/24-7PressRelease/ - New Delhi, India, August 31, 2008 - According to "Booming Pharma Sector in India", a new market research report by RNCOS, prevalence of chronic diseases is increasing at alarming rates in India, and is expected to create a huge opportunity for drug manufacturers.
The report says that market for drugs against acute indications presently account for around 75% of the total pharmaceutical sales. Owing to factors such as large scale prevalence of infectious diseases and poor hygiene and sanitary conditions, the market for drugs against acute indications will continue to dominate the overall market, but the growth of the chronic segment is expected to far exceed that of the acute segment.
Massive urbanization, sedentary lifestyles, growing cases of obesity, and an increased switch over from traditional to western diets has led to a rapid rise in the prevalence of chronic diseases in India. It's expected that by 2015, the country will have 62 Million coronary heart disease patients and 46 Million diabetes patients. Similarly, the number of people suffering from depression and other neurological disorders will also increase rapidly. This will make diabetes, cardiac and CNS drugs the fastest growing therapy areas in the Indian pharmaceutical market.
The RNCOS research report forecasts that the market for diabetes drugs is expected to grow fastest amongst all therapy areas at a CAGR of 16% between 2007 and 2011. Cardiac and CNS drugs are projected to be the second and third fastest growing segments, posting a CAGR of 15% and 12% respectively during the same timeframe.
"Booming Pharma Sector in India" is a unique market-based research study that provides a detailed insight and objective analysis on the Indian pharmaceutical market. It features a thorough statistical and analytical overview on the Indian pharmaceutical market, and provides past, present and future data on the entire structure, composition and working of the Indian pharmaceutical market. This study intensively discusses the opportunities and challenges that are expected to arise within and from the pharmaceutical market.
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