ORG IMS, the market surveillance and consulting company in India, has launched a first of its kind vaccine audit report addressing the vaccine manufacturers in the country to provide comprehensive vaccine market information.
The new product is developed to serve the vaccine manufacturers in India with specific details on the current market volume and potential of vaccine market in the country, according to Shailesh Gadre, managing director ORG IMS. The Indian private vaccines market is currently estimated at Rs 320 to Rs 340 crore in which, the top ten players out of the total of around 30 players occupy the major share, he added.
Having an advantage of its use as a preventive line, the vaccine market is currently growing in a fast pace globally and has a tremendous potential in the country. The private vaccines market in India, he stated, will have more growth in future considering that a large number of research projects are currently in pipeline in the country and the interest shown by both the Indian and multi national pharmaceutical companies in developing new vaccines for various infections and disease.
For the first time, the vaccine audit report has been developed by collecting information from dispensing doctors and distributors exclusively dealing with the vaccine products in the country. The company has been using retail and hospital audits to prepare its early reports. Identifying the exclusive distributors for vaccines and the dispensing doctors who play vital role in the domestic vaccine market has lead the company to prepare a comprehensive report on the segment, comments Gadre.
"As part of our policy to keep on refining our data collection and processing methods, have collected information of stockist sales to the retail outlets, hospitals and dispensing doctors. However, we have not included the public sector vaccine market in the audit which is mainly based on government tenders under various schemes. This is purely a private vaccines market report and the audit will be available at national level, on a quarterly basis," said Gadre.
The audit has also been urbanized using specifically developed statistical and production methodology to estimate the consumptions at all the outlets, to show the market volumes and potential at each of the outlets and evaluate the information against the vaccine manufacturing company's own portfolio performance.
With international and domestic players including Glaxo Smithkline, Ranbaxy, Zydus, Biological E, Serum Institute, Panacea Pasteur, sanofi-aventis, Cadila Healthcare, USV, Intas, Wockhardt, Wyeth, Unichem, Bharat Serum, Solvay Pharma, Dr Reddy's Biological E, BioMed and Alkem, India is expected to play a leading role in the vaccines market of the world.
India is among the major makers of vaccines while many countries including the US do not have regulatory guidelines and procedures in place for approval of biosimilars on the other hand Europe has shown a degree of flexibility in its approval of five biosimilars till date. The new vaccines market report will help the Indian companies to understand the current stature of the individual company and to figure the future plans by identifying the potentials, added Gadre.
Globally, the vaccine market is expected to top US$10 billion in 2008 and US$23.8 billion by 2012. Even as the paediatric vaccines have dominated this field for the past years, adult vaccines will see a big spike in the future. The increased uptake of influenza vaccines, hepatitis vaccines and cancer vaccines will have a major share in the vaccines market.