The size of the cardiac and anti-diabetes drugs market in India has more than tripled in the last 10 years, said the latest report from Pharmarack. The report said that the anti-diabetes market, which stood at around Rs 5,000 crore in 2014, has jumped to nearly Rs 17,000 crore now whereas the size of cardiac market has grown from about Rs 10,000 crore to nearly Rs 30,000 crore during the same period.
The increase in market size is primarily led by innovator molecules. “While legacy brands have become stronger over the years, entry of brands from innovator companies have also contributed to some extent to this phenomenon. The volume has not increased in the same proportion as value which indicates the shift of consumption from the existing molecules to newer molecules. There’s also some component of shift to online sales,” the report said.
As per the report, innovative treatment options in the lifestyle diseases are driving the value growth because they provide faster relief, have better control over symptoms, have lesser side effects, stronger clinical trials support, and global acceptance.
“The cardio-diabeto segment contributes to almost one-fifth of the overall domestic pharma market today. Over the past five years, the cardiac segment growth has been better than the overall pharma market growth. The anti-diabetes segment also shows a positive streak over the past five years with good amount of action due to molecules going off patent in this segment,” the report said.
In terms of market share, the Indian companies have a relatively stronger dominance in the cardiac segment whereas MNCs have relatively better share in the anti-diabetes segment.
The report said that India is grappling with a growing burden of non-communicable diseases (NCDs), which poses a significant challenge to the healthcare system. “NCDs also hamper economic growth. It is estimated that India will lose $4.58 trillion before 2030 as a result of NCDs and mental health conditions,” the report adds.
