Indian Pharma Market Grows 5.3% in September, Sun Pharma, Cipla take the lead: Pharmarack report
New Delhi: The Indian Pharmaceutical Market (IPM) witnessed a growth of 5.3% in September 2024, primarily driven by the robust performance of key therapeutic areas, according to a recent report by market research firm, Pharmarack.
Urology, cardiac, and dermatology therapies experienced significant value growth rates of 11.8%, 9.7%, and 9.5%, respectively, contributing to the overall market expansion.
Despite the overall positive growth, volume growth remained negative at -2.3%. This indicates that while the overall value of the market increased, the quantity of drugs sold decreased slightly.
The moving annual turnover (MAT) for IPM increased by 8.5% between October 2023 and September 2024, resulting in a total turnover of over Rs 2.17 trillion.
Key therapeutic areas such as cardiac, gastrointestinal, and anti-infectives, which constitute around 38% of the IPM, demonstrated strong value growth of 12.5%, 9.9%, and 6.3%, respectively.
Also Read: IPM grew 19 percent in March, brands like Calpol, Augmentin observed highest growth: IQVIA
Sun Pharmaceutical Industries Ltd. emerged as the leading company with a 13.3% growth rate. Cipla followed closely with a 10.8% growth rate. Abbott also performed well with a 7.9% growth rate.
Among brands, Augmentin (GSK), Glycomet GP (USV), and Foracort (Cipla) secured the top three spots, demonstrating strong market presence and demand.
Several leading companies showcased strong monthly value growth, including Corona (19.8%), Hegde & Hegde (12.6%), Indoco (11.5%), Bayer (11.4%). These companies outperformed the overall market average.
The increase in unit growth in the anti-diabetic segment was primarily attributed to the entry of branded generics into the market due to patent expirations. This provided patients with more affordable options, leading to increased sales.
The growth in the September 2024 quarter was primarily driven by price increases, with minimal contribution from volume growth.
Also Read: Indian Pharma Market soars with 9.5 percent growth in January 2024: Pharmarack Report
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.