, except for respiratory. While unit growth posed challenges in most therapy areas, value growth remained promising.

The growth in February was primarily attributed to price increases and new product launches, a trend consistent with the previous year. While volume-driven growth was notable in segments such as cardiac, anti-infective, and anti-neoplastic, other therapy areas relied on price adjustments and new offerings for market expansion.

Notably, Augmentin maintained its position as the top-selling antibiotic, witnessing a significant 22% growth. Other leading performers included Rosuvas, Thyronorm, Liv 52, and Pan, all demonstrating robust double-digit growth in both value and units.

Rybelsus, an anti-diabetic medication, sustained its triple-digit growth momentum from previous months, while brands like Ecosprin AV and Electral also exhibited strong double-digit growth.