Market research firm Pharmatrac has revealed that India’s pharmaceutical market registered a robust growth of 9.5 percent month-on-month in March. The report also highlights that the performance of all therapeutic areas has been good.
The Pharmatrac data also showed that Cardiology and anti-infectives continued to be the top two therapy areas.
“The Indian pharmaceutical market (IPM) for the month of March has a very robust growth of around 9.5% which is quite encouraging with the majority of therapies showing a positive value growth except the respiratory. Price growth continues to be positive whereas volume growth is negligible for the month of March,” said Sheetal Sapale, VP, commercial, Pharmarack as quoted by multiple media outlets.
In March 2024, the Indian pharmaceutical market (IPM) recorded sales of about Rs 16,158 crore with a positive value growth, the report revealed. It also stated that the market has enumerated Rs 197,976 crore with 6.5 percent value growth on a Moving Annual Total (MAT) basis.
According to the report, cardiac, anti-infectives, dermatology, neurology, neoplastic and vaccines are among the top performers who have shown a double-digit value growth in March.
Meanwhile, companies like Fourrts (21.1 per cent), Corona (20.3 per cent), Cadila (15.3 per cent), and Alkem (15.1 per cent) posted significant monthly value growth in March 2024.
The report also revealed that GSK’s antibiotic drug Augmentin and USV’s anti-diabetic drug Glycomet GP continued to be the top-selling medicine brands with sales figures of Rs 730 million and Rs 590 million respectively, it stated.
