Latest News
  1. Freight Surge and Gulf Tensions Threaten India’s Pharma Exports; Industry Flags Potential ?5,000-Crore Impact
  2. Min. Nadda Unveils ?13,000-Crore Bio-Pharma SHAKTI and Chemical Parks Push to Expand India’s Global Chemicals and Biologics Footprint
  3. Aurobindo Pharma Subsidiary Launches Generic Cancer Drug in US, Expands Oncology Portfolio in Global Generics Market

News

Indian pharma market registers over 6% growth in July '24: Pharmarack

This growth was driven by significant value increases in key therapeutic areas, despite a decline in overall volume growth, which fell by -2.1 percent.

Indian pharma market registers over 6% growth in July '24: Pharmarack
News

The Indian pharmaceutical market (IPM) experienced a 6.1 percent growth in July 2024, as reported by market research firm Pharmarack. This growth was driven by significant value increases in key therapeutic areas, despite a decline in overall volume growth, which fell by -2.1 percent.

Therapies related to anti-infectives, respiratory, and gastrointestinal issues were the primary contributors to the market's expansion, with nearly double-digit value growth of 12.8 percent, 10.5 percent, and 9.7 percent, respectively.

Sheetal Sapale, Vice-President (Commercial) at Pharmarack, noted that although the IPM experienced a drop in overall volume, certain categories displayed both strong volume growth and the introduction of new products during July 2024. The report highlighted that seasonality-driven molecules, particularly those in the anti-infective category, showed notable volume-driven growth.

Over the 12-month period from August 2023 to July 2024, the moving annual turnover (MAT) for the IPM grew by 7.6 percent, reaching a total of over Rs 2.03 trillion. During this period, domestic market volumes saw a slight increase of 0.2 percent.

Leading therapeutic areas such as anti-infectives, cardiac, and gastrointestinal, which together represent about 38 percent of the IPM, demonstrated robust volume growth, with increases of 10.1 percent, 9 percent, and 8.9 percent, respectively.

In July 2024, while most top pharmaceutical companies recorded modest monthly value growth in the domestic market, a few companies stood out. Among the top 40 firms, Fourrts achieved a 41.4 percent growth, Natco 36.5 percent, FDC 22.1 percent, Torrent 15.9 percent, and Intas 15.7 percent, marking significant value growth.