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Pressnews.biz (Press Release) Sep 18, 2014
-- India Insulin Market Review to 2018 - Intensifying Strategic Alliances Between Companies presents a comprehensive analysis of market size by value of major types of insulin consumed in India. The report entails the segment wise market share analysis and company profiles of major players in the insulin market in India. The future analysis of the market has also been discussed in the report.
The economic advancement of any country is paradoxical in nature. While on one hand it increases the affluence of the masses, the other side is characterized by diseases that are accompanied by passive lifestyles. From the several diseases caused by a sedentary form of life such as cardiovascular ailments, hypertension and high blood pressure, diabetes is also increasing at an alarming rate, especially in the developing countries. India was resident to nearly 61.5 million people suffering from diabetes in 2013, which is the second largest in the world after China. The prevalence of diabetes has made it the fifth largest disease in India.
Diabetes in India is reaching epidemic proportions. Rapid cultural changes such as increasing urbanization, modified diet patterns and sedentary lifestyles among the young generation, have heightened the prevalence of diabetes in India. In 2013, while 61.5 million people suffered from diabetes in the country, another 30 million were in the pre-diabetes group. Medication for the diabetic population is the need of the hour since the disease is adding significantly to the mortality rate of India.
In FY’2008, the revenue generated by the sales of insulin in India was estimated to be USD ~ million and reached USD ~ million in FY’2013, following at a CAGR of 13.9% during the period. The Indian insulin market is witnessing development and has yet to mature. With a huge base of diabetic patients, it is anticipated that only 25% of this population is receiving treatment.
Unawareness backed by low affordability has left the major proportion of the diabetic populace to remain untreated. However, since higher disposable income is increasing the accessibility to healthcare services, enhanced diagnostics will further broaden the patient base, creating opportunities for insulin companies operating in India.
The diabetic population in India is largely treated with human insulin solely due to the fact that it is cheaper as compared to analog insulin. In FY’2013, human insulin held ~% of the total insulin market in India, generating revenue of USD ~ million. The revenue from human insulin registered a CAGR of 10.5% during FY’2008-FY’2013. Although the share of human insulin has been more since FY’2008, the market captured by analog insulin has been growing rapidly with a CAGR of 20.4% during FY’2008-FY’2013, increasing its share from ~% in FY’2008 to ~% in FY’2013.
India has become a very lucrative market for insulin multinationals. Companies including Novo Nordisk, Eli Lilly and Sanofi dominate the landscape and had a share of more than ~% in the Indian insulin market in FY’2013. With superior product portfolios and marketing strategies, the 3 companies have gained a monopoly over the market. Domestic enterprises including Biocon and Wockhardt therefore face stiff competition from the foreign counterparts.
Key Topics Covered in the Report
• The market size of India insulin market in terms of revenue
• Market segmentation by insulin replacement therapy and types of insulin
• Government regulation and support schemes for the Indian insulin market
• Pricing scenario of different insulin brands in India
• Trends and developments in India insulin market
• Growth drivers and challenges in India insulin market
• Market share of major players in the insulin market in India
• Market share of major players by types of insulin
• Company profiles of major players in the Indian insulin market
• Future outlook and projections of the insulin market in India
• Macroeconomic factors affecting the insulin market in India
Browse and Download Report Here - http://www.kenresearch.com/healthcare/pharmaceutical-industry/india-insulin-market-research-report/573-91.html