General
Pharma retail market registers 10% growth in Oct 2020
The market grew 9.6% YoY during October, led by a volume growth of 0.9% YoY, price growth of 5% and increase in product launches at 3.7%.
- By ICN Bureau
| November 16, 2020
The domestic pharmaceutical retail market has shown a growth of 10% in October 2020 due to high number of prescriptions and OPD (outpatient department visits).
The October 2020 growth was more than double that of September 2020, which had seen a 4.5% jump. The market grew 9.6% YoY during October, led by a volume growth of 0.9% YoY, price growth of 5% and increase in product launches at 3.7%.
The revival was on the back of therapies, including cardiac and anti-diabetic according to AIOCD Awacs. Respiratory medicines showed marginal improvement at -6.6% in October 2020 as against -10.5% in September 2020.
The market was valued at nearly Rs. 1.5 lakh crore which has been sluggish since March 2020. Revenue in acute therapies grew 6% YoY, while that in chronic and sub-chronic therapies rose 13% YoY each in October 2020.
Anti-infective sales showed a positive trend, growing by 6.6% in October 2020 as against 1.4% in September 2020, while associated therapy like gastro reported a growth of 13.6% and vitamins at 22.6%. Pain and analgesics grew at 2.8% during the month from -4.3% in September.
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