Indian Pharma Market Reached Rs 2,21,425 Crore in 2024: PharmaTrac
New Delhi: The Indian Pharmaceutical Market (IPM) witnessed significant progress in December 2024, registering a 7.7% growth in value and a 1.1% increase in unit sales compared to the previous year. Annual growth for IPM reached 8.3%, valued at Rs 2,21,425 crore, according to data from AIOCD-AWACS.
The Cardiac segment led the market, contributing 13% of total sales with an 11.8% annual growth and Rs 29,656 crore in value. Gastrointestinal therapies followed closely with a 9.7% increase, contributing Rs 26,628 crore. Anti-Diabetics recorded a robust 8.7% growth, valued at Rs 20,349 crore. Dermatology emerged as a strong performer, growing by 12.8% (Rs 14,169 crore), while Urology saw the highest growth rate of 14.2% (Rs 3,531 crore).
Conversely, the Respiratory segment recorded marginal growth (0.7%) with a decline in unit sales (-6.5%). Vaccines experienced the sharpest decline, dropping by 16.1% in value and 26.2% in unit growth.
Also Read: Indian Pharma Market Grows at 9.9%, Vaccine Sales See Sharp Decline: Pharmatrac Report
Sun Pharma + Ranbaxy led the corporate rankings in December 2024, recording Rs 18,067 crore in sales with a robust 12.8% growth. Abbott, Cipla, and Alkem followed closely, demonstrating strong performances across chronic and acute therapy segments.
As per the PharmaTrac MAT December 2024 report, Augmentin (GSK) topped the brand performance rankings with Rs 824 crore in sales, including Rs 783 crore actual value and Rs 41 crore bonus value, growing by 9.9%. Glycomet GP (USV) followed with Rs 800 crore in sales, of which Rs 784 crore was actual and Rs 16 crore bonus value, showing a 4.5% growth. Mixtard (Abbott) ranked third at Rs 770 crore, including Rs 766 crore actual value, growing 6.9%. Pan (Alkem) recorded Rs 745 crore sales with 11.6% growth and Foracort at Rs 726 crore with 4.9% growth. Liv.52 (Himalaya) showed the highest growth of 16.2%, reaching Rs 702 crore.
New entrants like Monocef contributed Rs 652 crore, while Electral posted exceptional growth at Rs 443 crore with a 29.6% increase.
Also Read: GSK's Augmentin Leads Indian Pharma Market in October with Rs 843 Crore Sales: Pharmatrac Report
