As the August data shows, the Indian pharmaceutical market (IPM) is growing at a strong pace. The market has registered a year-on-year growth of 17.7 per cent in August as compared to 13.7 per cent in July. Notably, the run rate is now much better than that seen in FY21.
The rebound in the acute segment has helped in the growth of the pharma market in the older segment.
India Ratings and Research said the 17.7% year-on-year revenue growth in IPM during August was driven by improvement in sales across the portfolio of non-COVID products, even as COVID product sales continued to gain traction.
In the segment, respiratory care led the pack, registering a growth of 38.2% during August. The pickup in the segment bodes well for companies like Cipla Ltd which offer a wide range of respiratory products. The respiratory segment witnessed a year-on-year growth of 22.8% in July.
Analgesics and anti-infectives registered an increase of 32.4% and 29.2%, respectively. Data from Motilal Oswal Financial Services Ltd showed that a 5.8% increase in prices and a 3.5% increase in new product launches helped volumes grow by 5.9%.
On a three-month average, industry growth stood at 14.5% year-on-year. Treatments that have led this growth include anti-infections, vitamins and minerals, and gastrointestinal medications. Sales for these grew by 25.4%, 21.6% and 20%, respectively. Analgesics were also affected, with an increase of 15.6 percent.
Ipca Laboratories Ltd led the pack of companies with a strong growth of 38.5% in August, followed by Aristo Pharmaceuticals (34%), FDC (33.6%), Indoco Remedies (33%), Ajanta Pharma (31.7%), McLeods Pharmaceuticals (28.8%), and Mankind Pharma (27.1%).
At the three-month moving average, Glenmark Ltd., Cipla Ltd. and Alkem Laboratories Ltd. were among the listed entities that continued to lead with growth of 28.9%, 19.8% and 18.6% respectively.
India Ratings expects IPM revenue to grow by over 12% in FY12.
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