By: IPP Bureau
Last updated : September 07, 2021 11:05 am
Ind-Ra expects IPM revenue to grow over 12% YoY in FY22
The improvement in the revenue growth of the Indian Pharmaceutical Market (IPM), in August 2021 can be attributed to the increase in sales in the non-Covid product portfolio while sales traction for Covid-19 products continued. There has been a 17.7 per cent YoY revenue growth compared to the same period last year according to a research report by India Ratings and Research (Ind-Ra).
The Covid-19 influence portfolio contributed 37% to IPM for moving annual total (MAT) July 2021. Acute therapies namely anti-infectives, gastrointestinal, respiratory and pain/analgesics continued to witness strong growth, aided by the low base impact. During August 2021, volumes grew 9.0% YoY (July 2021: 4.5% YoY), while price growth was 5.9% (5.7%) and new product launches were 2.9% (3.5%), driven by acute therapy products.
Ind-Ra expects IPM revenue to grow over 12% YoY in FY22.
Historical Growth Trends of Key Therapies
|
Figure 5 |
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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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Company-wise Performance: During MAT August 2021, Cipla, Glenmark and Emcure significantly outperformed the market, with YoY growth of 19.8%, 28.9% and 27.8%, respectively. This was led by higher sales of Covid-19 related products and the continued outperformance of chronic therapies.