India’s pharmaceutical market charged into 2026 with strong momentum, posting 11% YoY value growth to ₹20,836 crore in February, according to Pharmarack’s PharmaTrac Acquaint report. The moving annual total (MAT) reached ₹2.44 lakh crore, up 8.4%, propelled by price hikes (5.3%), new launches (3.5%), and volume gains (2.2%).[1][2][3]
Therapy Leaders and Anti-Diabetic Dominance
Cardiac held the top spot at 14.8% growth (₹2,937 crore), trailed by anti-diabetics surging 15.5% to ₹1,982 crore (9.5% IPM share) and vit/min/nutr at 13.3% (₹1,831 crore). Anti-diabetics shone via 13% new product acceleration, especially GLP-1 agonists like tirzepatide. Leading companies: Abbott (1st, outperformed therapy), USV (2nd), Sun Pharma (3rd, outperformed), Lupin (4th), Eli Lilly (5th).[2][1]
Therapy Top 5 Leaders Cardiac Torrent, Sun, Lupin, USV, Mankind[1] Anti-Diabetic Abbott, USV, Sun, Lupin, Eli Lilly[1] Gastro Intestinal Sun, Abbott, Torrent, Alkem*, Dr. Reddy’s[1]
*Outperformed segment growth. Chronic/sub-chronic segments captured 57% IPM share, reflecting lifestyle disease trends. South Zone led zonal growth on cardiac/anti-diabetic strength.[3][1]
Mounjaro Leads Amid GLP-1 Explosion
Eli Lilly’s Mounjaro (tirzepatide) topped sales at ₹399.7 crore monthly (cumulative ₹830+ crore), dominating GLP-1s at ₹1,446 crore MAT (178% YoY, 61% tirzepatide share). Semaglutide (Abbott’s Ozempic/Wegovy) follows; patent expiry mid-March eyes 2-3x volumes via 50+ low-cost generics. West Zone rules (38.5%, Maharashtra 27.6%); East offers upside. Acute brands: Augmentin (GSK), Zerodol SP (IPCA); chronic: Budecort (Cipla), Cilacar (JB Chemicals).[4][1][2]
New launches (5,351 SKUs, ₹5,108 crore MAT, 16.3% YoY) held 3.99% monthly share, anti-diabetics leading.[1]
Corporate Standouts and Outlook
Sun Pharma (14.1%), Intas (15.5%), Torrent (13.4%), Cipla (12.5%), Alkem (12.2%) topped among top 20 firms. Acute movers: Abbott (+1 rank); chronic: Eli Lilly (+14 via Mounjaro). IPM’s chronic pivot and GLP-1 access promise 8-11% sustained growth, despite supply challenges.[5][2][4][1]
MedicinMan take: Agile players
in
anti-diabetics/GLP-1 will redefine market leadership
Sources
Pharmarack PharmaTrac Acquaint Feb’26 report (attached PDF) – Core data on IPM, therapies, leaders, GLP-1.[1]
Business Standard (Mar 7, 2026), “Indian pharma market grows 11% in Feb as Mounjaro tops drug sales.” https://www.business-standard.com/industry/news/indian-pharma-market-registers-11-percent-growth-february-2026-126030800653_1.html – Growth stats, top drugs/firms.[2]
CareEdge Ratings (Mar 10, 2026), “Indian GLP-1 Market to Expand 5x in Next 5 Years” PDF. https://www.careratings.com/uploads/newsfiles/1773129818_Indian%20GLP%20Industry.pdf – GLP-1 projections, generics.[4]
LinkedIn/Pharmarack (Mar 6, 2026), “IPM Snapshot February 2026.” https://www.linkedin.com/posts/pharmaracktech_ipm-snapshot-february-2026-activity-7435936450086350848-3i8j – Market summary.[3]
BioSpectrum India (2026), “Cardiac remains top segment as IPM records 11% growth in Feb 2026.” https://www.biospectrumindia.com/news/16/27452/cardiac-remains-top-segment-as-ipm-records-11-growth-in-feb-2026.html – Therapy trends.[5]
All Images are AI Generated for Illustration Only. E&OE
