Retail Pharma Market Records 21% Growth in Nov

Amid the gloom in the economy, the domestic pharma retail market in November proved not only resilient but also recorded its highest growth in the last 14 months. 

Growth in the organized pharma retail market jumped to 21.5% in November, the highest since September 2010, spurred by a huge growth in respiratory, vitamins and anti-infective therapies. The top 20 companies including Abbott, Cipla, Ranbaxy and GSK outshone the month's growth by growing over 20% during November. Mid-level companies like Macleods, Micro Labs and IPCA witnessed a growth of 42%, 39% and 30% respectively, and MNCs like Pfizer with over 30% were the growth drivers during the month. The nearly Rs 60,000 crore pharma retail market has been on an upswing with growth averaging around 13-17% over the last few years, buoyed by a strong demand, improved spending on healthcare, favourable demographics and rising middle class incomes. This year the pharma retail market is expected to post a robust double digit growth of around 15%.