New Delhi: In what can be said as a cause of concern, the anti-diabetes and cardiac drug market has tripled in the last 10 years, a report published by Pharmarack stated. The report mentioned that the anti-diabetes medicine market, which was around Rs 5,000 crore in 2014, has surged to nearly Rs 17,000 crore. The size of the cardiac market has increased from around Rs 10,000 crore to nearly Rs 30,000 crore during the past 10 years.
The report said that the big brands which were already in the market became stronger over the years, while the entry of new brands from innovator companies also contributed to the rise of cardiac and anti-diabetes drugs sales. “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.
The report mentioned that the innovative treatment options for curing lifestyle diseases are becoming popular because they provide quick relief, symptoms are better controlled, side effects are minimal, stronger clinical trials support, and global acceptance.
The report informed that the cardio-diabeto drug market contributes to almost one-fifth of the overall pharma market in India today. The cardiac drug market recorded good growth in the entire pharma industry while the anti-diabetes segment also showed a positive streak.
“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.
As far as market share is concerned, the Indian pharmaceutical companies have an edge in the cardiac segment whereas multinational companies’ sales are relatively better in the anti-diabetes segment.
The report also highlighted that rising non-communicable diseases (NCDs) are burdening India’s 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.
India’s cardiac and anti-diabetes drugs market has jumped to nearly Rs 17,000 crore and to nearly Rs 30,000 crore respectively in the last 10 years. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
