In an indicator of the growing prevalence of diabetes in India, the domestic diabetes drugs market for FY’12 grew 22 per cent at $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.
“The diabetes, ophthalmic and derma have the higher mix of fastest-growing molecules in FY‘12. The therapy split of molecules grew by 30 percent, of which diabetes molecule grew 22 percent at $700 million,” Credit Suisse research analyst Anubhav Aggarwal told PTI here.
The pharmaceutical industry is witnessing 25 percent growth in overall diabetes and 15 per cent in insulin segment, Mr Aggarwal said.
Among other therapy molecules, cardiac grew by 20 per cent, pain and anti-invective 7 per cent, resp-acute 5 per cent, and oncology and gastro 3 per cent 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.