IPM reports positive growth in India's domestic pharma market
Supported by steady volumes, sustained price increases and product launches
India's domestic pharmaceutical market grew at 12% year-on-year in February 2016 compared with 18.9% in the same period in 2015, on the back of steady volumes, sustained healthy price hikes and new launches. The growth was broadly in line with the average of 12.9% since April 2015.
The Indian Pharmaceutical Market (IPM) reported that the diabetes, cardiology, dermatology and gastrointestinal segments outperformed this growth by 4–6%, while the respiratory and anti-infective segments saw slower growth.
According to pharmaceutical market research company AIOCD AWACS, volumes, prices and new launches contributed 3.7%, 5.4% and 3% respectively to domestic market growth.
The NLEM (National List of Essential Medicines) portfolio grew at 6.9% year-on-year, broadly in line with the average of 6.6% since April 2015, while the non-NLEM portfolio grew at 12.9%, lower than the average of 14% since April 2015.
The diabetes, cardiology, dermatology and gastrointestinal segments together contribute 40% of the IPM.
Growth in the respiratory and anti-infective segments fell to 5.8% and 5.3% respectively, compared with the average of 12.5% and 8.1% since April 2015, accounting for a 24% market share.
Top multinationals continued to post weak growth at 5% year-on-year in February, compared with 17.6% in the same month last year and an average of 11.6% since April 15.
Domestic companies, on the other hand, grew at a modest pace of 14% as against 19.4% in the same period last year, and an average of 13.3% since April 2015.
