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Indian Pharma Market grows at 6.8 percent in October, Chronic Therapies Dominate: IQVIA

Farhat NasimWritten by Farhat Nasim Published On 2024-11-19T18:19:20+05:30  |  Updated On 19 Nov 2024 6:19 PM IST
Shilpa Pharma Lifesciences receives CEP from EDQM for API, Teriflunomide
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New Delhi: The Indian Pharmaceutical Market (IPM) experienced a significant 6.8% increase in Total Sales Audit (TSA) over the 12-month period ending in October 2024, reaching a total of Rs 226,217 crore, according to the IQVIA Market Reflection Report for October 2024.

As per the report, chronic therapies have been the main growth driver, recording a 10% rise compared to acute therapies, which grew by 2%, signaling a shift toward long-term health management products. Robust innovation and product launches across the sector contributed in the growth as well.

The Total Sales Audit (TSA) and Secondary Sales Audit (SSA) figures underline the market's steady growth trajectory. TSA reached Rs 226,217 Cr for the year ending October 2024, reflecting a growth rate of 6.8%, while SSA stood at Rs 190,940 Cr, growing by 6.7%. In October alone, TSA was valued at Rs 19,957 Cr with a growth rate of 5.0%, and SSA at Rs 16,843 Cr, marking a 4.5% increase over the same period last year.

Therapeutic areas such as cardiac care and anti-diabetics were key contributors to the market's expansion. Cardiac care, powered by drugs like Sacubitril + Valsartan, showed significant momentum, while the anti-diabetic segment led by Glimepiride + Metformin posted Rs 291 Cr in sales. Gastrointestinal therapies also performed well, with Esomeprazole + Domperidone showing a notable 29% growth. On the other hand, respiratory and pain therapies faced declines across most subcategories, except for specific combinations like Formoterol + Budesonide, which held steady.

Also Read: IQVIA Gets CDSCO Panel Nod to Study Antipsychotic drug Lumateperone

Top brands showcased significant growth stories. Foracort, leading with Rs 75 Cr in October 2024, retained its top position. Noteworthy growth stories include Pan-D, which grew by 20% to secure its place among the top 10, and Influvac, which experienced a staggering 89% growth, climbing 29 ranks.

Companies, too, showcased strategic growth trajectories. Sun Pharma maintained its dominance with an 8% market share, while Torrent and Glenmark improved their rankings in TSA. Emerging players like Hetero and P&G Health saw significant improvements in the SSA rankings, reflecting the sector's growing diversity and competitive intensity.

The report also highlights an active innovation pipeline, with 698 new packs introduced in October 2024 alone. Additionally, the 70 brand transfers during this period signal ongoing consolidation and repositioning efforts by companies to strengthen their market presence.

indian pharma marketiqvia reportoctober 2024total sales auditsun pharmapan-dinfluvacheterop&g healthglenmarktorrentforacortglimepiridemetforminsacubitrilvalsartanesomeprazoledomperidoneformoterolbudesonidepan-d growthinfluvac growth
Farhat Nasim
Farhat Nasim

    Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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