The Indian pharma market has clocked a growth of 16.4% in the month of April. For the period of 12 months ended April, the domestic drug market grew by 18.4%, according to pharma market research agency Aiocd Awacs.
Among the top 10 drug firms by market share, those which witnessed a higher growth rate than the industry growth rate are GSK (24%), Zydus Cadila (18.8%), Alkem(19%), Mankind (20%) and Pfizer (27.8%). Ranbaxy has grown in line with the industry growth for the month at 18.2%.
In April alone, the growth of Cipla and Sun Pharma hovered around the range of 17.5% while those of Abbott, the leader in market share, is in the range of 13-16%. The growth of Dr Reddy?s Laboratories, the largest domestic drug firm by turnover, in the domestic market for the month lags at slightly over 9%. This is sluggish compared to its peers in the top 25 league, all of whom have grown in double digits at a rate of over 13%.
After an analysis of top 50 players, Hari Natarajan, head, pharma trac, Aiocd Awacs, said most companies having a dominant cardiac and diabetes portfolio have shown significantly good growth. Anti-diabetic therapy continues to lead among all therapies. Anti-diabetics as a therapy logged a 29% growth helping Danish firm Novo Nordisk, the leader in human insulin, post the highest rate of growth among the top fifty drug firms at over 46%.
Diabetics are followed by anti-neoplastics (chemotherapy agents), which grew at around 26%. The total pharma market reached a size of R63,747 crore for the period of 12 months ended April. While Abbott is the market share leader commanding 5.99% of the total pharma pie, Cipla comes second with a share of 5.23%.