The Indian Pharmaceutical Market (IPM) has experienced tremendous growth in 2024 with an annual growth rate of 8.3% and valuation of Rs 2,21,425 crore. It is a testament to the sector's resilience and innovation. Cardiac and gastrointestinal therapies lead the market.

Key highlights
Annual Growth: The IPM grew by 8.3% in 2024. December alone grew by 7.7% in value and 1.1% in unit sales.

Leading Therapy Areas

• Cardiac Segment: Contributed Rs 29,656 crore with an annual growth of 11.8%.

• Gastrointestinal Therapies: Added Rs 26,628 crore with a 9.7% growth.

• Anti-Diabetics: Grew 8.7%, valued at Rs 20,349 crore.

• Dermatology: Grew by 12.8%, contributing Rs 14,169 crore.

• Urology: Recorded the highest growth at 14.2%, reaching Rs 3,531 crore.

Declining Segments:

• Respiratory Therapies: Marginal growth of 0.7% was posted, with unit sales declining by 6.5%.

• Vaccines: Dropped sharply, with a decline of 16.1% in value and 26.2% in unit growth.

Top Corporate Performers

• Sun Pharma + Ranbaxy: Continued to lead the pack with sales of Rs 18,067 crore, up 12.8%.

• Abbott, Cipla, and Alkem: Did well in chronic and acute therapy segments.

Brand Performance Rankings
Top Performers:

• Augmentin (GSK): Led the pack with sales of Rs 824 crore, up 9.9%.

• Glycomet GP (USV): Second in sales at Rs 800 crore, up 4.5%

• Mixtard (Abbott): Sales were at Rs 770 crore, up 6.9%

• Pan (Alkem): Sales were at Rs 745 crore, up 11.6%

• Foracort (Cipla): Sales were at Rs 726 crore, up 4.9%

High Growth Brands:

• Liv.52 (Himalaya): Recorded 16.2% growth, at Rs 702 crore

• Electral: Recorded outstanding 29.6% growth, at Rs 443 crore

The pharmaceutical market in India continues to boom, led by strong growth in chronic disease management and innovative brand performances. Even though the industry faces challenges from the respiratory and vaccine segments, this trend hints at specialty and health care products in demand.