Indian biopharma industry HITS Rs 33K WITH 13% GROWTH IN 2020-21
$midst the pandemic, the Indian Biopharma Industry, with over 300 companies, has witnessed a good growth of 13 per cent, 2 per cent less than the previous year’s 15 per cent growth rate. This growth was largely driven by performance of the Indian biopharma companies which have done very well as against multinational companies. As a result, the Indian Biopharma Industry has crossed the Rs 33,000 crore mark for the year 2020-21 over the previous year’s figure of Rs 29,176 crore. The Indian Biopharma industry, comprising hormones, insulin, blood products and vaccines recorded a sales revenue of Rs 33,067 crore for the year 2020-21.
According to the Department of Commerce, government of India, the Indian vaccine players have increased their export share in 2020-21 to Rs 6492 crore as against Rs 5723 crore reported in 2019-20 registering a growth of 13.42 per cent. In 2018-19 India exported Rs 4453 crore worth human vaccines. In the veterinary vaccine space too, Indian companies have performed well with export figures soaring from Rs 233 crore in 2019-20 to Rs 253 crore in 2020-21. Indian companies have increased their export share of insulin injection in 2020-21 to Rs 372 crore from Rs 247 crore recorded in 2019-20 with growth of 50.47 per cent. Similarly, India has increased export of insulin and its salts in 2020-21 to Rs 229 crore from Rs 200 crore in 2019-20 registering 14.62 per cent growth. At the same time, during 2020-21, India imported Rs 1,538 crore worth insulin injection, as against Rs 1,328 crore the previous year registering a growth of 15.84 per cent.
Though India is a leading vaccine manufacturer, companies still imported Rs 2,628 crore worth vaccines in 2020-21 as against Rs 2,804 crore imported in 201920, registering a decline of 6.25 per cent. However, in the veterinary vaccine space India has increased its import figures by 8.38 per cent in 2020-21 to Rs 253 crore against Rs 233 crore reported in 2019-20. In the import of Hormones, Prostaglandins, Thromboxanes and Leukotrienes, Natural or Reproduced by Synthesis Derivatives and Structural Unit space, Indian companies have registered negative growth of 1.34 per cent with sales revenue of Rs 2,186 crore in 2020-21 as against Rs 2,215 crore recorded in 2019-20.
According to All Indian Origin Chemists Distributors (AIOCD) Pharmasofttech AWACS Pvt. Ltd, the overall Indian domestic biopharma (insulin, vaccines, hormones, and blood products) market registered less than one per cent growth in 2020-21 as against 10 per cent growth registered in 20219-10 with the vaccine (out of pocket) market witnessing a negative growth of 2.7 per cent, the insulin market witnessed 3.9 per cent growth, blood products recorded -1.4 per cent and hormones market recoded 1.4 per cent growth in 2020-21. Novo Nordisk India Pvt Ltd is leading the insulin market in India with sales revenue of Rs 1,467 crore in 2020-21. In the out of pocket market for human vaccine Glaxosmithkline Pharmaceuticals Ltd. is leading with sales of Rs 633 crore, followed by Sanofi India Ltd (Rs 432 crore), Serum Institute of India Ltd (Rs 141 crore), Pfizer Ltd (Rs 132 crore), Biological E Ltd (Rs 123 crore) and Bharat Serums Vaccines Ltd (Rs 105 crore). In the hormones market, Macleods Pharmaceuticals Pvt Ltd is leading the market with a sales revenue of Rs 393 crore, followed by Abbott India Ltd. at Rs 367 crore, Glaxosmithkline Pharmaceuticals Rs 323 crore, Pfizer Ltd Rs 301 crore and Zydus Lifesciences (formerly Zydus Cadila) Rs 270 crore.
In blood products there are over 100 companies doing business, while in the hormones space, too, there are about 140 companies in the business. In the insulin and vaccines space the number of companies are less than 20 and 35, respectively. In all these biological segments, foreign multinational companies are leading the domestic market. While Indian companies do have some presence, they need to do a lot of heavy lifting to catch up to the foreign biggies.