According to a survey released on Tuesday, the India pharmaceutical market (IPM) expanded 6.9% year over year in May, propelled by robust results in anti-diabetic, respiratory, and cardiac treatments.

MNCs increased 8.4 percent year over year in May, while Indian companies climbed 6.6%.

According to the Motilal Oswal Financial Services Ltd. study, acute therapy growth was 5% in May, marking the second consecutive month of subdued YoY increase.

Price/new launches/volume growth of 4.2%, 2.3%, and 1.1% YoY drove IPM growth for the 12 months that ended in May.

Multi-national pharmaceutical companies (MNCs) owned the remaining 83% of IPM as of May, with Indian pharmaceutical companies holding the largest share of 83%.

Compared to IPM, the top 20 pharmaceutical businesses in May had greater growth rates from JB Chem (up 11.6% YoY), Glenmark (up 11.8% YoY), and Ajanta (up 10.6% YoY).

With robust double-digit growth in important medicines like anti-diabetic/ophthalmic, Ajanta outpaced IPM. With a high performance in Cardiac/Ophthalmic/Antiparasitic, JB Chemicals outperformed IPM.

The industry saw YoY increase of 7.6% on a MAT basis. According to the report, acute therapies saw a 5% YoY gain in May, while chronic therapies saw a 10% YoY growth.

According to specialists at India Ratings, the pharmaceutical sector in India, which has become the biggest supplier of reasonably priced generic medications, is expected to expand at a rate of 7.8% annually in April 2025 due to robust demand and new products.

The nation’s pharmaceutical industry presently accounts for up to 20% of the worldwide pharmaceutical supply and is rated third in terms of volume and fourteenth in terms of value. The Indian pharmaceutical industry’s turnover reached Rs 4,17,345 crore in 2023–2024 after expanding at a steady rate of more than 10% per year over the previous five years.