Latest data show slowdown in Indian pharma market growth

The Indian pharmaceutical market’s growth retreated to 10.3% year-on-year to December 2019 after strong growth reported in November 2019 (+16.8% y-o-y). Growth was driven by anti-infectives (+15.4% y-o-y) and respiratory (+19.7% y-o-y), but out of the top 10 therapies, seven underperformed the industry.

Cardiac (+9.9% y-o-y) and anti-diabetic (+9.2% y-o-y) products underperformed for the second straight month. Gastro-intestinals (+5.7% y-o-y), vitamins (+8.3% y-o-y) and dermatologics (+8.2% y-o-y) were also laggards.

Analysts said muted volumes at 0.7% y-o-y were a drag, while growth of new launches came in at 2.7% y-o-y.