November has seen a 4% drop in the Nifty Pharma index. Even though the Indian Pharma Market grew on a high base in October, the selling pressure in the domestic markets is what caused this fall.
According to reports, the growth of the pharmaceutical market in October 2024 stayed in the mid-single digits. Although last year’s large base was a contributing factor, the growth was not appreciably higher month over month.
According to a Centrum Stock Broking study, the Indian Pharma Market (IPM) grew by less than 5% year over year in October 24 as opposed to 16% year over year in October 23 and about 5% year over year in September 24. According to Centrum analysts, this was mostly because of last year’s strong base, but the growth was flat month over month.
At 6.7%, MAT growth—or growth over the previous 12 months—remains noticeably superior. On MAT, acute therapy showed a modest 5% YoY gain, whereas chronic therapy showed a 10% YoY increase. On October 24th, chronic therapy increased by 10% YoY, while acute therapy increased by just 2% YoY.
As of October, the Indian medicines market is still growing at a mid-single-digit annual rate, according to HDFC Securities’ Head of Retail Research, Deepak Jasani. Overall growth was driven by price hikes of 5.2% year over year and new launches of 2.7% year over year, while volume growth (negative 1.8% YoY) was rather moderate.
Pharmaceuticals Industry
Generics, over-the-counter medications, bulk medications, vaccines, contract research and production, biosimilars, and biologics are some of the main sectors of the Indian pharmaceutical industry. India leads the world in the supply of immunizations against measles, BCG, and DPT. India ranks among the world’s largest suppliers of affordable vaccines. 60% of the world’s vaccinations are produced in India, which also supplies 90% of the WHO’s need for the measles vaccine and up to 70% of the World Health Organization’s demand for the DPT and BCG vaccines.
