The domestic pharmaceutical market grew at 12 per cent year-on-year in February, broadly in line with the average of 12.9 per cent since April 2015, primarily due to steady volumes, sustained healthy price hikes and new launches, a report said.
"The Indian Pharmaceutical Market (IPM) reported moderate revenue growth of 12 per cent year-on-year in February 2016 as against 18.9 per cent in February 2015, primarily attributable to steady volumes, sustained healthy price hikes and new launches," a report by Religare Institutional Research said.
Therapy-wise, the anti-diabetic, cardiac, derma and gastrointestinal segments outperformed IPM growth by 4-6 per cent. The respiratory and anti-infective segments were laggards, it said.
According to pharmaceutical market research company AIOCD AWACS, volumes, prices and new launches contributed 3.7 per cent, 5.4 per cent and 3 per cent respectively to domestic market growth.
The NLEM (National List of Essential Medicines) portfolio grew at 6.9 per cent year-on-year, broadly in line with the average of 6.6 per cent since April 2015, while the non-NLEM portfolio grew at 12.9 per cent, lower than the average of 14 per cent since April 2015.
The anti-diabetic, cardiac, derma and gastrointestinal segments together contribute 40 per cent of the IPM.
On the other hand, growth in the respiratory and anti-infective segments plummeted to 5.8 per cent and 5.3 per cent respectively, as compared to the average of 12.5 per cent and 8.1 per cent since April 2015, accounting for 24 per cent market share, the report said.
Top MNCs continued to post weak growth at 5 per cent year-on-year in February as against 17.6 per cent in the same month last year and an average of 11.6 per cent since April 15.
Domestic companies grew at a modest pace of 14 per cent as against 19.4 per cent in the same period last year, and an average of 13.3 per cent since April 2015.
Dr Reddy's revenue growth climbed to 32.5 per cent in February, strongly driven by an improved distribution network post-UCB consolidation.
Dr Reddy's Labs acquired select portfolio of established brands of Belgian firm UCB last year.
Glenmark Pharma and Lupin Pharma also witnessed robust growth of 19.6 per cent and 18.6 per cent respectively.
After posting weak numbers for three months (affected by cessation of bonus to distributors), Sun Pharma's growth normalised back to 18 per cent in February, the report added.
(PTI)
