Chronic Ailments Fuel Indian Pharma Growth in November 2024

The Indian pharmaceutical market showed significant recovery, demonstrating solid growth in major therapeutic fields such as dermatology, respiratory therapies, cardiac treatment, and pain relief in November. As per IQVIA's most recent Market Reflection Report, the Total Sales Audit (TSA) for the Indian Pharmaceutical Market (IPM) amounted to Rs 19,926 crore for the month, indicating a 10.7% increase compared to the previous year. Likewise, the Secondary Sales Audit (SSA) reached Rs 16,903 crore, marking a 10.8% rise in comparison to the equivalent period from the previous year.

Important therapeutic sectors played a crucial role in boosting the market's rebound in November. Urology led the rankings with an 18% growth, indicating a rising demand for therapies in this area. Dermatology closely trailed, expanding by 16%, supported by increased sales of emollients (21%) and sunscreens (24%). Cardiac and pain management medications both exhibited a 13% rise, bolstered by advanced treatments such as Sacubitril + Valsartan (26% growth in cardiac) and paracetamol-based products for pain relief.

Respiratory therapies greatly benefited from the deteriorating air pollution nationwide, as medications such as Foracort and Budecort met increased patient demands. Both acute treatments for temporary conditions like infections and chronic treatments for enduring illnesses such as diabetes and cardiovascular diseases demonstrated an 11% increase.

In respiratory therapy, Cold Preparation Ethicals rose to be the top-performing subgroup, generating sales of Rs 265 crore. In the pain management sector, paracetamol in oral solid forms, injections, and liquid formats together produced Rs 189 crore, experiencing growth rates of 2%, 29%, and 6% respectively.