Indian Pharmaceutical Market registers 10.2% growth in Jan 2026: PHARMARACK

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The Indian Pharmaceutical Market (IPM) maintained a steady growth trajectory, recording total sales of Rs 2,42,184 crore for MAT January 2026, reflecting a value growth of 8.0 per cent with a modest unit growth of 0.7 per cent, according to PHARMARACK. For the month of January 2026, IPM sales stood at Rs 21,208 crore, registering a healthy value growth of 10.2 per cent and unit growth of 1.8 per cent, supported by strong performances across key super groups.

On a MAT January 2026 basis, cardiac therapies remained the largest contributor to IPM value at 14 per cent, delivering a robust 13.2 per cent value growth and 4.7 per cent unit growth, underscoring sustained demand in chronic therapies. Anti-Diabetic therapies, contributing 9 per cent to overall IPM value, recorded a strong 9.9 per cent value growth and 4.1 per cent unit growth, while Respiratory therapies posted double-digit value growth of 10.3 per cent along with an impressive 7.8 per cent unit growth during the month. Neuro/CNS and Dermatology therapies also demonstrated stable performance, registering value growth of 9.4 per cent and 6.9 per cent respectively, supported by positive unit trends.

Further on a MAT January 2026 basis, select super groups emerged as key growth drivers, with Urology (15.5 per cent), Vaccines (16.7 per cent), Cardiac (13.2 per cent) and Anti-Neoplastics (8.4 per cent) recording strong value growth, while Vaccines and Anti-Neoplastics also witnessed sharp double-digit unit growth, indicating a healthy mix of volume expansion and improved realisations. However, volume pressures were visible in a few super groups during January 2026, with Gastrointestinal, Pain/Analgesics, Vitamins, Minerals and Nutrition, Hormones, and Sexual Health therapies reporting a decline in unit growth despite maintaining positive value growth, highlighting a largely price-led growth environment.

Overall, the IPM’s January 2026 performance reflects resilient value growth driven by chronic and specialty therapies, with super groups continuing to make meaningful contributions to the market, even as select segments experienced short-term volume softness.