Indian pharma market registers 13 percent growth in March: AWACS Pharmatrac Report
New Delhi: The Indian Pharmaceutical Market (IPM) saw significant growth of 13.0 percent in terms of value and 9.5 percent in terms of units at Rs 14633 crores, in the month of March, 2023, says market research firm All India Organization of Chemists and Druggists (AIOCD-AWACS).
With COVID-related disruption creating a whole new set of launch readiness and market access environment new pharmaceutical trends for 2023 is likely to be mapped out and the sector is anticipated to reach USD 1.5 trillion.
Coming to the Indian pharma industry performance, as reported by Pharma Trac, Sun Pharma plus Ranbaxy remained the market leader in March with nearly 8.2% market share (with bonus units at full value). Among therapies, respiratory registered the highest value growth of 49.7%, followed by 32.4% by anti-infectives, mirroring the disease trend across the country. Meanwhile, stomatologicals stood third in the list with 29.7 percent growth for March.
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