Domestic pharma market bounces back to growth phase in November

The Indian pharma market registered 14.5% YoY growth in November

After seeing 5.1 per cent growth in October, the domestic pharma market has bounced back in November. The Indian pharma market (IPM) registered a 14.5 per cent year-on-year growth in November, one of the best growths seen in more than 32 months. 

Data from market research firm AIOCD AWACS showed that in November last year, the IPM had clocked a 7 per cent growth. In terms of moving annual turnover (MAT), which considers the past 12 months' turnover, the MAT November growth is at 9.8 per cent. Acute therapies, which accounts for 47 per cent of the IPM, has exhibited growth of 8.9 per cent, while Chronic therapies which accounts for 33 per cent of the IPM has exhibited growth of 11.7 per cent. 

On MAT November 2019, anti-infective market being the largest market exhibits growth of 8.6 per cent, cardiac market 12.2 per cent, anti-diabetic market 13.6 per cent, gastrointestinal 8.9 per cent, vitamins and minerals 8.9 per cent, and pain and analgesics at 9.7 per cent. Commenting on the November numbers AIOCD said, "We need to look into the seasonality as well.  Last year, the Diwali was in November and had impacted the sale and thus had a low base (growth of 7 per cent). As the Diwali shifted to October in 2019, November had no pressure. Hence, on the lower base of November 2018, November 2019 did well." 

It added, "If we look at an average of growths for October 2019 (5.1 per cent) and November 2019 (14.5 per cent), the average of two is 9.8 per cent, which is the MAT growth of IPM (9.8 per cent). So, we are looking at a steady growth phase."