The Indian medicines market is predicted to rise 8-9 percent year on year in FY26, according to a research released on Monday.
According to a survey by India Ratings and Research (Ind-Ra), the sector will develop at a 7.5-8.0 percent annual rate in FY25.
This is “against 6.5 percent year-on-year growth in FY24 and 9.9 percent YoY growth in FY23,” said Krishnanath Munde, associate director at India Ratings and Research.
In February, the pharmaceutical market generated 7.5% more revenue than the previous year. This growth was driven by price growth (5.2% YoY) and new releases (2.4%), while volume growth remained subdued at -0.2% YoY, according to the research.
In FY25, the industry had an average year-to-date (YTD) growth of 7.3%. Price rise (5.5%), new launches (2.7%), and volume growth all contributed to this increase.
Furthermore, the moving annual total (MAT), which is the 12-month rolling sales of all pharmaceutical items, increased by 8.1% in February, according to the report. Cardiac therapy surpassed growth in the pharmaceutical sector, increasing monthly market share by 13.7% and MAT by 10.8%, respectively. This was followed by dermatology, neurology/central nervous system, and gastrointestinal.
Antibiotics, respiratory, and gynaecology therapy, on the other hand, grew slowly in February, according to the research.
Meanwhile, another recent survey revealed that the country’s pharmaceutical industry is experiencing substantial expansion. According to McKinsey & Company’s report, the Indian pharmaceutical sector has risen at an 8% CAGR and would witness a 9% growth in export rates by 2024.
Expanding its expertise in APIs and biotechnology, it has expanded at a CAGR of 8%, more than twice the global average. The country has also emerged as the world’s leading provider of generic pharmaceuticals, with a pharma export growth rate of 9%, about double the worldwide average, according to the research.
Read More
International Women’s Day: PM Modi talks with Lakhpati Didis in Gujarat’s Navsari
India’s GDP growth would accelerate in the January-March quarter, according to a BoB estimate