Indian pharma market registers 7.9 percent growth in July: Report

As per the report, Semaglutide and Tirzepatide continue to drive the growth of this market.

While Semaglutide is marketed as Rybelsus (oral), Wegovy (injections), Tirzepatide is sold under the brand Mounjaro. Both injectable medications are used to treat type 2 diabetes and promote weight loss.

“A strong upward momentum is seen for the month of July. This may be due to aggressive promotion of both the new launch brands in the market,” Sapale said.

Although the launch of Tirzepatide had impacted Semaglutide (Rybelsus), “we see Wegovy bringing back the molecule on a strong sales momentum,” Sapale said.

Further, the report also focused on strategic areas that drive exponential growth in the Indian pharma industry. This includes biologics and biosimilars, which are changing the canvas of the Indian pharma market.

“The biosimilars market is about Rs 3,900 Crore market today, growing at a five-year CAGR of 15 per cent,” Sapale said.

“With the changing landscape of disease patterns and associated complications, Biologics and Biosimilars play a critical role in the Indian pharma market,” Sapale added.