Cardiac, anti-diabetic and nutrition therapies drive IPM growth in July: Sheetal Sapale

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The Indian Pharmaceutical Market (IPM) grew 12.1 per cent in value to Rs 23,193 crore in July 2026, with cardiac, anti-diabetic and vitamin, mineral and nutrient therapies among the key contributors to market growth, according to data from Pharmarack Technologies.

“The July performance reflects broad-based growth across major therapy segments, with cardiac, anti-diabetic and VIT/MIN/NUT emerging as important contributors to the overall IPM growth. At the same time, segments such as anti-neoplastics and vaccines recorded particularly strong growth rates, indicating continued momentum in specialised therapies,” said Sheetal Sapale, Vice President – Commercial, Pharmarack Technologies.

Cardiac remained the largest therapy segment, accounting for 14 per cent of the IPM with July sales of Rs 3,299 crore. The segment grew 14.7 per cent in value and 3.8 per cent in units, outperforming the overall market.

Anti-diabetic therapies, with a 10 per cent market contribution, recorded sales of Rs 2,237 crore and registered 17.6 per cent value growth, while units increased 3.5 per cent.

The VIT/MIN/NUT segment also made a significant contribution, with sales of Rs 2,206 crore and 15.7 per cent value growth. Its unit sales increased 5.8 per cent.

Among the fastest-growing segments, anti-neoplastics recorded 21.1 per cent value growth, taking July sales to Rs 577 crore, while units increased 10.1 per cent. Vaccines recorded 17.5 per cent value growth and 19.3 per cent unit growth.

Other major contributors included Neuro/CNS, which grew 13.4 per cent to Rs 1,568 crore; respiratory therapies, up 11.2 per cent to Rs 1,490 crore; and pain/analgesics, which grew 11.4 per cent to Rs 1,634 crore.

However, growth remained uneven across therapy areas. Gastro-intestinal therapies grew 9.2 per cent in value to Rs 2,820 crore despite a 2 per cent decline in units, while anti-infectives grew 6.2 per cent to Rs 2,470 crore with units declining 2.4 per cent.

At the lower end, anti-malarials declined 8.1 per cent in value, while hormones grew 6.8 per cent but recorded a 7.3 per cent decline in units.

The July performance therefore points to broad-based but differentiated growth, with the largest therapy segments providing scale and faster-growing specialty segments adding momentum to the overall IPM.

Narayan Kulkarni

Narayan.kulkarni@mmactiv.com