Indian Pharma Market reaches Rs 19,083 crore in December, Check out top performing brands

On a moving annual total (MAT) basis, the market reached Rs 2,21,425 crore, reflecting an 8.27% year-over-year growth and a compound annual growth rate (CAGR) of 10.09%, underscoring the sector's sustained expansion.

Several therapeutic areas contributed significantly to this growth. Gastrointestinal, anti-diabetic, derma, anti-neoplastics, ophthalmology, urology, hormones, stomatologicals, and anti-malarials demonstrated notable growth in sales value and volume. Additionally, sectors like cardiac, blood-related, vaccines, and sex stimulants/rejuvenators outpaced the overall market in value growth. The overall market growth of 7.6% in December 2024 was primarily driven by price increases and new introductions (NI).

As per the report, price hikes accounted for nearly 70% of the market's growth, with gastrointestinal therapies leading the way (6.4%), followed by cardiac, respiratory, and derma categories. New product launches also played a key role, with sectors like anti-diabetic, vitamins/minerals/nutrients, neuro/CNS, derma, anti-neoplastics, urology, and hormones exhibiting above-average growth from new introductions. Stomatologicals and blood-related therapies recorded the highest number of new products in December.

Growth was geographically diverse, with the East zone leading with a 12.7% value growth. The North Zone saw significant contributions from Uttar Pradesh and Uttarakhand. In the West Zone, MP & Chhattisgarh, Pune & South Maharashtra, and Mumbai MMR played a key role. The South Zone witnessed robust performances in Andhra Pradesh, Karnataka, and Tamil Nadu, while Odisha was a notable contributor in the East Zone.

The acute segment, representing ~46% of the IPM, contributed Rs 8,729 crore in December 2024, with a value growth of 6.8% and an incremental value addition of Rs 557 crore. Sun Pharma maintained market leadership, while Emcure and Torrent advanced to 10th and 16th positions, respectively. Top performers included Alkem, Aristo, Intas, Torrent, Cipla, and FDC, all achieving double-digit growth. Prominent brands like Clavam, Pan D, Udiliv, and Monocef significantly outperformed the segment’s average growth.

Accounting for ~34% of the market, the chronic segment recorded Rs 6,410 crore in December 2024, with an 8.4% value growth and an incremental addition of Rs 496 crore. Macleods climbed to 10th position, overtaking competitors, while Micro Labs advanced two ranks to 12th. Other major gainers included JB Chemicals, Aristo, and Ipca, rising to 17th, 18th, and 19th positions, respectively. Brands such as Mixtard, Ryzodeg, Thyronorm, Rybelsus, and Ecosprin AV drove strong growth in this category.

The sub-chronic segment, contributing 20% to the IPM, achieved sales of Rs 3,875 crore in December 2024, reflecting an 8% value growth. Alkem ascended to the 3rd position, outperforming competitors, while Dr. Reddy’s rose to 9th place. Cipla climbed two ranks to 10th, and companies like Nutricia, Aristo, and La Renon also demonstrated upward momentum. Standouts included Wockhardt, Ajanta, KLM, and RPG, which gained three or more ranks.

Top-performing companies in December 2024 included Sun Pharma, Alkem, Torrent, and Cipla, excelling across multiple therapeutic areas. Sun Pharma led in cardiac, anti-infective, and respiratory therapies, while Abbott dominated in anti-diabetic and gastrointestinal segments. Other notable performers included Emcure, Macleods, and Mankind.

New product launches were a key growth driver, with 5,082 new SKUs contributing Rs 2,726 crore (1.23% of MAT). In December 2024 alone, 240 new SKUs were introduced, accounting for 2.12% of total sales. Key therapeutic areas for new launches included dermatology, anti-diabetic, and cardiac therapies. Among the newly launched products, 22 brands surpassed Rs 1 crore in sales, contributing 23.1% of the monthly value from new introductions.