Two-third of pharmaceutical and medical device manufacturing units have witnessed improved market conditions since last year, according to the findings of a survey conducted by IndiaMART Research Unit among micro, small and medium enterprises (MSMEs).
IndiaMART is a business-to-business online marketplace, with a registered membership of close to one million MSMEs.
About 22.2 percent of the respondents stated that market conditions have improved beyond expectations, while 61.1 percent said that there was an average improvement.
About 55.6 percent of respondents said that their sales had increased by up to 20 percent, while 33.3 percent termed the increase in sales higher compared to the previous year. Product prices have also seen improvement during the year.
Over 31.25 percent of respondents termed the improvement as significant, while an equal percentage described it as marginal. Around 18.8 percent, however, felt that prices were stable and the same percentage said prices had declined.
Input costs have also gone up. Half of the survey respondents found the increase in input costs significant. Since only 31.25 percent of the respondents stated that their product prices increased significantly, it indicates that increased input costs could have added pressure on the remainder of the players, as they did not pass on the entire burden of the input cost increases to their customers. experiences.