Pharma Market Rebounds with Strong Demand for Key Medications

After months of sluggish sales, the organized pharma retail market in India saw a significant rebound in November, driven by strong demand for dermatology and cardiac drugs. Heavy pollution in various parts of the country also boosted sales of Foracort, a medication used for asthma and respiratory issues, making it the top-selling drug with Rs 82 crore in sales, according to data from IQVIA.

Foracort's sales grew by 2%, while antibiotic Augmentin ranked second with a 9% growth, registering Rs 76 crore in sales. Antidiabetic therapy Glycomet GP ranked third with almost flat sales at Rs 69 crore.

In terms of therapy segments, urology led the growth with an 18% rise, followed by dermatology, cardiac, and pain-relief segments with growth rates of 16%, 13%, and 13%, respectively. Pain-relief medication Zerodol SP posted a 22% growth, while other drugs like Ryzodeg, Rosuvas, Cilacar, Rybelsus, and Duphalac grew over 20% month-on-month.

Sun Pharma continued to lead the market with an 8% share in the overall pharma retail market valued at Rs 2,28,059 crore. Cipla and Dr Reddy's also increased their market share month-on-month. Both acute and chronic medications posted double-digit growth of 11% each during the month.

Domestic companies registered an 11% growth, whereas MNCs grew just over 10%. Analysts predict the market will continue to grow by high-single digits, led by price increases and new launches, while volume growth remains muted.