The remarkable 11% gain in the domestic pharmaceutical retail sector in July was a result of a notable rise in flu cases and other viral diseases. This growth spurt, which is sometimes called the “flu effect,” was mostly caused by higher sales of painkillers and anti-infectives.
Based on sales data, the antibiotic Augmentin was the best-selling brand of the month, leading the market with sales of Rs 72 crore. The robust efficacy of augmentin coincides with the elevated frequency of bacterial and viral infections during this time. The data indicates that there was significant rise in anti-infectives, analgesics, and gastrointestinal pharmaceuticals, with double-digit increases of 14%, 11%, and 15%, respectively.
In July, the moving annual total (MAT) increase of the market was 8.0%. The seasonal spike in flu and other vector-borne illnesses, which are prevalent in India during the rainy season, is connected to the increase in sales. The demand for antibiotics and other medications to treat infections and control pain is increased as a result of these disorders.
Other best-selling brands fared well as well, with Augmentin seeing a considerable jump in market rank from second place in July 2023 to first in the current data. In the top 10, Liv-52, Udiliv, and Pan-D all saw notable development. Acute treatment categories, such as pain and antibiotics, grew by 11%, while chronic medicine categories, such as cardiovascular and anti-diabetic medications, grew by 12%.
Sun Pharma held an 8 percent market share, maintaining its position as the industry leader. Multinational businesses (MNCs) saw a rise of 10.2 percent, while domestic pharmaceutical companies reported growth of 11.4 percent. This suggests that pharmaceutical companies operating locally and internationally are doing well.
Analysts forecast that the robust demand for acute therapies, especially anti-infectives and respiratory medications, will propel the domestic pharmaceutical market to rise at a quicker rate of about 10%. Given that the market’s average growth rate is typically between 8 and 9 percent, the July data point to a positive picture of the sector’s performance going forward.
In conclusion, the rising demand for pharmaceuticals brought on by seasonal illnesses is responsible for the notable expansion in the pharmaceutical retail sector in July. The market’s growth is a result of both domestic and foreign pharmaceutical businesses’ strong performance and a larger trend of growing health requirements.
SOURCE :
THE ECONOMIC TIMES
