Indian Pharmaceutical Market Sees 10.5% Growth, Highest in Five Quarters
IPM growth at 10.5% marks 5-qtr high on steady pricing, volume recovery
Business Standard
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India's domestic pharmaceutical market experienced a robust growth of 10.5% in the January-March quarter of FY26, marking the highest rate in five quarters. This growth was driven by steady pricing and a notable recovery in volume, particularly in chronic and specialty therapies.
- 01The Indian Pharmaceutical Market (IPM) recorded a growth of 10.5% in the January-March FY26 quarter.
- 02Volume growth improved to 1.7%, a significant increase compared to previous quarters.
- 03Chronic therapies now represent 56% of the market, up from 53% in 2022.
- 04Acute therapies have declined to 44% of the market share in 2026 from 47% in 2022.
- 05Chronic therapies are growing at a 12% compound annual growth rate, nearly double that of acute therapies at 6%.
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The Indian Pharmaceutical Market (IPM) reported a 10.5% growth in the January-March quarter of FY26, the highest in five quarters, according to market research firm Pharmarack. This growth was primarily driven by steady pricing, which remained around 5.4-5.5%, and a recovery in volume, which rose to 1.7% after several quarters of stagnation. Monthly data showed consistent growth, with January starting at 10.2%, peaking at 11% in February, and slightly moderating to 10.1% in March. Chronic therapies, particularly cardiac and anti-diabetic treatments, led the growth, with cardiac therapies showing 14.7% growth in March. The market is shifting towards chronic and sub-chronic therapies, which now account for 56% of the market, reflecting a transition from acute therapies, which have declined to 44%. This trend indicates a growing demand for lifestyle-related treatments, with chronic therapies expanding at a 12% compound annual growth rate, compared to 6% for acute therapies. The overall growth underscores the increasing importance of value-driven healthcare in India.
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The shift towards chronic therapies indicates a growing demand for long-term treatments, which may affect healthcare costs and patient access to medications.
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