MUMBAI: The delayed onset of
across the country seems to have
dampened medicine sales
. The domestic pharma retail market grew 4. 5% in June — down from almost 10% growth seen in the previous month. Therapies like respiratory and anti-infectives were in the negative territory, data from IQVIA showed.
Typically, with the arrival of rains in June across several parts of the country, there is a high incidence of viral infections, fever and vectorborne ailments, resulting in a sales uptick for the pharma industry. Overall, the organised pharma retail market valued at around Rs 2 lakh crore registered a growth of nearly 11% for the 12-month MAT (moving annual total) period ended June. The sluggish growth is surprising, even though the industry raised prices on essential drugs over 12% in April, in line with the change in wholesale inflation, industry experts said. “The industry de-grew by 6% in volume during the month, one of the sharpest falls in recent times. Growth in both acute and chronic therapies was impacted.
Among therapies, cardiac drugs recorded a growth of 8% (value-wise) and 1% (volume-wise), anti-infectives de-grew by 2% (valuewise) and 14% (volume-wise), and respiratory medication registered a negative growth of 6% (value=wise) and 13% (volume-wise),” an industry expert said.
Among the top-selling drugs in June, anti-diabetic therapy, Mixtard maintained the pole position with a growth of 3% month-onmonth. In the top 10 pecking order, oral electrolyte, Electral, showed the highest growth of 39%, the data said.
Others like Augmentin, Pan and Udiliv gained two ranks each. The pecking order of companies in terms of market share remained the same in June with Sun Pharma at the top slot, followed by Abbott and Cipla. Intas Pharma posted the highest growth, followed by Macleods, while on a MAT basis, Mankind, Alkem, Intas and Macleods are the fastest-growing companies, the data showed.
Further, the pharmaceutical industry (domestic and exports) registered a compound annual growth rate of 6-8% during FY18-23, of which 8% growth is contributed by exports, and 6% by the domestic market, according to CareEdge Ratings. It expects the industry to grow 7%-8% in FY24-25, supported by around 7% growth in exports, and nearly 9% in the domestic market during the same period.