Mumbai (Maharashtra) [India], May 12 (ANI): India Ratings and Research (Ind-Ra) has said the 51.5 per cent 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 per cent in April 2020 due to Covid-19 lockdown.
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 second as these therapies have a direct and indirect role in treatment of patients.
The acute therapy growth was also aided by low base in April last year, said Ind-Ra.
During April 2021, volumes grew 34.5 per cent yoy, price growth was 7 per cent and product launches were at 10 per cent attributed to acute therapy products. Ind-Ra estimated the market growth of 8 to 10 per cent yoy during FY22.
Acute therapies like as anti-infectives, analgesic and vitamins witnessed sales growth of 134.4 per cent, 64.2 per cent and 75.8 per cent respectively while gastro grew 56.8 per cent.
The growth under-performance was observed in chronic therapies during the month with cardiac and anti-diabetic growing 26.9 per cent and 13.1 per cent respectively.
However on a moving average total March 2021 basis, said Ind-Ra, a growth out-performance was observed across these therapies. (ANI)