Indian pharma industry estimated to grow 9-11% in 2021-22: ICRA
The Indian pharma industry is estimated to grow at 9-11 per cent in 2021-22 and in the next few quarters, it will be driven by domestic and emerging markets, according to ratings agency ICRA. In a sample of 21 Indian pharmaceutical companies, ICRA NSE 0.01 % said revenue growth was moderate at 6.4 per cent in the second quarter of FY22, down from 16 per cent in the first quarter of 2021-22.
The normalisation of the base and pricing pressures in the US market were the major reasons for slowing growth momentum in Q2 FY22, even as growth under domestic and emerging markets remained healthy, ICRA said in a statement.
“Revenue growth for ICRA sample set is estimated at 9-11 per cent in FY2022 and in FY2023, supported by gradual recovery post the impact of COVID-19,” ICRA Assistant Vice-President and Sector Head Mythri Macherla said.