Price is the key growth driver of Indian pharma market, shows AWACS data

Market set to grow by 2.5-5% in calendar 2022. could even hit 5% due to a strong seasonal sales such as anti-infectives, and impact of NLEM drugs price hike

Price growth is the major growth driver of the Indian pharma market, shows data from market research firm AWACS.

With a 10 per cent hike allowed for scheduled drugs (under price control) according to the wholesale price inflation this year, price hikes are likely to continue over the next 12-months gradually, and thus AWACS expects the Indian Pharma Market (IPM) to clock a 2.5 per cent growth in calendar 2022.

With a strong seasonal sales of anti-infectives and some other categories, impact of the NLEM (National List of Essential Medicines) drugs price hike may take the market growth to 5