Indian Pharma Market growth stable in August 2021

Post normalisation of high growth months of April and May this year the average IPM growth from June to August this year stood at 15.2 % YoY : Ind-Ra reports

The Indian Pharmaceutical Market (IPM) delivered robust sales growth of 17.7% in August 2021 (July 2021: 13.7%). The acute therapy segment’s sales grew around 17% YoY in August 2021 (July 2021: 20.3%) on a low base while the chronic therapy segment’s sales rose about 12.5% YoY (8.3%). These are the highlights of the India Ratings and Research (Ind-Ra), report.

Post normalisation of the high growth months of April 2021 (51.5% growth) and May 2021 (47.8%) led by the lockdown related lower base last year and higher volume growth, the average IPM growth from June to August 2021 stood at 15.2% YoY. In terms of growth drivers, the price growth, new product launches growth and volume growth stood at 9.0%, 5.9% and 2.9% YoY, respectively, which led to an overall IPM size of INR1,632 billion in August 2021 (July 2021: INR1,610 billion).

Strong Growth in Acute Therapies, albeit at a lower rate; Chronic Therapies grew higher: The acute therapy segment reported sales growth of 16.9% YoY (July 2021: 20.3% YoY; June 2021: 20.6% YoY), while chronic and sub-chronic therapy segments reported stable growth at 10.8% YoY (6.4% YoY; 7.8% YoY) and 15.3% YoY (11.3%; 11.2%), respectively, in August 2021. During FY21, Ind-Ra highlights that the acute therapy segment reported negative growth on account of Covid-19 while the chronic therapy segment reported average growth of 7.0% in the same period.

Top Five Therapies Contribution stood at 58% of IPM: These therapies are cardiac (chronic; 13.2% of IPM), anti-infectives (acute; 14.3%), gastro-intestinal (acute; 11.5%), anti-diabetic (chronic; 9.5%) and vitamins (acute; 9.2%).