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.
GSK's antibiotic drug Augmentin has emerged as the highest selling brand in March with 28.6 percent growth at Rs 175 crore in the domestic pharma retail market. Augmentin, a combination of amoxicillin and clavulanic acid popped with increased viral infections lately.
Second rank among top selling brands for the month was grabbed by Manforce by Mankind, followed by Glycomet GP by USV. Foracort by Cipla, Mixtard by Abbott and Betadine by win-Medicare was placed at the fourth, fifth and sixth position in March, the latest data culled from Pharmatrac said.
Meanwhile, brands like Zincovit, Clavam slipped out of top twenty brands group.
An insight of quarterly growth driver shows new product grew 2.4 percent in March against December quarter's growth at 2.1 percent. Price growth was registered at 5.7 percent and volume growth at 2.9 for the said month against 6.6 percent price growth and 2.9 percent volume growth in December.
Also Read: Indian Pharma Market Sees 12.1 Percent Growth In August: AIOCD-AWACS Report
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