IPM Posts More than 8% Growth in June 2024: Pharmarack Research

IPM :Pharmarack Research

GSK’s antibiotic Augmentin and USV’s anti-diabetic medication Glycomet GP remained the top-selling medical brands, with sales of Rs 76 crore and Rs 66 crore, respectively. According to market research firm Pharmarack, the Indian pharmaceutical market (IPM) expanded by 8.8 percent in June of this year, with all key therapies experiencing positive value increase. Respiratory, anti-infective, and gastrointestinal medicines all experienced double-digit value growth of 19.2%, 17.2%, and 10.7%, respectively.

According to market research firm Pharmarack, the Indian pharmaceutical market (IPM) expanded by 8.8 percent in June of this year, with all key therapies experiencing positive value increase.

Respiratory, anti-infective, and gastrointestinal medicines all experienced double-digit value growth of 19.2%, 17.2%, and 10.7%, respectively. Between July 2023 and June 2024, IPM’s moving annual turnover (MAT), which is the previous 12 months’ turnover, increased by 7.6%, resulting in a total turnover of more than Rs 2 trillion, while domestic market volumes fell by 0.1%.

The MAT of key therapies such as cardiac, anti-infective, and gastro-intestinal showed reasonably significant volume growth of 9%, 8.7%, and 8.4%, respectively. Together, the three therapeutic areas account for approximately 38% of IPM.

While top players experienced modest monthly value growth in the domestic market, Fourrts (28.1%), FDC (22.2%), Aristo (17.7%), Cipla (16.5%), and Glenmark (16.4%) experienced significant monthly value growth among the top 40 companies in the IPM in June 2024. GSK’s antibiotic Augmentin and USV’s anti-diabetic medication Glycomet GP remained the best-selling medical brands, with sales of Rs 76 crore and Rs 66 crore, respectively.

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