The 51.5% year-on-year growth in India’s pharmaceutical market during April was led by a low base effect as the market declined by 10.2% in April 2020 due to Covid-19 lockdown, as per India Ratings and Research (Ind-Ra).
The growth would have been stronger on an adjusted basis, it said. Acute therapies like anti-infective and vitamins benefitted significantly due to the second Covid wave as these therapies have a direct and indirect role in the treatment of patients. The acute therapy growth was also aided by a low base in April last year, said Ind-Ra.
During April 2021, volumes grew 34.5% YoY, price growth was 7% and product launches were at 10% attributed to acute therapy products. Ind-Ra estimated the market growth of 8% to 10% YoY during FY22.
ANI