Credit rating agency, India Ratings and Research (Ind-Ra) in its latest report has said that the Indian pharmaceutical market (IPM) delivered slower growth of 5.0% in October 2021 than 12.4% in September 2021.
As per the report, the acute therapy segment (up 8.1% yoy) performed relatively better than chronic segment (up 2.3% yoy). The acute therapy segment demonstrated robust performance since March 2021 (average growth at 30% yoy) owing to lower base last year.
Credit rating agency further noted that post normalisation of the high growth months of April 2021 (up 51.5% yoy) and May 2021 (up 47.8%) led by the Covid-19-led lockdown related lower base last year and higher volume growth, the average IPM growth from June to October 2021 has been healthy (up 12.6% yoy).