According to a recent report, the Indian pharmaceutical market witnessed a growth of 6.9% in May, indicating a positive trend in the industry. The growth rate is a significant improvement from the previous months, where the market had experienced a slower pace.
The report suggests that the growth in May can be attributed to the increasing demand for pharmaceutical products, particularly in the chronic therapy segment. The chronic therapy segment, which includes medicines for diseases such as diabetes, hypertension, and cardiovascular diseases, has been driving the growth of the Indian pharma market.
The report also highlights that the Indian pharma market is expected to continue its growth trajectory, driven by factors such as increasing healthcare expenditure, growing demand for generic medicines, and a large patient pool. The government’s initiatives to improve healthcare infrastructure and increase access to medicines are also expected to contribute to the growth of the market.
In terms of therapy segments, the report notes that the anti-diabetic segment witnessed the highest growth, followed by the cardio-vascular segment. The report also highlights that the Indian pharma market is highly competitive, with several domestic and international players operating in the market.
The report also mentions that the online pharmacy segment is gaining traction, with many players entering the market and expanding their presence. The online pharmacy segment is expected to play a significant role in the growth of the Indian pharma market, particularly in rural areas where access to healthcare is limited.
Overall, the report suggests that the Indian pharma market is poised for growth, driven by increasing demand for pharmaceutical products, government initiatives, and a large patient pool. The market is expected to continue its growth trajectory, with the chronic therapy segment and online pharmacy segment expected to play a significant role in driving growth.
Key statistics from the report include:
* 6.9% growth in the Indian pharma market in May
* Chronic therapy segment driving growth
* Anti-diabetic segment witnessed the highest growth
* Cardio-vascular segment also witnessed significant growth
* Online pharmacy segment gaining traction
* Indian pharma market expected to continue its growth trajectory
The report provides valuable insights into the Indian pharma market, highlighting the trends, opportunities, and challenges in the industry. It is a useful resource for pharmaceutical companies, investors, and policymakers looking to understand the dynamics of the Indian pharma market.