Pharma market picks up pace, sees 10% value growth in Nov

New Delhi: The Indian pharmaceutical market (IPM) recorded a growth of 9.9% in value and 3.1% by volume in November, according to data released by market research firm Pharmarack.

After a weak performance in terms of volume growth for four months, November turned out to be a positive month for the sector, indicating a pickup in demand across key therapy areas in the acute and chronic segments, showed Pharmarack data.

"Cardiac, gastro, anti-diabetes and derma have shown robust growth above the IPM growth of 9.9%," said Sheetal Sapale, vice-president-commercial at the research firm. "Except for a few, all the top therapies have shown positive volume growth... Unit growth for a few therapies also is encouraging," she added.

Sales of antineoplastics, or cancer drugs, recorded the fastest growth in terms of volume at 11.8% in November. The dermatology and urology segments saw unit growth of 8.3% and 8.9%, respectively. "Price and new introductions are the more dominating growth drivers," Sapale said.

The moving annual turnover-sales for 12 months through November-of leading therapy areas such as cardiac, gastrointestinal and anti-infectives, which constitute around 38% of the IPM, expanded 12%, 13% and 12%, respectively. The IPM, meanwhile, increased by 8%.

Pharma major GlaxoSmithKline's antibiotic drug Augmentin and USV's Glycomet GP continue to retain their leadership position with sales of ₹77 crore and ₹68 crore, respectively.

Sapale said the domestic pharma market showed recovery in November and that the growth should stabilise now.

Demand has gone up and consumption has increased in the anti-infectives and gastrointestinal segments. This could be due to cough, cold and other seasonal ailments going up, she added.