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.
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