- June 20, 2014
-- Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘Cardiovascular Pharmaceutical Market in India 2014’. With a huge patient base, it is expected to show steady growth over the coming years.
The report highlights the analysis of the drivers and explains the factors for growth of the industry. Increasing patient population, patent expiry of blockbuster drugs, and introduction of newer and better drugs are the key drivers of this market. Cardiovascular pharmaceuticals is one of the leading therapeutic segments of the overall pharma industry and cardiovascular diseases (CVDs) are the top causes of deaths worldwide.
Growing incidences of cardiovascular diseases is helping the Indian market to grow and large pharmaceutical companies are trying to launch new patented blockbuster drugs to tackle the situation.Patented blockbuster drugs, after becoming generic, present a huge opportunity for growth. Generic drugs increase the affordability among patients, which helps in the growth of the market. The increasing disposable income of people are also helping to boost the market size. Some challenges faced by the industry are the internal competition between large pharmaceutical companies and competition from complementary and alternative medicines. Various government initiatives have been undertaken to reduce the drug prices and various tax reforms and control programs are promoting the growth of the market as well.