The size of India’s cardiac and anti-diabetes drug markets has witnessed significant expansion, more than tripling in the past decade, according to a new report by Pharmarack. The report indicates that the anti-diabetes market, which was valued at approximately Rs 5,000 crore in 2014, has surged to nearly Rs 17,000 crore today. Similarly, the cardiac drugs market has grown from around Rs 10,000 crore to close to Rs 30,000 crore during the same period.
This growth in market size has been driven largely by the introduction of innovator molecules. While legacy brands have strengthened over time, the entry of new brands from innovator companies has played a critical role in expanding the market. Notably, the increase in the market’s value has outpaced its volume growth, signaling a shift in consumption patterns. Patients are moving from older, existing molecules to newer, more effective alternatives, the report notes.
Furthermore, the shift in consumption is not just limited to drug innovation; there is also a growing preference for online purchases of medications, which has contributed to the market’s expansion.
Lifestyle Diseases Drive Growth
According to the Pharmarack report, innovative treatment options for lifestyle diseases like diabetes and cardiovascular conditions are fueling value growth in these segments. The newer treatments offer several advantages, including faster symptom relief, better disease control, fewer side effects, and stronger clinical trial data. These innovations are being widely accepted not only in India but also globally, giving a boost to the demand for these drugs.
“The cardio-diabeto segment now contributes to nearly one-fifth of the entire domestic pharmaceutical market,” the report reveals. Over the past five years, the cardiac drug market has consistently outperformed the overall growth of the pharma sector, reflecting the increasing prevalence of heart-related ailments. The anti-diabetes drug segment has also shown strong performance, buoyed by the expiration of patents on key molecules, which has opened up opportunities for new players to enter the market.
Indian Companies Lead in Cardiac Drugs, MNCs Dominate Anti-Diabetes
The report underscores a clear divide in market dynamics between Indian and multinational companies. Domestic pharmaceutical companies maintain a stronger presence in the cardiac drugs market, enjoying a higher market share compared to their international counterparts. On the other hand, multinational corporations (MNCs) have a relatively better foothold in the anti-diabetes market, largely due to their expertise in introducing innovative molecules and treatments.
Non-Communicable Diseases: A Growing Challenge
India’s rapid urbanization and lifestyle changes have led to a sharp rise in non-communicable diseases (NCDs), including heart disease and diabetes. The Pharmarack report highlights that the growing burden of NCDs is becoming a major challenge for the Indian healthcare system. The impact of these diseases extends beyond healthcare, as they also stifle economic growth.
“It is estimated that India will lose a staggering $4.58 trillion by 2030 as a result of NCDs and mental health conditions,” the report cautions. This economic toll emphasizes the need for effective treatment solutions and the continued development of innovative therapies to combat the growing prevalence of lifestyle diseases in the country.
As India continues to grapple with the rising burden of NCDs, the cardiac and anti-diabetes drug markets are expected to maintain their upward trajectory, driven by both domestic and international players introducing newer, more effective treatment options.
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