look news india
New Delhi: The Indian pharmaceuticals market grew 8.8 per cent in June. According to market research firm Pharmarec, prices of all major treatments have seen positive growth during this period. Key treatments in the medical sector such as respiratory (19.2 per cent) and anti-infectives (17.2 per cent) saw double-digit price growth in June this year.
Regarding the reason for the price increase in specific therapy areas, Pharmarec said that most therapy areas have seen positive price growth. Some treatments with higher growth rates this year have seen seasonal increases, usually in the second half after June.
All three categories of the pharmaceuticals market, namely new launches, value-led growth and volume growth, have witnessed positive growth, resulting in overall value growth of 8.8 per cent in June this year, as against 6 per cent in June last year.
Between July 2023 and June 2024, the moving average annual turnover (MAT, which is the turnover of the last 12 months) of the pharmaceuticals market grew by 7.6 per cent, taking the total turnover of the pharmaceuticals market to a little over Rs 2 lakh crore, while volumes in the domestic market declined by 0.1 per cent.
The growing annual turnover of key therapeutics such as cardiac, anti-infective, gastro-intestinal recorded relatively strong growth of 9 per cent, 8.7 per cent and 8.4 per cent respectively. These three therapeutic areas together account for about 38 per cent of the pharmaceuticals market.
