Is Sale Of Covid Related Products Declining ?

Chennai, 2 Feb 2021:

A market research survey conducted by the Mumbai-based Pronto Consult, a company doing marketing research in pharmaceuticals, has revealed that a gradual decline has started in the sale of Covid-19 related pharmaceutical products manufactured and marketed by big players in the country, in the last two months.

However, health related products seem to be keeping up its rise and many new products on health and immune boosting segments are emerging in the market. The sale of these new products depends largely on the usage and perception of the consumers. The reason for a drop in sales of Covid related products is that there is a reduction in the spread of infection in many states, says Dr. Hari Natarajan, market analyst and founder of Pronto Consult.

The market researchers find that, in spite of a dip in the sales of Covid related pharmaceutical products, the pharma sector is likely to bounce back with a growth rate of 15% in the ongoing fiscal in view of the rise in the consumption of medicines and immunity boosting pharma products. Resumption of functions in OPDs in hospitals and consultation in nursing centres, which had found a decline in the number of patients in the last 10 months, has also started. Besides, patients who had earlier postponed their non-emergency medical treatments, have now started visiting their physicians and getting prescriptions. Across the country, all the health centres, private clinics and big hospitals are functioning in full swing at present and the situation has induced the demand side of the pharma products.

Products for boosting immunity were the major sought-after items in the last one year and it became a separate segment in the product portfolios in all the pharmacies. The segment witnessed multiple launches in last year and its growth curve is going up. Pronto has seen that there is an increase in the consumption pattern of immunity boosters for the last 9-10 months.

But closely reviewing the survey report, Dr Hari said 12% of the feedback favours for a growth of 25% in the present FY, whereas 27% of those asked felt only 10% growth in the fiscal.

But the market analyst said although an immunity booster is a fast moving item in the market, new launches of the same do not support a sustained growth as the consumption pattern of the people is volatile. He said the pharma retailers are of the opinion that the consumers’ interest for buying immunity boosters has reduced in the last two months. But there is a slight increase in the sale of certain Ayush products for boosting immunities, according to his study.

Pronto’s research team has conducted the survey among various stakeholders in the Indian pharma sector including manufacturing companies, traders like wholesalers, distributors, marketers and the lowest pillar, retailers, as well as in the healthcare sector.Pharmabiz