India's Anti-Obesity Drug Market Experiences Slower Growth Following Initial Surge in Generic Sales
India’s anti-obesity drug market sees slower growth after initial surge in generic semaglutide sales
The Economic TimesImage: The Economic Times
India's anti-obesity drug market, driven by generic semaglutide sales, is experiencing a slowdown after initial rapid growth. Sales growth dropped to 12% in May from 88% in April, as affordability and physician training become key factors for future demand.
- 01Generic semaglutide sales growth slowed to 12% in May from 88% in April 2023.
- 02The anti-obesity market in India is valued at over ₹1,900 crore, with semaglutide and tirzepatide comprising over 90% of it.
- 03Doctors attribute sales slowdown to poor patient counselling and high treatment costs of ₹2,000-4,000 per month.
- 04Tirzepatide's sales recovered to ₹136 crore in May, showing resilience despite competition from generics.
- 05The market is expected to evolve gradually, with significant growth taking one to two years as training and infrastructure develop.
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India's anti-obesity drug market is entering a phase of moderate growth following a surge in generic semaglutide sales that began in March 2023. According to PharmaTrac, sales growth for semaglutide has slowed to 12% in May from 88% in April, as the initial rush of patients has subsided. The slowdown is attributed to several factors, including the original patent holder Novo Nordisk reducing prices for its products, which diminishes the price advantage of generics. Doctors have noted that the initial enthusiasm has waned, with many patients preferring the original semaglutide products due to only a slight price difference. The market, valued at over ₹1,900 crore, is primarily driven by semaglutide and tirzepatide, which together account for over 90% of sales. Despite fears of cannibalization, tirzepatide's sales have rebounded to ₹136 crore in May, showing its strength in the market. Experts predict that growth in the generic semaglutide sector will be gradual, requiring improved physician training and patient counselling over the next one to two years.
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The slowing growth in the anti-obesity drug market may affect patient access to affordable treatments.
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