Indian Pharma Market Sees 8.7% Growth in January 2025, But Vaccines, Ophthalmology Struggle
New Delhi: The Indian pharmaceutical market (IPM) recorded an 8.7% year-on-year (YoY) growth in January 2025, reaching a monthly value of Rs 19,238 crore. This growth was slightly higher than the 8.3% YoY growth observed in the moving annual total (MAT) for January 2025, which stood at Rs 2,22,996 crore. In terms of volume, the industry grew by 2.4% in January 2025, highlighting sustained demand across multiple therapy areas, according to market research firm Pharmarack.
Among the key therapy segments, cardiac drugs emerged as the top performer, growing 11.2% YoY in MAT and 10.2% in January 2025 alone, contributing Rs 2,686 crore to the industry. Gastrointestinal drugs followed closely, achieving a 10.9% growth in January 2025 and contributing Rs 2,218 crore, with an overall MAT growth of 10.0%. The anti-diabetic segment also continued its upward trend, growing 6.9% in January 2025 to reach Rs1,773 crore, with an 8.4% YoY growth in MAT. Meanwhile, the respiratory segment showed only a 2.6% growth in January 2025, contributing Rs 1,638 crore, likely due to lower seasonal demand. On the other hand, dermatology and anti-neoplastic drugs performed strongly, with 10.1% and 11.3% growth respectively in January 2025. However, vaccines and ophthalmological drugs witnessed negative trends, declining by 12.8% and 8.6% respectively.
In terms of quarterly performance, IPM recorded 8.55% growth in Q4 FY24 (ending January 2025), marking an improvement from 6.19% growth in the previous quarter. This increase was driven by price growth (5.4%), new product launches (2.5%), and a marginal volume growth (0.7%). The steady rise in drug prices and the introduction of new formulations contributed significantly to the market’s expansion.
Among pharmaceutical companies, Sun Pharma (including Ranbaxy) maintained its top position with 12.7% growth, followed by Abbott (including Novo Nordisk) at 7.5% growth and Mankind Pharma (including Bharat Serums) at 8.2% growth. Cipla and Alkem Laboratories also showed strong performances, growing 7.5% and 9.5% respectively. These companies continue to dominate the market due to their strong portfolios in chronic therapies, generic medicines, and new product innovations.
The top-selling drug brands in January 2025 included Augmentin (GSK) at Rs 825 crore, followed by Glycomet GP (USV) at Rs 797 crore, and Mixtard (Abbott) at Rs 776 crore. Pan (Alkem) and Foracort (Cipla) also secured significant market shares, with Rs 750 crore and Rs 724 crore in sales, respectively. Notably, Liv.52 (Himalaya) recorded a 15.3% growth, while Electral (FDC) surged by 29.1%, reflecting strong demand for nutraceutical and electrolyte-based products.
Industry experts anticipate continued growth in the coming months, driven by increasing demand for chronic therapies such as cardiac, diabetes, and neurology, along with advancements in oncology and biologics
