Indian pharma market grows over 12% in July, but unit growth remains subdued at 1.6%: PharmaTrac
New Delhi, August 8
The Indian Pharmaceutical Market 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
Reader Comments
Good to see Anti-Diabetic and Cardiac segments growing. With rising lifestyle diseases in India, this was expected. But Mounjaro's 880% growth is shocking! Eli Lilly is clearly cashing in on the obesity and diabetes wave. Hope Indian companies also come up with affordable alternatives soon. 🙏
The volume growth being just 1.6% is concerning. It means more people aren't getting access to medicines, just prices are rising. As someone working in healthcare, I see this gap daily. We need policy intervention to boost actual consumption and accessibility, especially in rural India.
Interesting data! Vaccines growing at 17.5% is a positive sign - shows increased health awareness post-COVID. But I wonder how much of this growth is from urban vs rural areas. Also, new products contributing 3.8% - are these genuinely innovative or just me-too products at higher prices? 🤔
As a pharma distributor in Maharashtra, I can confirm this trend. Companies are launching premium-priced products while basic generics aren't growing much. The 5.9% price growth is putting pressure on margins at every level. Something needs to be done for sustainable growth, not just headline numbers.
Honestly, this is both good news and bad news. Good that the market is growing, bad that it's mostly price-driven. The government's Jan Aushadhi scheme needs more push so that common people benefit from affordable medicines. Pharma companies should focus on volume by making drugs cheaper, not dearer.
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