India Vildagliptin Market to Grow at a Steady Rate During the Forecast Period
Increasing diabetic
population to drive the growth of the India vildagliptin market.
According to
TechSci Research report, “India Vildagliptin Market By Composition, By
Source, By Strength, By Distribution Channel, By Application, By Company, By
Region, Forecast & Opportunities, FY2026”, the India vildagliptin market is expected to grow at a
steady rate during the forecast period on account of high usage of vildagliptin
to reduce hyperglycemia in patients suffering from type 2 diabetes mellitus.
Continuous growth in research and developmental activities is projected to fuel
the market growth through FY2026. Government initiatives and supportive policies
for the pharmaceutical industry are further expected to positively contribute
to the market growth in the forthcoming years. Furthermore, growing awareness
about anti-hyperglycemic drugs is making headway for the growth of the India vildagliptin
market in years to come. However, there are certain factors that might act as
major impediments to the growth of India vildagliptin market during the
forecast period such as side effects of drug consumption like nausea,
hypoglycemia, tremor, headache and dizziness. The patents for vildagliptin in
India, which were held by Novartis, got expired in December 2019, leading to the
opening up of the opportunities in the generic drug market and increasing
competition amongst competitors. This is projected to bolster the market growth
for India vildagliptin market in the forthcoming years.
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The
India vildagliptin market is segmented based on composition, source, strength,
distribution channel, application, company, and region. Based on the distribution
channel, the market can be fragmented into online vs. offline. The offline
channel is expected to dominate the market which is attributable to the fact
that consumers prefer buying medicines from a pharmacy or drug store located
nearby. The online segment is also expected to register significant growth over
the next few years. This can be ascribed to the emergence of several online
pharmacies and doorstep drug delivery by e-commerce platforms across the
country. In terms of application, the market is categorized into type 2
diabetes mellitus vs. hyperglycemia, out of which, type 2 diabetes mellitus held
the largest market share until FY2020 and is further estimated to maintain its
dominance in the next 5 years as well. This is accredited to a high percentage
of the population having type 2 diabetes mellitus in India.
Abbott India
Limited, Torrent Pharmaceuticals Limited, Intas Pharmaceuticals Limited, Dr.
Reddy’s Laboratories
Ltd., IPCA Laboratories Ltd., Lupin Limited, Piramal Enterprises Ltd. (Piramal
Pharma), Novartis India Limited, Cipla Ltd., Alembic Pharmaceuticals Ltd, and others are
some of the leading players operating in India vildagliptin market. The key
market players operating in the market are using organic go-to-market strategies
such as product launches, mergers and acquisitions, research collaborations, and
joint ventures to boost their market share and to expand their geographic
reach.
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“India vildagliptin market is
expected to witness steady growth in the coming years on account of rising disorders
of the musculo-skeletal system amongst the population. During all stages of pain
treatment, this drug is usually used in combination with sedatives,
antidepressants, and anti-epileptics as vildagliptin is the most commonly used painkiller.
Also, continuous innovation in the field of vildagliptin drugs for treating diabetes
in India is another key factor which is expected to create lucrative opportunities
for the market growth over the next five years.” said Mr. Karan Chechi, Research
Director with TechSci Research, a research based India management consulting
firm.
“India Vildagliptin Market By Composition, By
Source, By Strength (50 mg, 100mg, Others), By Distribution Channel, By
Application, By Company, By Region, Forecast & Opportunities, FY2026”, has evaluated the future growth potential of India vildagliptin
market and provides statistics and information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the India vildagliptin market.
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