The fresh wave of Covid-19 in the country has pushed up sales of medicines and resulted in exponential growth for the pharmaceutical sector.
According to total sales audit data from world's largest pharmaceutical market research firm IMS Health, the Indian Pharma Market (IPM) grew 59 per cent yoy in April, 2021 vs 16 per cent yoy in March, 2021 due to the low base effect in April, 2020 and sharp surge in Covid-19-related sales.
On the MAT (moving annual turnover) basis, IPM grew 9.6 per cent, primarily driven by pricing growth of 4.3 per cent and new product launch growth of 4.6 per cent. Volume growth was muted at 0.8 per cent.