Anti-Malarials buck IPM growth trend, post 11.5% value decline in August 2026

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While India’s pharmaceutical market delivered a strong 10.7 per cent value growth in August 2026, not all therapy categories shared the momentum. Anti-Malarials emerged as the only therapy category to record both negative value and negative unit growth, highlighting continued pressure on demand in the segment.

According to Pharmarack Technologies data, the Anti-Malarials segment recorded 11.5 per cent negative value growth and 7.8 per cent negative unit growth in August. The segment had sales of around Rs 63 crore, accounting for less than 1 per cent of the Indian Pharmaceutical Market (IPM).

The decline stands out against an otherwise broadly positive therapy landscape. The overall IPM recorded sales of Rs 23,272 crore in August, with value growth of 10.7 per cent. Several major therapy categories recorded double-digit value growth, while a number of segments also reported positive unit growth.

The Anti-Malarials segment's simultaneous decline in both value and units suggests that the weakness cannot be attributed solely to pricing or product-mix changes. Instead, the numbers point towards softer underlying demand during the month.

The segment has also faced periodic volatility linked to seasonal disease patterns. Changes in the incidence of vector-borne diseases, weather conditions and treatment demand can have a direct impact on anti-malarial medicine consumption.

Commenting on the broader volume trend in the August market, Sheetal Sapale, Vice President – Commercial, Pharmarack Technologies, said, “Sales trends follow the normal seasonal pattern. But it is possible that at the same time last year the sales were much higher and against that volume the volume this year is lower. Hence lower growth.”

The August numbers also reveal an important distinction across therapy categories. While Anti-Malarials declined on both value and volume, several other therapies experienced unit contraction despite maintaining positive value growth. Gastrointestinal therapies, for instance, recorded 5.5 per cent negative unit growth but still delivered 2.7 per cent value growth. Respiratory therapies saw units decline by 5.6 per cent, while value grew 2.2 per cent.

Urology recorded the sharpest unit contraction among the larger categories, with 11 per cent negative unit growth, although its value still increased by 1.3 per cent. Anti-Neoplastics also posted a 4.2 per cent decline in units, while value grew 3.4 per cent.

This divergence indicates that declining volumes do not necessarily translate into declining market value. In several categories, price, product mix and newer introductions are helping offset lower unit consumption. Anti-Malarials, however, stands apart because both volume and value moved into negative territory.

The August performance therefore presents a mixed picture for India's therapy market: broad-based value growth continues, but pockets of volume weakness remain. The Anti-Malarials segment will be one to watch in the coming months to determine whether August's decline represents a seasonal correction or a more sustained slowdown in demand.

Narayan Kulkarni

Narayan.kulkarni@mmactiv.com