Cardiac, Antimalarial Therapies Drive Indian Pharma Market Growth In August: Report
Date
9/12/2024 4:45:24 AM
(MENAFN- IANS) New Delhi, Sep 12 (IANS) Driven by cardiac, antimalarial, and gastrointestinal therapies the Indian Pharmaceutical market has seen more than 6 per cent growth in the month of August, according to a report.
The report by market research firm Pharmarack showed that the pharma market growth surged as these therapies registered nearly double-digit value growth.
While cardiac and antimalarial therapies saw the highest growth (9.7 per cent), it was followed by gastrointestinal therapies which registered 8.7 per cent growth.
Sheetal Sapale, vice-president (commercial) at Pharmarack attributed the market growth for August month to new introductions and price growth.
Growth in the moving annual turnover (MAT, which is the previous 12 months' turnover) for the pharma market 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. However, volumes in the domestic market went down by 0.2 per cent.
Further, the report also showed robust volume growth in MAT of leading therapy areas such as anti-infectives, cardiac, and gastrointestinal. Together these therapies account for 38 per cent of the Indian pharma market.
While anti-infectives grew the highest at 10.7 per cent, cardiac therapies had a growth of 9.5 per cent, and gastrointestinal grew at 9.1 per cent.
Notably, among the top 40 companies in the Indian pharma market, firms like 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.
The top players registered modest monthly value growth in the domestic market in August. The report also noted that the pharma market grew despite a negative unit growth of -1.7 per cent.
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