Pharmaceutical market reports strong growth in April: Ind-Ra

According to India Ratings and Research (Ind-Ra), the increase of 51.5% YoY in India's pharmaceutical market in April 2021 was driven by a low base effect, as the market dropped by 10.2% in April 2020 due to the COVID-19 imposed lockdown. According to the report, adjusted growth would have been higher.

Acute therapies, such as vitamin therapies and anti-infective, benefitted greatly from the second COVID-19 wave, as these therapies play a significant role in both a direct and indirect treatment of patients.

According to Ind-Ra, the growth in acute therapy was also assisted by a low base in April 2020. Volumes increased by 34.5% YoY in April 2021, prices increased by 7%, and product launches increased by 10%, all of which were associated to acute therapy products. In FY22, Ind-Ra forecasts market growth of 8-10% YoY.

Acute therapies such as anti-infectives, analgesics, and vitamins grew by 134.4%, 64.2%, and 75.8%, respectively, while gastro increased by 56.8%. In April 2021, chronic therapies grew at a slower rate, with cardiac and anti-diabetic therapies growing at a rate of 26.9% and 13.1%, respectively.

According to Ind-Ra, on a moving average total March 2021 basis, these therapies outperformed on growth.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.