The organised domestic pharma market witnessed a revival in July, with sales nearly doubling to 17%. The expansion was boosted by strong double-digit sales of anti-infectives, in the wake of a robust monsoon. The market had witnessed a growth of sub 9% in May and June, with volumes slowing down over the past few months. Though the market seems to have revived in July, growth is expected to be only around 9-10% during the coming months, experts say.
Growth in anti-infectives was robust at 27% year-on-year, a reflection of an increased offtake driven by monsoons, according to healthcare service provider IQVIA. Acute therapies accounted for 65% of pharma retail market, and outgrew chronic growth during the month, the data said. Overall, the value of pharma market stood at around Rs 1.4 lakh crore, while the moving annual total (MAT) growth is healthy at 10% year-on-year
Expansion had been muted earlier this year due to multiple factors, including increasing use of low-cost generics, and lower sales in the acute segment. While some feel the volume dip earlier in May seems more like a blip, the slowdown has perplexed industry watchers, given that long-term drivers of growth remain intact.