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Pharma Retail Shifts Gears: Demand Now Drives Growth
13 Jul
Summary
- Domestic pharma retail market shows strongest signs of demand-led growth.
- Volume growth surpassed 3% in June, first time in 24 months.
- Industry growth outlook revised upwards to over 11% this year.
The domestic pharmaceutical retail market is demonstrating its most robust indicators of a transition from price-led to demand-led expansion. Volume growth notably surpassed three percent in June, achieving this milestone for the first time in twenty-four months, following a period of one to two percent growth in the preceding five months.
Industry experts have revised the growth outlook upwards. Initially projected between eight and nine percent, the forecast for this year now exceeds eleven percent. This upward revision is fueled by the strong trends observed from January to June.
The Rs 2.5 lakh crore market's June expansion was primarily driven by increased sales in lipid-lowering and cardiac therapies. This suggests a rise in the diagnosis and treatment of heart-related conditions, reflecting a greater focus on patient health and well-being.
Furthermore, chronic therapies continue to outperform the overall market. This sustained demand is largely attributed to the increasing prevalence of lifestyle diseases, underscoring a growing need for ongoing medical management and treatment.
