India’s vaccine market is steadily recovering after the impact from Covid-19 and multinationals are back to slowly gaining traction, suggest data from research firm PharmaTrac.
With their higher priced products, the value market share of MNCs is growing faster than that of the local drug makers which are recording robust volume growth. British pharmaceutical firm GlaxoSmithKline is the leader of the vaccine market in India.
“The MNCs, even though with relatively slower value growths, are almost at par with the unit growth seen for the Indian corporates,” PharmaTrac said.
Indigenously manufactured vaccines are capturing the market share slowly, but some of the vaccines still remain an exclusive domain of MNCs, an industry expert said, citing the reason for this trend. Pfizer’s Prevenar 13 (pneumococcal vaccine) generated revenue of ‘61.3 crore in January, about three times the sales (‘21.2 crore) of the Pneuomocil vaccine from Indian rival Serum Institute of India (SII), show the data.
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