India Generic Drugs Market Trends, Size, Competitive Analysis and Forecast 2020-2026
India generic drugs market is estimated to grow at a CAGR of nearly 9.5% during the forecast period. A significant rise in the incidences of chronic diseases is driving the demand for generic drugs in the country. The National Cancer Registry Programme estimates that there will be 13.9 lakh new cancer incidences reported in India in 2020, which is expected to rise to 15.7 lakh by 2025. This leads to increasing demand for generic drugs that are playing a crucial role in cancer treatment. For instance, in everyday practice, patients with early-stage breast cancer, and children suffering from acute lymphoblastic leukemia are treated and cured with generics. In cancer care, generic drugs are also significantly used in supportive care beyond chemotherapy.
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The increasing prevalence of
diabetes is also supporting to drive market growth. As per the International
Diabetes Federation (IDF), the total cases of diabetes reported in adults in
India was nearly 77 million in 2019. This leads to increasing demand for generic
medicines for diabetes which include Tolazamide (Tolinase), Acetohexamide, and
Glimepiride (Amaryl). Additionally, several generic equivalents of the drug
metformin (earlier sold only as Glucophage XR or Glucophage) are now
available.
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·
Market number available for 2019-2026
·
Base year- 2019
·
Forecast period- 2020-2026
·
Segment Covered- By Application and Route of
Administration
·
Competitive Landscape- Mylan N.V., Teva
Pharmaceutical Industries Ltd., Lupin Ltd., Aurobindo Pharma Ltd., and Sun
Pharmaceutical Industries Ltd.
Recent
Strategic Initiatives in the India Generic Drugs Market
·
In July 2020, Cipla declared the launch of its generic
version of antiviral drug remdesivir, Cipremi, at $53.3 per 100 mg vial. This
makes it among the lowest cost versions for COVID-19 treatment and Cipla is
looking to deliver more than 80,000 vials within the first month.
·
In July 2020, Mylan launched a generic version
of Remdesivir drug, Desrem, in India for treatment of COVID-19 patients. This
drug will be available at a price of nearly $64.2 per 100 mg vial as against
Hetero’s Covifor at nearly 72.2 per 100 mg vial and Cipla’s Cipremi costing
nearly $53.3 per 100 mg vial.
India Generic
Drugs Market-Segmentation
·
Cancer
·
CVD
·
Musculoskeletal
Diseases
·
Infectious
Diseases
·
Neurology
·
Diabetes
·
Others
By Route of
Administration
·
Oral
·
Topical
·
Injectable
·
Inhaler
Company Profiles
·
Aurobindo
Pharma Ltd.
·
Biocon
Ltd.
·
Cadila
Healthcare Ltd. (CHL)
·
Cipla
Ltd.
·
Dr.
Reddy's Laboratories Ltd.
·
Glenmark
Pharmaceuticals Ltd.
·
Lupin
Ltd.
·
Mylan
N.V.
·
Sun
Pharmaceutical Industries Ltd.
·
Teva
Pharmaceutical Industries Ltd
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