Mumbai, May 16: Indian pharma market (IPM) has seen a 7.4 per cent year-on-year (YoY) growth in April due to a surge in chronic therapies, according to a report.The monthly report by Motilal Oswal Financial Services showed that the IPM’s growth in April 2024 was 9 per cent. In March 2025 it was 9.3 per cent.
The growth was driven by strong outperformance in cardiac, central Nervous System (CNS), and respiratory therapies.
Notably, respiratory therapies saw a revival in YoY growth in April. Acute therapy growth stood at 6 per cent in April (vs. 6 per cent in April 2024 and 8 per cent in March 2025) owing to seasonality.
IPM growth was also led by price (4.3 per cent), new launches (2.3 per cent), and volume growth (1.3 per cent).
Further, the report said that therapies like cardiac (11.3 per cent), gastro (9.4 per cent), antineoplast — also known as anticancer drugs or chemotherapy drugs — (12.6 per cent), and urology (13.1 per cent) lead YoY growth on a moving annual turnover (MAT) basis. On the MAT basis, the industry reported 7.9 per cent growth YoY.
Chronic therapies witnessed 9 per cent YoY growth, while acute therapies displayed 6 per cent YoY growth in April. The acute segment’s share in overall IPM stood at 61 per cent for MAT April, with YoY growth of 7.9 per cent.
The report noted that domestic companies outperformed multinationals in April. As of April, Indian pharma companies hold a majority share of 83 per cent in IPM, while the remaining is held by multi-national pharma companies (MNCs). In March, Indian companies grew 7.4 per cent, while MNCs grew 7.4 per cent YoY.
Similarly, a recent report, by rating agency India Ratings and Research (Ind-Ra), showed that IPM continued its growth in April with 7.8 per cent YoY in revenue.
The report showed that the growth was driven by the price hikes taken by companies with volume growing 1.3 per cent YoY. Almost all major chronic therapies also showed positive value and volume growth.