During January 2021, the chronic therapy segment continued to deliver a healthy growth performance while acute segments reported a subdued performance, leading to overall lower sales growth in January 2021 than December 2020 sales, understands India Ratings and Research (Ind-Ra). During April 2020 to January 2021, the average price growth and new product launches growth stood at 4.7% and 2.7% yoy, respectively while average volume growth fell 6.5% yoy, which led to average India’s pharmaceutical market’s (IPM) size growing 1% yoy.


Chronic Segment Reported Healthy Growth during Pandemic: Continued-though-lower growth was seen in chronic and sub-chronic segments at 6.1% yoy (December 2020: 10.9% yoy) and 8.6% yoy (9.7%), respectively, in January 2021. acute segment grew just 1.1% yoy in January 2021 (December 2020: 6.0%). During April 2020 to January 2021, the average monthly growth of chronic, sub-chronic and acute segment was 7.1%, +2.0% and negative 3.4% yoy, respectively. Ind-Ra highlights that the acute segment reported negative growth between April to August 2020 on account of COVID-19 while a gradual improvement has started since September 2020. 


Top Five Therapies Contribution stood at 57% of IPM: These therapies are cardiac (chronic; 14% of IPM), anti-infectives (acute; 13%), gastro-intestinal (acute; 11%), anti-diabetic (chronic; 10%) and vitamins (acute; 9%). 

Figure 3
Performance of Top Five Group Class in Top Five Therapies in IPM

Therapy/group names; INR million

MAT
Jan 21

Growth
yoy

% total

Jan 21

Jan 20

Jan 19

Jan 18

Cardiac

2,02,235

13.2

13.9

17,689

16,258

14,688

12,798

Statins

20,217

9.0

10.0

1,710

1,687

1,508

1,401

Angiotensin Ii Antagonists + Diuretics

16,297

9.8

8.1

1,367

1,331

1,237

1,078

Angiotensin-Ii Antagonists, Plain

15,694

11.0

7.8

1,321

1,275

1,155

1,006

Beta-Blocking Agents, Plain

15,081

9.9

7.5

1,319

1,235

1,138

1,029

Platelet Aggregation Inhibitors

14,581

9.4

7.2

1,272

1,184

1,087

963

Anti-Infectives

1,88,058

-2.8

12.9

15,400

15,825

14,819

14,026

Cephalosporins

59,828

-13.9

31.8

4,783

5,373

4,922

4,901

Broad-spectrum Penicillin

25,891

-11.9

13.8

2,174

2,610

2,404

2,291

Antivirals, Excluding HIV Products

18,326

72.8

9.7

1,196

912

1,008

830

Macrolides and Similar Types

17,375

0.9

9.2

1,363

1,509

1,372

1,258

Systemic Agents for Fungal Infections

15,388

-10.9

8.2

1,379

1,367

1,255

1,164

Gastro Intestinal

1,62,974

3.5

11.2

14,576

12,750

12,196

11,029

Gastroprokinetics

36,387

6.8

22.3

3,263

2,852

2,691

2,426

Anti-Ulcerants Acid Pump Inhibitors

20,403

5.5

12.5

1,780

1,664

1,485

1,338

Intestinal Anti-Infective Antidiarrhoeals

10,531

-6.6

6.5

974

857

832

751

Antidiarrhoeal Micro-Organisms

9,784

-13.2

6.0

947

854

848

690

Hepatic Protectors, Lipotropics

8,744

9.3

5.4

720

629

580

544

Anti Diabetic

1,48,671

7.7

10.2

12,766

12,120

11,299

9,415

Oral Antidiabetics

1,16,085

8.0

78.1

9,964

9,380

8,706

7,300

Human Insulin Premix

10,253

1.8

6.9

870

886

875

740

Insulin Analogues Basal

8,208

13.1

5.5

706

665

614

504

Insulin Analogues Premix

4,206

1.5

2.8

366

357

358

292

Insulin Analogues Rapid

3,069

11.3

2.1

280

246

224

170

Vitamins/Minerals/Nutrients

1,30,277

7.0

8.9

11,028

9,827

9,084

8,306

Calcium Products

23,299

-1.2

17.9

1,975

1,904

1,791

1,624

Traditional Antioxidants (Multivit/Multimineral)

20,350

18.1

15.6

1,675

1,324

1,248

1,173

Other Vitamins

19,022

16.1

14.6

1,562

1,329

1,228

1,078

B Complex

14,256

6.9

10.9

1,145

1,044

931

873

Methylcobalamin Combinations

9,245

-2.1

7.1

779

747

734

655

Source: AIOCD-AWACS, Ind-Ra


Figure 4
Therapies-wise IPM Growth Performance Since March 2020 (%)

