Strategic Pricing Drives Indian Pharma Market to Rs 19,388 Crore Growth

The Indian Pharmaceutical Market experienced significant growth, reaching Rs 19,388 crore in November 2024. Strategic pricing played a crucial role in this increase, as several therapies saw price rises. Chronic therapy areas, especially cardiac and anti-diabetic medications, experienced consistent growth driven by the rising emphasis on lifestyle-related illnesses.

Acute treatments such as anti-infectives and dermatological therapies played a role as well, but their effect was less pronounced relative to chronic treatments. Nonetheless, the growth in market volume continues to be inconsistent. While some areas, like gastrointestinal and urology treatments, showed recovery with encouraging volume growth, other sectors encountered difficulties. The vaccines sector, for instance, saw a significant -37.8% drop in unit growth, along with a -13.6% reduction in value growth, indicating difficulties in this area.

Data related to therapy indicated diverse impacts on the monthly increase. Cardiac treatments held a dominant position with 13.2% of the market share, increasing by 11.7% in value and 1.8% in units. Gastrointestinal treatments were next, making up 11.4% of the market with a 11.0% increase in value and a greater unit growth of 6.8%.

In spite of these encouraging outcomes, the IPM faces challenges like variable demand for particular therapies and the necessity for ongoing innovation to stay competitive. The overall market expansion in November 2024 showcases a varied scenario, featuring strong advances in certain sectors while facing challenges in others.