In the domestic pharmaceutical industry, the least number of brands appeared in the past. In 2016, the area of 10.6 per cent has declined to 5.5 per cent. Pharma of Indian pharmaceutical market
About 3,932 brands were introduced and 386 branded treatments for most of the skin related diseases were introduced. Firms are believed to be focusing on Over the Counter i.e. OTC. In the year 2016, 4,516 brands were introduced in the domestic market, while in 2013, 3,751 brands were introduced.
Growth of the indigenous pharmaceutical industry was at the lower level in eight years as the GST was affected by the business and the delay in sanction of the products by the National Drug Cost Authority (NPPA) was also responsible for this. DG Shah, general secretary of Indian Pharmaceutical Alliance (IPA), representing India's largest pharmaceutical companies, said that about two-thirds of the new initiatives would contribute to the growth of the market. This year the new initiative was very low as the NPPA did not get approval from it. He had about 200 applications pending. According to market research firm AIOCD AWACS data, skin area, anti-infectious, cardiovascular disease etc. are in the forefront of brand offer.
In the year 2017, the vaccine (18.2 percent), the area of treatment of skin diseases (12.3 percent), diabetes (14 percent) etc. were among the fastest growing areas. For nearly five years, the field of treatment for diabetes has been a major and it is constantly registering double digit growth. In 2013, it reached the highest level of 23.8 percent. Since pharmaceutical companies are paying more attention to OTC medicines, therefore skin areas, vitamins, pain medicine, allergies etc. are the major areas where the highest medication was introduced. According to the report of Nicholas Hall 2017, the Indian OTC market is likely to grow 9% by 2016, according to compound annual growth and it will cross $ 6.5 billion.
Recently, Lupine, the country's second largest pharmaceutical company, entered the OTC, when it introduced 34-year-old brand softwares as an OTC product. In November, Torrent Pharma of Ahmedabad bought the Indian business of Unichem Lab, which has the famous OTC brand like Unionjime. Consumer Product Division headed by Nandini Piramal of Piramal Enterprises has also acquired Digiplex recently from Shreya Lifestyles. Piramal Consumer Units bought four OTC brands from Pfizer last year. Analysts said that attention is being given to the OTC area because doctors' slip has slowed down the sale of medicines sold.
About 3,932 brands were introduced and 386 branded treatments for most of the skin related diseases were introduced. Firms are believed to be focusing on Over the Counter i.e. OTC. In the year 2016, 4,516 brands were introduced in the domestic market, while in 2013, 3,751 brands were introduced.
Growth of the indigenous pharmaceutical industry was at the lower level in eight years as the GST was affected by the business and the delay in sanction of the products by the National Drug Cost Authority (NPPA) was also responsible for this. DG Shah, general secretary of Indian Pharmaceutical Alliance (IPA), representing India's largest pharmaceutical companies, said that about two-thirds of the new initiatives would contribute to the growth of the market. This year the new initiative was very low as the NPPA did not get approval from it. He had about 200 applications pending. According to market research firm AIOCD AWACS data, skin area, anti-infectious, cardiovascular disease etc. are in the forefront of brand offer.
In the year 2017, the vaccine (18.2 percent), the area of treatment of skin diseases (12.3 percent), diabetes (14 percent) etc. were among the fastest growing areas. For nearly five years, the field of treatment for diabetes has been a major and it is constantly registering double digit growth. In 2013, it reached the highest level of 23.8 percent. Since pharmaceutical companies are paying more attention to OTC medicines, therefore skin areas, vitamins, pain medicine, allergies etc. are the major areas where the highest medication was introduced. According to the report of Nicholas Hall 2017, the Indian OTC market is likely to grow 9% by 2016, according to compound annual growth and it will cross $ 6.5 billion.
Recently, Lupine, the country's second largest pharmaceutical company, entered the OTC, when it introduced 34-year-old brand softwares as an OTC product. In November, Torrent Pharma of Ahmedabad bought the Indian business of Unichem Lab, which has the famous OTC brand like Unionjime. Consumer Product Division headed by Nandini Piramal of Piramal Enterprises has also acquired Digiplex recently from Shreya Lifestyles. Piramal Consumer Units bought four OTC brands from Pfizer last year. Analysts said that attention is being given to the OTC area because doctors' slip has slowed down the sale of medicines sold.