Anti-diabetic Drugs Contributed To Growth in Pharmaceuticals Market

Anti-diabetic drugs are driving the development in the pharmaceuticals market, posting the most noteworthy worth development of over ₹155 crore among the new brands introduced in the previous year .The respiratory section, which clocked deals of ₹152.9 crore from 223 new brands in the 12 months ended April, arrived second, trailed by nutrient/mineral/supplements with ₹144.4 crore from 467 brands, as per IQVIA.

In the anti-diabetic category, 485 brands were introduced during this period. As per pharma specialists, the counter diabetes market throughout recent years has developed at 32% CAGR to ₹474 crore in January 2024. "There are many factors that are driving this trend," said Anoop Misra, chairman of Fortis C-DOC Hospital for Diabetes and Allied Sciences and director of National Diabetes Obesity and Cholesterol Foundation (NDOC), citing increasing number of patients and new combination of drugs being launched against diabetes.

He mentioned in places like Delhi and level two urban cities, patients favor blend medications and that might be a contributing factor. According to IQVIA report, a plenty of the new medication introduces are brand expansions of prior  well-established brands, as Omez (gaestrointestinal), Codistar (cough syrup), Zifi (bacterial diseases) Budamate (asthma drug), and Foracort (inhaler).

Subsequent to announcing lowest monthly growth in March 2024, the Indian pharmaceutical market (PM) month to month development bounce back to 8.8% in April, which is the fourth most elevated development over the most recent 13 months, IQVIA said.