Anti-Diabetes Market Hits 17,000 Cr, Cardiac 30,000 Cr Since 2014

The anti-diabetes market has tripled to almost Rs 17,000 crore, and the cardiac market has more than doubled to nearly Rs 30,000 crore from its 2014 levels of Rs 5,000 crore and Rs 10,000 crore, respectively. Sheetal Sapale, vice president of commercial at Pharmarack, mentioned that the market value has increased due to the introduction of cutting-edge medications which are priced higher and accessible to a larger audience.

Data from Pharmarack indicates that the market for cardiac and anti-diabetes drugs in India has grown over three times in the last decade. The research company's data shows that currently four brands have a turnover of at least Rs 200 crore, compared to zero a decade ago. In the diabetes sector, approximately 13 brands generate revenue ranging from Rs 200-400 crore.

"If I look at the contribution of these segments to diabetes, it becomes a little mind-boggling. Thirteen brands contribute to almost 26% of the diabetes market today. Imagine how big the brands have become," Sapale said.

According to the information, the quantity of brands in the diabetes field has increased by over 100% to 1,306 in 2018. Sapale stated that it is possible that since 2019, the patents of all the inventive molecules in the diabetes field began to expire, causing them to lose their exclusivity.

"The moment they started losing patents, many of the branded generics entered the market. And that's probably the reason why I see this doubling of the market number of brands. Here I have considered only the brands where the turnover is Rs 1-10 crore. But if I want to take the numbers below Rs 1 crore, I will actually get a lot of brands," she added.