The Indian pharmaceutical market (IPM) registered a year-on-year growth of 7.4% in April 2025, largely propelled by chronic therapies such as cardiac, central nervous system (CNS), and respiratory treatments, according to a report by Motilal Oswal Financial Services.
Chronic and specialty therapies fuel performance
Cardiac, CNS, and respiratory segments significantly outperformed in April, pushing overall market growth despite the seasonal nature of acute therapies. Respiratory therapies, in particular, witnessed a revival in year-on-year performance. While chronic therapies grew at 9%, acute therapies showed 6% growth during the same period.
On a moving annual turnover (MAT) basis, the overall industry posted a 7.9% YoY growth. Therapies such as cardiac (11.3%), gastro (9.4%), antineoplastics (12.6%), and urology (13.1%) were among the top contributors to this trajectory.
Price hikes and new launches add to momentum
IPM’s growth was further bolstered by a combination of price increases (4.3%), new product launches (2.3%), and volume growth (1.3%). This mix underscores how companies are balancing innovation with market-driven pricing strategies.
The acute segment retained a 61% share of the overall pharma market, despite its lower growth compared to chronic segments. Chronic therapies continued to show dominance in value and volume growth, reflecting a shift in treatment demand and healthcare patterns.
Indian firms lead over MNCs in domestic market
Domestic pharmaceutical companies continue to dominate, holding 83% of the market share in April. Indian firms posted a growth of 7.4%, outpacing their multinational counterparts, who recorded the same percentage growth but on a smaller market base.
This trend is consistent with insights from India Ratings and Research (Ind-Ra), which reported 7.8% revenue growth in April for the IPM, supported by pricing actions and increased sales across chronic treatment lines. With ongoing momentum in chronic therapy adoption, Indian pharma players appear well-positioned to sustain their market lead in the near term.
