New Delhi, Sep 12
Driven by cardiac, antimalarial, and gastrointestinal therapies the Indian pharmaceutical market has seen more than 6 per cent growth in the month of August, according to a report.
The report by market research firm Pharmarack showed that the pharma market growth surged as these therapies registered nearly double-digit value growth.
While cardiac and antimalarial therapies saw the highest growth (9.7 per cent), it was followed by gastrointestinal therapies which registered 8.7 per cent growth.
Sheetal Sapale, vice-president (commercial) at Pharmarack attributed the market growth for August month to new introductions and price growth.
Growth in the moving annual turnover (MAT, which is the previous 12 months’ turnover) for the pharma market between August 2023 and July 2024 stood at 7.7 per cent, leading to a total turnover of over Rs 2.04 trillion in IPM. However, volumes in the domestic market went down by 0.2 per cent.
Further, the report also showed robust volume growth in MAT of leading therapy areas such as anti-infectives, cardiac, and gastrointestinal. Together these therapies account for 38 per cent of the Indian pharma market.