Mumbai : The Indian Pharmaceutical Market (IPM) has registered a growth of 47.8 per cent for the month of May 2021, as against a growth of 51.5 per cent for the month of April 2021.
According to AIOCD AWACS report, the IPM has recorded a robust growth of 10.8 % value growth for moving annual total (MAT) basis during May 2021.
The top areas like anti-infectives, cardiac, gastro and nutritionals show a robust double digit growth for moving annual total May 2021 period as well.
“As the country recovers one more time from the impact of Covid wave, pharmaceutical industry has been showing strong signals of recovery in the last few months,” the report said.
“While we have been successful to a great extent in managing the pandemic, the treatment protocol itself has let to many more unwanted effects like increased blood sugar levels, opportunity infections like black/white/yellow fungus, etc. This, in turn has led to increase in consumption of drugs needed to manage these effects,” the AIOCD AWACS report said.
Companies operating in Covid treatment therapy segments have gained substantially through bumper sales and substantial changes in brand and company ranking seen for April 2021, the report further said.
While India Ratings and Research stated that the growth in India’s pharmaceutical market (IPM) during May 2021 was led by a low base effect, as IPM declined by 8.5% year on year in May 2020 due to the lockdown. IPM growth would have been stronger on an adjusted basis.
The agency also estimates the pharmaceutical market to grow of 8%-10% year on year in size during FY 2022.
The rating agency said that acute therapies such as anti-infectives, analgesic and vitamins witnessed sales growth of 141.9% year on year, 50.3% year on year and 59.8% year on year respectively, while gastro grew 47.7% year on year during May 2021.