Indian pharmaceutical market grows 16.6% year on year in June: Ind-Ra
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Supported by growth across therapies both in terms of volume and value, Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has showed that the Indian pharmaceutical market (IPM) grew strongly at 16.6% year on year (yoy) in June 2022.
According to the report, COVID-19 influenced drug growth stood at 8.1% yoy while non-COVID-19 growth was 21.7% yoy in June 2022. Therapy wise (yoy basis), cardiac (13.7%), gastro-intestinal (21.4%), anti-diabetic (14.0%), respiratory (16.4%), pain management (23.1%), derma (23.9%), CNS (19.1) and gynaec (33.2%) reported a robust performance during the month, except anti-Infectives (2.1%).
The rating agency further noted that the acute therapy segment strongly recovered at 16% yoy in June 2022, after the weak performance from February to May 2022. Post normalisation of the high growth months of April 2021 (51.5% growth) and May 2021 (47.8%), led by the lockdown-related lower base last year and higher volume growth, the average IPM growth from June 2021 to January 2022 was healthy at 11.1% yoy, while the average IPM growth was at 1.3% during February to June 2022.