Therapy

Feb 20

Mar 20

Apr 20

May 20

Jun 20

Jul 20

Aug 20

Sep 20

Oct 20

Nov 20

Dec 20

Jan 21

Anti-Infectives

14.3

10.4

-21.6

-20.8

-9.7

-10.1

-11.0

1.5

6.7

0.2

5.2

-2.7

Cardiac

14.4

21.7

7.8

5.4

14.8

13.6

11.6

17.5

19.7

8.7

14.9

8.8

Gastro Intestinal

11.5

8.1

-14.0

-11.4

1.8

-1.5

-2.4

5.9

14.0

3.1

16.2

14.3

Anti Diabetic

11.9

19.5

7.7

2.2

9.6

6.4

1.6

6.7

9.8

1.9

9.9

5.3

Vitamins

12.0

4.8

-16.1

-8.3

6.0

5.9

6.4

16.5

22.7

6.6

14.0

12.2

Derma

10.3

-1.5

-22.6

-10.5

3.2

-0.9

-1.2

3.4

10.3

1.4

10.8

9.1

Respiratory

18.8

24.5

0.9

-4.7

5.0

-1.7

-12.3

-10.3

-6.5

-6.9

-8.7

-14.1

Pain/Analgesics

11.8

4.8

-20.0

-16.9

-1.5

-6.3

-9.5

-4.0

2.9

-5.2

6.0

5.0

Neuro/CNS

11.0

10.9

-3.2

0.9

9.5

4.0

-0.2

5.4

9.8

0.3

9.2

6.7

Gynaecological

7.3

-3.7

-23.4

-17.5

-3.4

-5.0

-5.6

-2.1

6.6

-4.3

6.6

6.9

Anti-Neoplastics

2.9

-15.2

-13.2

-15.4

-12.6

-1.6

-2.9

5.4

2.8

0.1

8.1

-2.6

Blood Related

21.2

5.4

-12.7

-7.2

0.8

-3.1

-1.9

-5.8

-8.1

-9.0

6.6

3.3

Hormones

13.8

9.8

-6.1

-7.4

3.1

2.7

-2.1

3.7

9.0

-3.4

6.0

0.8

Ophthal

8.3

-4.8

-29.0

-20.4

-7.0

-11.1

-13.0

-5.4

0.1

-11.4

-2.3

-1.0

Vaccines

16.1

-6.3

-22.0

-10.3

3.7

-2.9

-5.2

5.5

14.7

8.2

4.3

-7.7

Urology

14.7

10.3

-9.6

-4.9

5.8

5.9

7.6

12.6

17.0

9.7

16.0

13.7

Source: AIOCD-AWACS, Ind-Ra



Figure 5
Performance of Top Five Companies in Top Five Therapies in IPM

Company/Therapy; INR million

MAT Jan 21

Growth yoy

% total

Jan 21

Jan 20

Jan 19

Jan 18

Cardiac

Sun

21,418

7.6

10.6

1,800

1,748

1,675

1,611

Torrent

14,655

11.1

7.2

1,264

1,198

1,056

897

Lupin

14,089

11.3

7.0

1,235

1,186

1,039

874

USV

9,961

12.8

4.9

870

812

703

612

Cipla

9,905

14.1

4.9

822

778

715

614

Anti-Infectives

Alkem

18,085

-7.7

9.6

1,480

1,534

1,462

1,366

Aristo

16,568

1.0

8.8

1,259

1,231

1,077

980

Cipla

16,507

14.2

8.8

1,387

1,220

1,176

1,079

Mankind

12,374

-5.2

6.6

931

1,033

943

897

Macleods

11,159

-4.6

5.9

938

948

880

879

Gastro Intestinal

Abbott

16,812

11.1

10.3

1,545

1,292

1,151

1,043

Sun

14,104

3.1

8.7

1,299

1,185

1,108

1,037

Alkem

9,596

7.8

5.9

838

719

761

623

Dr. Reddy’s

7,864

0.9

4.8

717

626

582

479

Aristo

7,649

19.1

4.7

658

522

468

389

Anti Diabetic

Abbott

17,749

2.6

11.9

1,520

1,514

1,505

1,224

USV

14,637

6.3

9.8

1,234

1,178

1,123

1,006

Lupin

13,914

10.8

9.4

1,236

1,105

1,005

784

Sun

11,392

6.7

7.7

957

939

875

817

Sanofi India

9,922

5.5

6.7

817

833

791

629

Vitamins/Minerals/Nutrients

 

 

 

 

 

 

 

Abbott

11,192

21.6

8.6

926

774

717

648

Mankind

8,380

6.3

6.4

690

584

554

520

Alkem

7,385

18.4

5.7

636

477

508

427

Torrent

5,873

9.3

4.5

493

437

392

337

Sun

5,262

15.0

4.0

469

386

342

309

Source: AIOCD-AWACS, Ind-Ra

Note: Sun = Sun Pharmaceutical Industries Ltd; Torrent Pharma = Torrent Pharmaceuticals Ltd (IND AA/Stable); Lupin = Lupin Ltd; Alkem = Alkem Ltd (IND A1+); USV = USV Ltd; Cipla = Cipla Ltd (IND AAA/Stable); Mankind = Mankind Pharma Ltd; Abbott Labs = Abbott Laboratories Ltd; Dr. Reddy’s Labs = Dr. Reddy’s Laboratories (IND AA+/Stable); Sanofi India = Sanofi India Ltd; Macleods = Macleods Pharmaceuticals Ltd; Aristo = Aristo Pharmaceuticals Private Limited 

NLEM:
Drug price control has been a source of considerable agony to the Indian pharmaceutical industry. National List of Essential Medicines (NLEM) in India, which determines the basis of drug price regulation, consists around 14% of the total IPM.



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Analyst Names

  • Abhinav Aakash

    Analyst
    India Ratings and Research Pvt Ltd Wockhardt Towers, 4th floor, West Wing Plot C-2, G Block. Bandra Kurla Complex Bandra (East), Mumbai 400051
    +91 22 40001700

    Nishith Sanghvi

    Associate Director

    Krishnanath Munde

    Associate Director
    +91 44 43401768

    Media Relation

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    Manager – Corporate Communication
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