India Diabetes Therapeutics Market Analysis

India Diabetes Therapeutics Market Executive Analysis

India's diabetes therapeutics market is expected to grow from $2.61 Bn in 2022 to $6.81 Bn in 2030 with a CAGR of 12.7% for the forecasted year 2022-30. The AYUSH, health and family welfare, and finance ministries in India are responsible for allocating the entire Union health funding. For 2023–24, the total budget for health across all three departments is $1.3 Bn. This is slightly less than the planned amount from the previous year, which was approximately $1 Bn. The revised estimate for the health sector was reduced to $111 Bn for the fiscal year 2022–23, which is significant given the budgeted allotment for 2022–23. All three departments experienced a decrease in funding when comparing the revised estimate to the budgeted estimate: AYUSH by 10%, Health and Family Welfare by 8%, and Finance by 46%. The temporary grant to support the COVID-19 vaccination and the health grant for the 15th Finance Commission was cut, which resulted in a significant decrease in the allocation through the Ministry of Finance in the revised estimate for 2022–23. The government views COVID-19 as a low threat and more than 70% of the Indian populace has received the full COVID-19 vaccination, which is the likely cause.

According to estimates from the World Health Organization, 19.4 Mn people in India had diabetes in 1995, and by 2025, this figure is projected to rise to 57.2 Mn or one-sixth of the global total. By 2030, the estimated numbers are 80.9 Mn. This is the reason why India is known as the diabetes capital of the world.

The initial medication course for type 2 diabetes is an oral antidiabetic drug (OAD). However, due to type 2 diabetes' progressive nature, a combination of two or more oral medications is typically needed over the long run, frequently as a precursor to insulin therapy. The most effective use of OADs is frequently constrained by safety and tolerability (particularly hypoglycemia) and weight increase. The cornerstone of diabetes care is insulin therapy. An incretin hormone called glucagon-like peptide-1 (GLP-1) is released by the L cells in the lower intestine. The pace at which GLP-1 is secreted is closely related to gastric emptying, and the amount of insulin released over the course of the day is closely related to GLP-1 secretion. The first GLP-1 receptor agonist in the incretin mimetic class, Byetta® (exenatide), provides effective therapy for people with type 2 diabetes. To obtain the desired result, the dose may be increased to 10 g subcutaneously twice daily from the starting dose of 5 g twice daily. Exenatide added to metformin and sulphonylureas has been shown in clinical studies to have positive effects. Exenatide has another benefit over most of the available treatments in that it causes weight reduction.

Market Dynamics

Market Growth Drivers

The growing consumer knowledge of diabetes symptoms and negative health effects is what is driving the country's diagnosis and drug treatment rates, which in turn is driving the growth of the Indian diabetes therapeutics market. The market development of diabetes in India is also being aided by the country's rapid urbanization and expanding healthcare infrastructure. Further accelerating the industry development of diabetes in India are the expansion of pharmaceutical contract manufacturing, low-cost drug production, and the introduction of advanced technologies. The National Program for Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases, and Stroke (NPCDCS) and the Ayushman Bharat scheme are two of the policies that the Indian government has put into place to promote the development and use of diabetes therapeutics. The Indian diabetes therapeutics market is anticipated to expand as a result of these policies.

Market Restraints

High research and development costs, technological advancements that render current medications ineffective or unmarketable, strict pricing policy, price control, IPR (Intellectual Property Rights) protection, and regulatory approvals in terms of quality control may hinder the India diabetes therapeutics market's growth during the forecast period.

Competitive Landscape

Key Players

• Sun Pharmaceutical (IND)
• Cipla (IND)
• Dr. Reddy's Laboratories (IND)
• Torrent Pharmaceuticals (IND)
• Zydus Lifesciences (IND)
• GlaxoSmithKline
• Novartis
• Novo Nordisk
• Sanofi
• Takeda Pharmaceutical
• Johnson & Johnson

Notable Deals

December 2022- The introduction of the first triple fixed-dose combination of Teneligliptin, Pioglitazone, and Metformin in India was revealed by Glenmark Pharmaceuticals. One frequently used DPP4 inhibitor is teneligliptin (dipeptidyl peptidase 4 inhibitors). The sustained release (SR) formulation of this FDC, sold under the trade name Zita-PioMet, includes the active ingredients teneligliptin (20 mg), pioglitazone (15 mg), and metformin (500 mg/1000 mg).

Healthcare Policies and Regulatory Landscape

While the Central Drugs Laboratory examines some medications, the Central Drugs Standard Control Organization (CDSCO) works with the Drugs Technical Advisory Board and the Drugs Consultative Committee to supervise manufactured goods as the authority. In order to achieve uniformity in the application of the Drugs and Cosmetics Act, the central authorities are in charge of approving new medications, carrying out clinical trials across the region, creating prescription regulations, checking the efficacy of manufactured drugs, coordinating the activities of State Drug Control Organizations, and providing expert advice. Conversely, state agencies are in charge of controlling the manufacturing, distribution, and marketing of medicines. This includes approving drug testing facilities, approving drug formulas for manufacture, performing pre-and post-licensing checks, and monitoring the manufacturing process for medications made by specific state units and those sold in the state. The 1940 Drug and Cosmetics Act and the 1945 Rules set up these agencies.