Indian Pharma Market Sees Moderate Revenue Rise In May Despite Volume Decline

The Indian pharmaceutical market delivered a moderate rise in revenue of 5.2% year-on-year in May as volume declined 3.3%.

The pharma market reported a healthy growth at an average of 9% year-on-year between December 2023 and April 2024. There was lower growth in therapies like gastrointestinal, anti-diabetic, vitamins, pain management, derma, central nervous system and gynaecology, according to the All India Organisation of Chemists and Druggists.

Anti-infectives and respiratory therapy delivered double-digit growth. Price and new launches drove the overall pharma market performance in India in May, rising 6% and 2.6% respectively.

India Ratings and Research expects the IPM growth to be at 8–9% the current financial year against 6.5% in fiscal 2024 and 9.9% in fiscal 2023, Krishnanath Munde, associate director at India Ratings, told NDTV Profit.

• Volume declined 3.3%, as against 0.8% in May 2023.

• Price growth of 6% in May 2024.

• New launches increased 2.6%, as compared with 2.9% in May 2023.

• There was lower growth in therapies like gastrointestinal, which grew 4.7%. Anti-diabetic grew 4.8% and derma grew 4.2%.

• Anti-infectives and respiratory therapy delivered double-digit growth.

The moving annual total—or the 12-month rolling sales of overall pharma products—increased 7.3% in May.