The market for GLP-1, popular drugs used to treat obesity and diabetes, is entering a stable phase after a brief period of explosive growth with monthly sales rising only marginally to Rs 247 crore in August from Rs 245 crore in July, according to the latest report by Pharmarack.
The initial surge for weight-loss drugs began early this year after Novo Nordisk’s patent for semaglutide expired in India (in March), triggering a flood of lower-cost generic versions. Monthly GLP-1 sales rose to Rs 218 crore in April from Rs 180 crore in March, and further to Rs 236 crore in May. However, the latest figures indicate that this explosive growth trajectory is now settling into a steadier growth rate.
A clear shift in patient preference toward injectable formulations has also emerged across the country. Monthly sales of injectable semaglutide rose to Rs 76 crore, up from Rs 73 crore in the prior month. In contrast, demand for oral semaglutide saw a slight decline, dropping from Rs 31 crore to Rs 29 crore over the corresponding period.
Despite dozens of generic injectable options available in the market, the segment remains heavily concentrated among top-tier manufacturers. Out of 33 generic injectable brands currently available to domestic consumers, a small group of just 11 brands commands 80% of all generic unit sales. Meanwhile, innovator brands continue to demonstrate strong resilience, retaining loyal patient bases despite the price pressure from generic competitors.
Experts said that the initial sales boom driven by the launch of affordable generic options is beginning to taper off, and the future growth in the category will depend on expanding the overall patient pool and convincing existing patients to transition to advanced injectable formulations.
While semaglutide generated major interest due to generic entry, tirzepatide – the active ingredient in Eli Lilly’s once-weekly injection Mounjaro – continues to dominate the overall category. Over the past 12 months, Mounjaro generated Rs 1,256 crore in revenue, accounting for roughly 54% of the entire Rs 2,333-crore domestic GLP-1 market.
Monthly sales of tirzepatide have generally trended higher this year – rising from Rs 114 crore earlier in March to Rs 142 crore in August, maintaining its position as the single highest-selling pharma product across the country. The stabilisation of the GLP-1 category comes alongside broader trends across the Indian pharma market which expanded by 10.7% in overall value despite nearly-flat unit growth.
Over the 12 months to August, the domestic pharma market registered sales of Rs 2.59 lakh crore. Pharmarack data showed that price increases and new product launches contributed more to market growth than higher sales volumes.