The market for cardiac and anti-diabetes drugs in India has grown more than three times in the last decade, according to data from market research firm Pharmarack.
The anti-diabetes market has increased from around ₹5,000 crore in 2014 to nearly ₹17,000 crore today. Similarly, the cardiac drugs market has expanded from ₹10,000 crore to almost ₹30,000 crore during the same period.
Sheetal Sapale, vice president of commercial at Pharmarack, noted that the rise in innovative medicines, which are often more expensive and widely available, has contributed significantly to this growth.
The data shows that there are now four brands in the market with a turnover of at least ₹200 crore, a number that was nonexistent a decade ago. In the diabetes segment alone, around 13 brands have achieved a turnover of ₹200-400 crore. “It’s incredible to see how these brands have expanded,” said Sapale. “Together, these 13 brands make up almost 26% of the diabetes market.”
The number of brands in the diabetes segment has more than doubled since 2018, rising from 653 to over 1,300. Sapale explained that this increase may be linked to the loss of patents on innovative diabetes medications starting in 2019, which allowed many branded generics to enter the market. She mentioned that if we include brands with a turnover of less than ₹1 crore, the total number of brands would be even higher.
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