Pharmaceutical Sales Cross Rs. 1 Trillion in Pakistan

Pakistan’s pharmaceutical retail market reached Rs. 1.049 trillion in sales for the 12 months ending March 2025, reflecting a 20.62 percent increase in rupee terms and 23.14 percent in US dollar terms. 68.96 percent of this growth was driven by price hikes rather than increased consumption, according to IQVIA Pakistan’s Q1 2025 Market Access Tracker. Unit sales rose by just 3.63 percent year-on-year, reaching 3.77 billion units. Over the past five years, volume growth was only 5.49 percent, raising concerns about affordability. The industry’s compound annual growth rate over four years stood at 19.09 percent in rupees, but only 4.05 percent in dollars. National companies sold 2.91 billion units with a 4.98 percent increase in volume. Multinational firms sold 856 million units, down 0.72 percent, yet posted a 19.04 percent rise in sales value. October 2024 was the industry’s highest-performing month, with sales reaching Rs. 96.48 billion. Of this, national firms contributed Rs. 75.39 billion and MNCs Rs. 21.09 billion. A total of 87 companies crossed Rs. 1 billion in annual sales, accounting for 96.52 percent of the market. The top 20 firms earned Rs. 450 billion collectively, with a 42.92 percent market share and 23.28 percent annual growth. Companies earning between Rs. 10 billion and Rs. 40 billion added Rs. 348 billion to industry value, representing a 33.18 percent share and 15.7 percent growth. Firms above Rs. 5 billion in revenue brought in Rs. 124 billion, led by domestic players like Hilton, OBS, High-Q, PharmEvo, and Ferozsons. Abbott, GSK, Haleon, Novartis, and Novo Nordisk led performance, with 7 of the top 10 posting double-digit growth. In total, 636 new products were launched, 623 by local companies and 13 by MNCs, which contributed Rs. 7.15 billion in new revenue.