Domestic pharma industry revenues expected to grow 6-8 pc next fiscal: Icra ...Middle East

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source : Business Standard ( Middle East ) () 37
Domestic pharmaceutical industry is expected to witness a revenue growth of 6-8 per cent in the next fiscal, rating agency Icra said on Thursday. Despite several disruptive events, the Indian pharmaceutical market (IPM) witnessed a healthy CAGR of 10.9 per cent between FY2012 and FY2022. "Going forward, ICRA expects revenues for its sample set to increase by 6-8 per cent in FY2024 against 3-4 per cent growth in FY2023," Icra Assistant Vice President & Sector Head - Corporate Ratings Mythri Macherla said in a statement. Structural factors such as ageing population and continued rise in lifestyle/chronic diseases, in addition to WPI-linked price hikes for NLEM products, new product introductio

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