The Indian pharmaceutical market (IPM) grew at a much better pace in March led by improved sales of drugs in the chronic segment and acute segment bucking the trend of a sequential decline.The fading demonetization impact also aided the market growth.
The domestic drug market grew at 9.6 percent in March compared to 8 percent growth in the same period last year, according to data from market research firm AIOCD-AWACS.
In February IPM grew at 7.1 percent.The pharma market clocked Rs 8,989 crore in February adding Rs 789 crore. For the full year ended March 2017 IPM grew at 10.3 percent to Rs 1.1 trillion, almost similar to the growth rate of 10.2 percent in FY16.
Major segments like cardiac, anti-diabetic and derma have grown by double-digits and anti-infective segment has not de-grown for the month.
Among the top 10 ranks, Cadila Healthcare has the highest growth at 12.1 percent followed by Sun Pharma at 11.1 percent and Abbott at 9.1 percent, the data showed.
Alkem sales grew at 11.2 percent, Lupin at 10.1 percent and Cipla at 6.3 percent.
Sales of drugs under non-national list of essential medicines (NLEM) category grew at 12.6 percent in March. Sales of multinational drug companies grew at 9.6 percent.
The therapeutic areas anti-diabetic market grew at 23.1 percent, followed by cardiac 11.3 percent; neuro/CNS (or central nervous system) at 5.3 percent in chronic business.In an acute segment anti-infectives grew slightly by 0.8 percent in March.Anti-diabetes drugs were at the top of the pack in March with brands such as Mixtard, Glycomet G, Lantus and Galvus Met in the top-5 top-selling list.