Market for anaemia drugs is seeing a robust growth in India, study shows

Anaemia drug market is expected to witness a robust growth with receding Covid-19 pandemic and increasing anaemia prevalence in the country.

Data available with market research organisation AWACS shows that the market may have a good revenue opportunity in the coming financial years after a temporary slump. The top five players, which represent 56 per cent of anemia drug market, witnessed a growth of 8 per cent year-over-year (YoY) during the past 12 months, AWACS data showed.

With a moving annual total (MAT) value of Rs 868 crore, Emcure is the major player in the space. The company witnessed a growth of 14 per cent YoY till June 2022. Other major companies, including Lupin, Alkem Laboratories and Procter and Gamble Health, saw a growth of 22 per cent, 6 per cent and 3 per cent, respectively. However, annual sales value of the second biggest player Franco declined by 10 per cent YoY to Rs 298 crore till June 2022.  

The consumption opportunities of anaemia drugs are immense if the findings of the recently released National Family Health Survey (NFHS-5) survey by union health ministry are considered. Government also provides supplements under its various programs.

According to the NFHS-5 survey, there has been an increase in anaemia across age groups, particularly among children and women. More than 57 per cent of women (age 15-49 years) and 67 per cent children (age 6-59 months) suffer from anaemia in the country, which carries the highest burden of the condition in the world. There has been an increase of 8.5 percentage points among children since the last survey (NGHS-4, 2015-16).  

“Haematinics [anaemia drugs] market is a robust Rs. 2945 crore market showing a value growth of 7 per cent. Though the market has shown a slight degrowth of 4 per cent, some of the top contributing molecules seem to be on a positive growth track for unit growth. If one looks at the four year growth trend, it is seen that the value growth had slumped in Covid times, which has now recovered in June '22,” said Sheetal Sapale, President Marketing, AWACS.

“Reason for the same may be dip in demand as there was conscious postponement of pregnancies during Covid times. Dip in income, in low income families [where anaemia is prevalent] may have lead to the population doing away with this household medical expense. As the economy is bouncing back, we see the growth in this category bouncing back, indicating a gradual pickup in pregnancy indication as well as in lower strata of society with anaemia as prevalent condition,” said Sapale.

Emcure and Franco are strong players in the haematinic market with almost 40 per cent market share. Their leading brands Orofer and Dexorange range continue to have a very strong position in this market. R B Tone from Medley and Autrin from Pfizer are also some of the legacy brands which continue to dominate the haematinics segment, according to AWAC.

In India, Emcure is one of the market leaders in gynecological, blood-related and anti-HIV drugs segment. The company’s major products are Ferric Carboxymaltose under the brand name Encicarb, an iron replacement medicine used to treat iron deficiency anaemia, and a Ferrous Ascorbate and Folic Acid combination, under the brand name Ferium XT, a tablet used to treat iron deficiency anaemia and folic acid or folate deficiency.  

Emcure is also one of the two officially licensed companies selling Ferric Carboxymaltose (FCM) molecule in India. This molecule was in-licensed from a Swiss firm Vifor, a global leader in iron deficiency and iron deficiency anaemia therapies.  

“The women’s health category has huge potential for growth and we have the largest market share in this space. Our Orofer XT and Orofer FCM products are part of our anti-anaemia Orofer franchise and we have tablets, syrups and injectables under this portfolio. The Orofer brand is also among the top 300 selling brands in India,” said Pratin Vete, President – India Business, Emcure Pharmaceuticals.

“With 50 per cent of the Indian women being anaemic, more robust and concerted efforts are needed to spread awareness on iron and folic acid supplementation programs for vulnerable groups to reduce the burden of anemia in the coming years,” said Vete.

While anemia is a global problem, there is much scope for pharmaceutical interventions in India to tackle the condition. The NFHS-5 data shows that the number was higher in rural India (68.3 per cent) compared to urban India (64.2 per cent). States like Gujarat (80 per cent), Madhya Pradesh (73 per cent), Rajasthan (72 per cent), Punjab (71 per cent) and Haryana (70.4 per cent) have seen the prevalence of anaemia at more than 70 per cent. Assam has fared worst, where the prevalence has gone up from 35.7 per cent in NFHS-4 to 68.4 per cent in NFHS-5, an increase of 32.7 percentage points, among children (age 6-59 months). Among women, the overall prevalence of anaemia is consistently high, at more than 50 per cent, in almost all subgroups. Anaemia varies by maternity status – 61 per cent of women who are breastfeeding are anaemic, compared with 52 per cent of women who are pregnant and 57 per cent of women who are neither pregnant nor breastfeeding.

“It is important to look at anaemia data granularly rather than mere state or district averages. It is important to understand which pockets do better and why and what can they offer in terms of learning for other regions. The actionable agenda under anemia mukt bharat (AMB) means anemia free India and other nutrition programs is much broader than what could have been actively pursued. This holds true both in terms of the doable activities and the actions yet to be initiated under newly launched schemes,” said Dr Shweta Khandelwal, Head Nutrition Research and Additional Professor, Public Health Foundation of India.

As per the statistics from Data Bridge Market Research, the iron-deficiency anaemia therapy market was valued at $3,166.05 million in 2021 and is expected to reach $1,1041.65 million by 2029, registering a CAGR of 16.9 per cent during the forecast period of 2022 to 2029.  

Also Read: Finance Ministry confident of 'good number' of income tax returns filing before July 31 deadline

Also Read: Delhi RERA asks DDA, DSIDC to get projects registered