“Launch of Anti TB drugs, introduction of IPV and several other vaccines in the national immunization programme to drive the India Pediatric Drugs and Vaccines Market”
India pediatric drugs and vaccine market has witnessed tremendous growth in the last five years largely due to high number of annual births recorded at around 25 million, launch of generic formulations of several pediatric drugs including flavored TB drugs, inclusion of several vaccines in the national immunization schedule of the country and inclining coverage of children vaccination under national immunization schedule.
Although a vast majority of the drugs sold in the country has been directed for the treatment of diseases as compared to management of the same. With rising prevalence of chronic diseases in the pediatric population of the country including diabetes and asthma, the market for drugs meant for management of diseases is deemed to incline at a faster pace in the near future.
Currently, procurement of pediatric drugs is almost entirely done through offline medium from hospital pharmacies, retail pharmacies, doctors or institutional health centers. Since the requirement of drugs is usually on an urgent basis, parents don’t prefer placing an order online and receive it a later date. However, online pharmacies have expanded at a steep pace in the last few years. Several players including the likes of Netmeds.com, 1mg, buydrug.in, Zigy, apollopharmacy.in and medidart.com have provided the much needed momentum to online retailing space. In the mid-long term, online sale of drugs is expected to witness healthy growth.
A large chunk of vaccines administered under the national immunization programme in the country are of the monovalent form. This includes monovalent oral polio vaccine, BCG, measles, Hepatitis B and Hib. Some other commonly used monovalent vaccines include rotavirus vaccine and TT. Monovalent vaccines therefore comprised for the maximum market share as of FY’2016. However, with the expected inclusion of pentavalent in the immunization programme and launch of several multivalent vaccines in the country, the market share of multivalent vaccines is expected to incline.
The market for pediatrics vaccine in India has grown at a tremendous pace in the last five years. With the introduction of new vaccines in the national immunization programme, the market is expected to perform even better in the next five years. Indian government, as per the recommendation of WHO, has included Injectable Polio Vaccine (IPV) in its Universal Immunization Program. Further, the usage of pentavalent vaccine has been expanded to all the states and union territories. India has an ambition to eliminate measles, introduce rubella (as part of Measles Rubella vaccine), rotavirus and pneumococcal vaccines in 2017 and potentially Human Papilloma Virus (HPV) vaccine and Japanese Encephalitis vaccine at a later time, impacting the total India pediatric drugs and vaccines market in a positive manner.
With expected launch of rotavirus vaccine by Serum Institute of India in FY’2017 and quadrivalent influenza vaccine by Sanofi in FY’2018 amongst other vaccines, the pediatrics vaccine market is expected to grow at a high pace. .
The report titled “India Pediatric Drugs and Vaccines Market – Rise in prevalence of chronic diseases and inclusion of several new vaccines in national immunization programme to Shape Future Growth” provides detailed overview on the pediatric drugs and vaccines market in India. This report helps readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report is useful for investors, pharmaceutical companies, contract manufacturers, startups, and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.
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Ankur Gupta, Head Marketing & Communications