Indian Pharma Market Grows By 8% In 2022 Despite Price Hike

What does it mean? It means that despite an increase in prices, the pharmaceutical market in India has grown by 8% in 2022. This suggests that demand for pharmaceutical products in India remains strong, despite the price increases. It is possible that the growth in the market is due to a variety of factors, such as an increase in the number of people seeking medical treatment, an increase in the prevalence of certain diseases, or an increase in the availability of new and innovative drugs. Additionally, the growth of the pharmaceutical market in India could be influenced by a range of economic, social, and demographic factors, such as population growth, income levels, and healthcare infrastructure. Key takeaways As per AWACS, the Indian pharma sector had witnessed a rise of 8% despite the price hike in 2022. Price growth is one of the major drivers of growth of the Indian Pharma sector In the pharma sector, the new product launches showed a 2.2% growth, compared to 1...