The Indian pharmaceutical market exhibited a robust growth of 8.8% in June 2024, fueled by positive value growth across all major therapies. According to the market research firm Pharmarack, respiratory, anti-infectives, and gastrointestinal therapies experienced notable growth rates of 19.2%, 17.2%, and 10.7%, respectively. This expansion is driven by new introductions, price-based growth, and volume increases. The moving annual turnover (MAT) for the Indian Pharmaceutical Market (IPM) from July 2023 to June 2024 reached 7.6%, amounting to over Rs. 2 trillion (US$ 24.01 billion).
Notably, leading therapies such as cardiac, anti-infectives, and gastrointestinal showed strong MAT growth, with volume growth rates of 9%, 8.7%, and 8.4%, respectively. These three therapy areas account for around 38% of the IPM. Major market players, including Fourrts, FDC, Aristo, Cipla, and Glenmark, reported significant monthly value growth, with GSK’s Augmentin and USV’s Glycomet GP being the top-selling brands. The growth trend is anticipated to continue, driven by the rising demand for quality healthcare products in India.
