By: IPP Bureau
Last updated : January 12, 2022 9:56 am
Ind-Ra expects revenue growth of over 12% in 2022.
India Ratings and Research (Ind-Ra) opines the 5.3% YoY revenue growth in India’s pharmaceutical market (IPM) during December 2021 was led by a continued improvement in growth in chronic therapies namely cardiac and central nervous system (CNS), while anti-infectives witnessed a decline. Acute therapies namely gastrointestinal, respiratory and pain/analgesics continued to witness strong growth, aided by the low base impact. During December 2021, volumes declined 1.5% YoY (November 2021: flat YoY), while price growth was 5.4% YoY (5.4% YoY) and new products launches were up 1.4% YoY (1.2% YoY), driven by acute therapy products.
Ind-Ra expects the demand for analgesics, multivitamins, and cough and cold segments to improve over the next three months, owing to seasonality and the third wave of Covid-19 infections. Ind-Ra expects IPM revenue growth of over 12% YoY for FY22. The IPM reported a growth of 14.9% YoY in 2021.
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Base Effect Continues to Impact Therapy Growth Trends |
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|
Therapies/Month |
December 2021 |
November 2021 |
October 2021 |
September 2021 |
December 2020 |
November 2020 |
October 2020 |
September 2020 |
|
Respiratory |
22 |
16 |
26 |
46 |
-8 |
-7 |
-6 |
-10 |
|
Pain/analgesics |
14 |
17 |
17 |
28 |
6 |
-5 |
3 |
-4 |
|
Gastro |
9 |
13 |
10 |
16 |
16 |
3 |
14 |
6 |
|
Vitamins |
1 |
1 |
-4 |
2 |
14 |
7 |
23 |
16 |
|
Ophthalmology |
14 |
15 |
6 |
14 |
-2 |
-11 |
0 |
-5 |
|
IPM |
5 |
7 |
5 |
13 |
9 |
1 |
10 |
5 |
|
Source: AIOCD, Ind-Ra |
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Therapy-wise Performance: Acute therapies such as gastro, respiratory and pain/analgesics witnessed sales growth of 9.2% YoY, 21.7% YoY and 13.5% YoY, respectively. Growth momentum declined in chronic therapies during the month, with cardiac growing 4.1% YoY (November 2021: 6.3%) and anti-diabetic reporting 1.3% YoY growth.
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|
(Growth, %) |
% IPM |
FY21 |
FY20 |
FY19 |
FY18 |
FY17 |
|
Cardiac |
14 |
11 |
12 |
13 |
6 |
11 |
|
Anti-infective |
13 |
-5 |
10 |
6 |
1 |
4 |
|
Gastro intestinal |
11 |
5 |
8 |
9 |
6 |
10 |
|
Anti-diabetic |
10 |
6 |
11 |
15 |
12 |
19 |
|
Vitamins |
9 |
8 |
9 |
9 |
4 |
10 |
|
Respiratory |
7 |
-9 |
13 |
8 |
8 |
9 |
|
Analgesics |
7 |
-3 |
10 |
8 |
4 |
10 |
|
CNS |
6 |
5 |
9 |
10 |
6 |
10 |
|
Derma |
7 |
3 |
7 |
11 |
10 |
12 |
|
Gynaecological |
5 |
-1 |
6 |
9 |
4 |
11 |
|
IPM |
|
2 |
10 |
10 |
6 |
10 |
|
Source: AIOCD, Ind-Ra |
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