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The Indian Pharmaceutical Market (IPM) recorded a strong 12.1 per cent year-on-year growth in value terms in July 2026, while unit growth remained considerably lower at 1.6 per cent, highlighting the growing contribution of pricing, new products and premium therapies to industry expansion, according to PharmaTrac's July 2026 industry report.
On a moving annual total (MAT) basis, the IPM grew 10.2 per cent in value terms in July, while unit growth stood at 1.1 per cent. The monthly performance marked a further acceleration in market growth, with IPM value expansion improving from 7.3 per cent in the earlier period to 12.1 per cent in July. PharmaTrac's analysis indicates that July's 12.1 per cent value growth comprised approximately 5.9 per cent price growth, 3.8 per cent growth from new products and 2.4 per cent volume growth. While pricing remained the largest contributor, the improvement in volume growth provides an additional positive signal for the market. Among major therapy segments, Cardiac was the largest by value at Rs 3,299 crore and grew 14.7 per cent. Gastro Intestinal recorded sales of Rs 2,820 crore, followed by Anti-Infectives at Rs 2,470 crore. Anti-Diabetic therapies grew 17.6 per cent to Rs 2,237 crore, while Vitamins, Minerals and Nutrients rose 15.7 per cent to Rs 2,206 crore. Other major segments also posted healthy growth, including Respiratory at 11.2 per cent, Pain/Analgesics at 11.4 per cent and Neuro/CNS at 13.4 per cent. Vaccines and Anti-Neoplastics were among the fastest-growing categories, expanding 17.5 per cent and 21.1 per cent, respectively. At the brand level, Eli Lilly's Mounjaro stood out with sales of Rs 1,228 crore and reported growth of 880 per cent, adding Rs 1,103 crore, according to the report. Overall, the July data points to continued strength in India's pharma market, although the relatively low unit growth indicates that headline value expansion is being driven substantially by price and product mix rather than broad-based volume growth. (ANI)
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