India’s emergence as a global hub of generic medicines and vaccine supplier has contributed highly towards the growth of the paediatric drugs and vaccines market. The paediatric market for drugs and vaccines has increased in terms of value from FY’2011 to FY’2016 at a CAGR of 18.1 per cent during the period, according to Ken Research.
In a latest publication “India Paediatric Drugs and Vaccines Market – Rise in prevalence of chronic diseases and inclusion of several new vaccines in national immunization programme to Shape Future Growth.” Ken Research provides a comprehensive analysis of the paediatric drugs and vaccines market in India and covers market size and segmentation of overall market by drugs and vaccines.
The report covers the further segmentations of different spaces such as drugs and vaccines into sub segments based on their individual characteristics. The report also covers detailed profiles of leading players in the different sub segments in the market. The potential and future outlook has been individually discussed for India Paediatric Drugs and Vaccines market. The report provides detailed analysis of segments, trends & developments, growth drivers and major restraints and challenges within the industry. The report also serves as a benchmark for existing players and for new players who wish to capitalize on the market potential and investors who are looking forward to venture into paediatric drugs and vaccines market in India.
Almost all pharmaceutical companies operating in the country had expertise in developing generic drugs so as to cater to the underprivileged populations at a much cheaper price. Generic drug therefore comprised a vast majority of the market share as of FY’2016 as compared to patented drugs.
India has a huge disease burden and a large part of drugs sold in the country was meant for the treatment of several infectious and non-infectious diseases prevalent in the paediatric population. Paediatric drugs were most commonly used for diarrhoeal diseases such as cholera and viral gastroenteritis. Respiratory diseases including pneumonia and tuberculosis were other commonly treatable conditions for which drugs found extensive usage in the country. Drugs sold for purpose of treatment of diseases accounted for maximum market share as of FY’2016. Owing to less prevalence of lifestyle diseases amongst paediatric population, market share of drugs meant for management of diseases has been low. Drugs meant for management of diseases were typically chronic diseases, particularly degenerative non-communicable diseases (NCDs) such as chronic respiratory diseases, cardiovascular diseases, cancer, HIV/AIDS and diabetes amongst others.
Antiinfectives were the most frequently prescribed drug class by paediatricians, with over 80 per cent prescriptions had some form of prescribed antibiotics. This was due to wide scale prevalence of respiratory diseases among children. Antiinfectives accounted for the largest market share as of FY’2016 as compared to anti-histamines, cardiovascular drugs and all other categories of drugs.
The market for paediatric drugs and vaccines was largely driven by drug manufacturing companies, owing to availability of large portfolio of drugs for treatment of several diseases as compared to a limited number of vaccines for prevention of some infectious diseases. High efficacy of vaccines has ensured prevention against diseases by virtue of few doses of vaccines. On the other hand, repeated incidence of some or the other non-vaccine preventable medical conditions coupled with comparatively heavy requirement of drug doses have resulted in a far greater usage of drugs.
“Strong government support to transform India into a global leader in end-to-end manufacturing, expected rise in sale of flavoured TB and antiretroviral drugs and increasing prevalence of diabetes and asthma in paediatric population are the major factors which are expected to drive the growth of India paediatric drugs and vaccines market in future. With promising growth prospects, the industry has created numerous opportunities for every stakeholder in the pharmaceutical ecosystem.”, according to a research Analyst at Ken Research.