IPM records 12.1% value growth in July 2026, led by anti-diabetics and anti-neoplastics: Pharmarack

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The Indian Pharmaceutical Market (IPM) recorded 12.1 per cent value growth in July 2026, signalling continued momentum across most major therapeutic segments, according to data from Pharmarack Technologies.

Sharing insights on the market, Sheetal Sapale, Vice President – Commercial, Pharmarack Technologies, noted that the IPM registered 12.1 per cent value growth in July, with the market showing broad-based expansion across therapies. On a moving annual total (MAT) basis, the IPM grew 10.2 per cent in value, while unit growth stood at 1.1 per cent.

The July performance was supported by strong growth across several high-value therapies. Anti-diabetic therapies emerged among the strongest large segments, recording 17.6 per cent value growth, followed by vitamins, minerals and nutraceuticals (15.7 per cent) and cardiac therapies (14.7 per cent).

Among the major therapeutic categories, anti-neoplastics recorded the highest value growth at 21.1 per cent, accompanied by 10.1 per cent unit growth. Vaccines also posted strong momentum, with value growth of 17.5 per cent and unit growth of 19.3 per cent. Urology recorded 14 per cent value growth, while neuro/CNS therapies grew 13.4 per cent.

The growth was not restricted to high-growth specialty categories. Respiratory therapies grew 11.2 per cent in value, while pain/analgesics increased 11.4 per cent. Gynaecological, blood-related and stomatological therapies recorded value growth of 10.9 per cent, 12.4 per cent and 12.5 per cent, respectively.

The three largest therapy segments by market contribution also maintained positive growth. Cardiac therapies, which accounted for 14 per cent of the market, grew 14.7 per cent in value. Gastro-intestinal therapies, with a 12 per cent contribution, grew 9.2 per cent, while anti-infectives, also contributing 11 per cent, registered 6.2 per cent growth.

However, growth remained uneven in a few categories. Gastro-intestinal and anti-infective therapies recorded declines in unit volumes despite positive value growth, while hormones registered negative unit growth of 7.3 per cent. Anti-malarials were the notable exception, declining 8.1 per cent in value and 6.2 per cent in units during July.

The data indicates that the IPM's July growth was increasingly supported by chronic, lifestyle-related and specialty therapies, with anti-diabetics, cardiac care and anti-neoplastic therapies showing particularly strong value expansion. At the same time, the relatively modest overall unit growth suggests that price and product-mix effects continue to play an important role in driving market value growth.

With the IPM maintaining double-digit value growth in July and several major therapy areas delivering robust performances, the market enters the second half of 2026 on a relatively strong footing.

Narayan Kulkarni

Narayan.kulkarni@mmactiv.com