New Delhi, May 8 India’s pharmaceutical market (IPM) continues its growth in April with 7.8 per cent year-on-year (yoy) in revenue, according to a report on Thursday.
The report, by rating agency India Ratings and Research (Ind-Ra), showed that the growth was driven by the price hikes taken by companies with volume growing 1.3 per cent yoy. Almost all major chronic therapies also showed positive value and volume growth.
“Ind-Ra expects IPM to grow to the tune of 7 per cent-8 per cent yoy during FY26, with sustained growth momentum in the chronic therapies, led by price increases and product launches,” said Nishith Sanghvi, Director, Corporate Ratings, Ind-Ra.
The report showed that the anti-diabetic segment experienced a volume growth -- 2.8 per cent yoy in April -- due to genericisation opportunities.
Volume growth was also observed in key therapies such as gastro-intestinal (5.5 per cent) derma (3.1 per cent) and cardiac (2.2 per cent).
Further, there had been a stable performance in April 2025 where value growth was observed across therapies.
Therapies such as cardiac, gastrointestinal, anti-diabetic, and derma showed higher volume growth than IPM.
Acute therapies such as gastro-intestinal, vitamins, pain/analgesics, and anti-infective witnessed sales growth of 10.1 per cent, 7.5 per cent, 8.5 per cent, and 6.5 per cent yoy, respectively.
Chronic therapies such as derma, cardiac, anti-diabetic, and CNS grew 10.8 per cent yoy, 10.6 per cent yoy, 7.7 per cent yoy, and 9.1 per cent yoy, respectively.
Ind-Ra's March report showed that the sales of the acute segment grew 6.4 per cent yoy (March 2024: 6.7 per cent yoy) while the chronic and sub-chronic therapy segment rose 8.0 per cent yoy (12.8 per cent) and 8.4 per cent yoy (12.3 per cent), respectively.
Cardiac (chronic; 13.4 per cent of IPM), anti-infectives (acute; 11.7 per cent), gastro-intestinal (acute; 12.1 per cent), anti-diabetic (chronic; 9.2 per cent) and vitamins (acute; 9.0 per cent) contributed 55 per cent to IPM in March 2025.
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