With diabetes in India reaching epidemic proportions, the related therapeutics market is expected to grow at a double digit rate over the next five years. Higher disposable incomes have raised the incidence of this lifestyle disease, turning India into the world’s diabetic capital. Enhanced diagnostics will further broaden the patient base, and pharmaceutical companies that offer drugs with better efficacy and affordability will fare well in the market.
New analysis from Frost & Sullivanm ‘Overview of the Diabetes Therapeutics Market in India’, estimates the market revenues to reach $1.49 billion by 2016.
Rapid cultural changes, such as increasing urbanisation, modified diet patterns, and sedentary lifestyles among the younger generation, have heightened the prevalence of diabetes in India. With a rapidly expanding segment of aging people, the treatment pool for type II cases in particular is expected to grow, increasing uptake of non-insulin therapies.
“The market for new non-insulin and insulin therapies is gaining ground, as treatment outcomes improve,” said the Frost & Sullivan analyst. “Novel drugs such as incretin mimetics, glucagon-like peptide-1 (GLP-1) agonists, and dipeptidyl peptidase-IV (DPP-IV) inhibitors are also earning acceptance among physicians.”
The patent expiries of several existing drugs will actuate the launch of their generic versions. Although consumption volumes of these diabetes medications are expected to rise, their lower costs will not make significant impact on market revenues.
To boost the adoption of new drug classes, educational programs for both physicians and patients are necessary. Only a small percentage of the Indian population fully understands the disease, and government initiatives, such as the National Program for the Prevention and Control of Diabetes, Cardiovascular Diseases, and Stroke (NPDCS), aim to increase this percentage.
“The Indian government has also held mass early detection screening programs in 100 districts and 33 cities,” noted the analyst. “Patient compliance centres are addressing the challenges of expensive treatment, inconvenient modes of administration, and the unpleasant side effects of oral anti-diabetics. These initiatives will result in better diabetes management and increase patient share, fueling growth in the therapeutics market.”
EP News Bureau – Mumbai
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