Indian Pharma Market Grows 10.1% to Rs 20,012 Cr in March: Report

New Delhi: The Indian Pharmaceutical Market (IPM) registered a value growth of 10.1% in March 2026, reaching Rs 20,012 crore, according to the latest PharmaTrac industry report by Pharmarack.

On a moving annual total (MAT) basis, the market stood at Rs 245943 crore, reflecting 8.6% growth. In unit terms, the market recorded marginal growth of 0.1% for the month and 0.6% on a MAT basis, indicating that growth continued to be largely value-driven.

Therapy-wise, cardiac therapies recorded strong growth of 14.6%, while anti-diabetic therapies grew 15.5% during the month. Respiratory therapies expanded by 10.7%, and vitamins and minerals registered 10.9% growth. Neuro/CNS therapies grew by 11.6%, dermatology by 9.5%, and pain/analgesics by 8.7%. Gastrointestinal and anti-infective segments showed relatively moderate growth at 4.3% and 4.0%, respectively. Among specialty segments, anti-neoplastics grew 12.4%, urology 12.8%, and vaccines posted a robust growth of 22.7%, emerging as one of the fastest-growing therapies in March.

At the corporate level, Sun Pharma retained its leadership position with monthly sales of ₹1,703 crore, followed by Cipla with ₹1,191 crore and Abbott with ₹1,158 crore. Mankind Pharma and Torrent Pharma also remained among the top performers. Other major companies including Alkem, Intas, Lupin, Dr. Reddy’s, and Zydus recorded steady growth, with most top players showing encouraging value expansion during the month.

At the brand level, Mounjaro emerged as the top-selling brand, maintaining its leading position both on MAT and monthly basis. Augmentin and Glycomet GP secured the second and third positions, respectively. Other leading brands included Foracort, Pan, Mixtard, Liv.52, Zerodol SP, Clavam, and Thyronorm. Several brands such as Cilacar, Telma, and Ecosprin AV also demonstrated strong growth momentum, reflecting sustained demand across chronic and acute therapy segments.

The report highlighted that all three growth drivers—new products, price, and volume—remained positive during March 2026, with price growth continuing to be a key contributor. Additionally, the increasing impact of GLP-1 therapies, particularly semaglutide generics, is expected to further shape market dynamics in the coming months, with more aggressive launches anticipated.

To view the report, click the link below: