Indian pharma market grows 9.4% in 2018 led by medicines for chronic diseases
Indian pharma market grows 9.4% in 2018 led by medicines for chronic diseases
The growth was aided by sales of cardiac and anti-diabetes medications whose sales grew 11.7 percent to Rs 16,021 crore and 12.9 percent to Rs 12,143 respectively on YoY basis.
The Indian pharmaceutical market grew 9.4 percent year-on-year (YoY) to Rs 129,015 crore in 2018. The growth, much faster than 2017, was led by uptake of drugs to treat chronic diseases and normalisation of supply chain after the disruption caused by GST, according to market research firm AIOCD-AWACS.
The IPM grew in 5.5 percent to Rs 116,000 crore in 2017.
The growth was aided by 11.7 percent YoY growth in sales of cardiac medications to Rs 16,021 crore and 12.9 percent YoY growth in anti-diabetes medications to Rs 12,143.
Both cardiac and anti-diabetes segments now constitute little over one-fifth of the Indian pharmaceutical market, an indication of the growing burden of chronic lifestyle diseases.
Four out of the top five brands in the Indian pharmaceutical market are from the anti-diabetes category. Abbott’s human insulin Mixtard continues to be the largest selling brand with sales of Rs 522 crore in the domestic market despite being under price control.
Sales of gastrointestinal drugs rose 9.2 percent to Rs 14,811 crore, anti-infective 7.5 percent to Rs 17,607 crore, vitamins 8.7 percent to Rs 11,034 crore, respiratory 12 percent to Rs 9,741 crore and dermatology 11.1 to Rs 8,657 crore.
Third quarter FY19
For the third quarter ended December, sales of the Indian pharmaceutical market grew at 9.5 percent. Abbott, Lupin and Torrent Pharma, Cipla, Glenmark grew in double digits in the third quarter.
The data shows Lupin’s domestic sales grew at an impressive 13.8 percent in the third quarter to Rs 1,277 crore, Abbott sales rose 10.4 percent to Rs 2,149 crore and Torrent Pharma sales expanded 16.4 percent to Rs 1,087 crore
Cipla sales rose 10 percent to Rs 1,662 crore and Glenmark’s sales 12.6 percent to Rs 798 crore.
Sun Pharma, Alkem, GSK and Dr Reddy’s sales grew below industry growth. Market leader Sun Pharma sales rose 6.9 percent to Rs 2,766 crore, Alkem 7.4 percent to Rs 1,191 crore, GSK 6.5 percent to Rs 995 crore and Dr Reddy’s 6.5 percent Rs 738 crore.
Sales of multinational companies (MNCs) grew 8.3 percent in 2018.
The top 10 drug makers contribute 43 percent to the Indian pharmaceutical market
