Jun 18, 2012, 06.35 PM | Source: PTI
In an indicator of the growing prevalence of diabetes in India, the domestic diabetes drugs market for FY12 grew 22% at USD 700 million, according to a Credit Suisse report.
Estimates suggest that India is set to become the 'diabetes capital of the world' with the number of people with diabetes is likely to swell to 70 million from present 40 million, it said.
"The diabetes, ophthalmic and derma have the higher mix of fastest-growing molecules in FY12. The therapy split of molecules grew by 30 per cent, of which diabetes molecule grew 22% at USD 700 million," Credit Suisse research analyst Anubhav Aggarwal told PTI here.
The overall diabetes drugs market grew by USD 500 million and insulin by USD 200 million in the fiscal bygone, whereas the pharmaceutical industry is witnessing 25% growth in overall diabetes and 15% in insulin segment,Aggarwal said.
Among other therapy molecules, cardiac grew by 20%, pain and anti-invective 7%, resp-acute 5%, and oncology and gastro 3% each. The Credit Suisse report on speciality pharmaceuticals said Sun Pharma , Glenmark and Lupin have the best overall portfolios in India.
"Glenmark gets only one-fourth of its sales from chronic therapies and despite that it has the highest exposure in the fastest-growing molecules. Sun Pharma, too, has strong exposure to high-growth molecules and consistently gained
market share across the segments. Lupin and Glenmark also continued to gain market shares in the highest growth segment,the report said.
Among other leading pharma players, Dr Reddy's, Cadila and Cipla have high exposure to slow-growing molecules, it said.
According to the report, Dr Reddy's, Cipla and Cadila have almost 60% of sales coming from molecules growing less than 15%, which explains weak India sales growth for these firms, while leaders like Dr Reddy's and Ranbaxy slipped on growth trajectory in last two years due to market share loss.
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Sharmila Joshi of sharmilajoshi.com is of the view