New Delhi, Aug 8 (IANS) The Indian pharmaceutical market (IPM) grew 7.9 per cent in July this year, and the cardiac and anti-diabetes therapy segments have shown strong volume, according to a report.
The report by market research firm Pharmarack showed that cardiac and antidiabetes — which together account for nearly 25 per cent of the overall domestic market — recorded value growth of 14.1 per cent and 9 per cent, respectively.
Several super groups, such as urology and antineoplastics, each contributing around 2 per cent to the IPM’s monthly sales value, also reported double-digit value growth. The respiratory segment also registered a 9.2 per cent value growth.
“New introductions and price growth have driven the market growth for the month of July for most of the therapies,” said Sheetal Sapale, vice-president (commercial) at Pharmarack.
“Among the top therapies, only cardiac and anti-infectives have a strong volume growth. New introductions also drove the growth in the anti-diabetes segment,” Sapale added.
Meanwhile, the report highlighted that the GLP-1 agonists market continues to ride on a strong positive trend.
As per the report, Semaglutide and Tirzepatide continue to drive the growth of this market.
While Semaglutide is marketed as Rybelsus (oral), Wegovy (injections), Tirzepatide is sold under the brand Mounjaro. Both injectable medications are used to treat type 2 diabetes and promote weight loss.
“A strong upward momentum is seen for the month of July. This may be due to aggressive promotion of both the new launch brands in the market,” Sapale said.
Although the launch of Tirzepatide had impacted Semaglutide (Rybelsus), “we see Wegovy bringing back the molecule on a strong sales momentum,” Sapale said.
Further, the report also focused on strategic areas that drive exponential growth in the Indian pharma industry. This includes biologics and biosimilars, which are changing the canvas of the Indian pharma market.
“The biosimilars market is about Rs 3,900 Crore market today, growing at a five-year CAGR of 15 per cent,” Sapale said.
“With the changing landscape of disease patterns and associated complications, Biologics and Biosimilars play a critical role in the Indian pharma market,” Sapale added.
–IANS
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