According to a report by HDFC Securities, the Indian pharmaceutical and healthcare sector is projected to experience moderate revenue growth with 11% sales and 6% EBITDA growth year-on-year for the March quarter. Pharmaceutical companies are expected to achieve 10% year-on-year sales growth, primarily driven by a 15% increase in the domestic market. However, this growth will be tempered by a 5% quarter-on-quarter decline in the US formulations market due to pricing pressures and the absence of gRevlimid sales. EBITDA margins for the pharmaceutical segment are anticipated to decrease by 110 basis points year-on-year, influenced by rising input costs, price erosion in the US market, and steady research and development expenses. The hospital sector is expected to grow by 15% year-on-year, supported by consistent occupancy rates and the addition of new beds. The diagnostics segment is also projected to see 15% growth, while retail pharmacy chains like Medplus and Apollo HealthCo are expected to achieve year-on-year growth rates of 22% and 20%, respectively. Despite challenges in the US generics market, certain key products may still gain traction.