The Immunosuppressants market in India has been growing steadily over the past few years.
Customer preferences: Patients suffering from autoimmune diseases such as rheumatoid arthritis, psoriasis, and multiple sclerosis are the primary customers of immunosuppressants. These patients require long-term treatment, and hence, prefer cost-effective drugs with minimal side effects. Additionally, the increasing geriatric population in India has also contributed to the growth of the market.
Trends in the market: The Indian immunosuppressants market has witnessed a shift towards generic drugs due to their affordability and accessibility. Moreover, the Indian government has implemented various policies to promote the manufacturing of generic drugs, which has further boosted the market growth. The market has also witnessed the introduction of biosimilars, which are gaining popularity due to their efficacy and cost-effectiveness. The trend towards personalized medicine has also impacted the market positively, as patients can now receive customized treatment based on their genetic makeup.
Local special circumstances: India has a large population suffering from autoimmune diseases, which has created a high demand for immunosuppressants. However, the market is highly fragmented, with a large number of small and medium-sized players. This has resulted in intense competition, which has led to price wars and a focus on cost-cutting measures. Additionally, the lack of proper regulations has resulted in the availability of substandard drugs, which has affected the reputation of the market.
Underlying macroeconomic factors: The Indian pharmaceutical industry has been growing at a rapid pace due to the increasing demand for affordable healthcare. The government has implemented various policies to promote the growth of the industry, such as the "Make in India" initiative, which aims to promote local manufacturing. The rise in disposable income and the increasing penetration of health insurance has also contributed to the growth of the market. However, the COVID-19 pandemic has impacted the market negatively, as the focus has shifted towards the treatment of the virus, and patients have been hesitant to visit hospitals for other treatments.
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.Additional notes:
Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.
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