INDIA AND OMAN PHARMACEUTICAL INDUSTRY MARKET ANALYSIS

India and Oman Pharmaceutical Industry Market, by Drug (Generic and Patented (Branded)), by Type (Prescription Drugs and Over the Counter Drugs), by Drug Class (Analgesics, Anesthetics, Antibacterials, Antidepressants, Corticosteroids, Nonsteroidal Anti-inflammatory Drugs (NSAIDs), Anticonvulsants, Antivirals, Anticoagulants, ACE inhibitors, Hormonal agents, Insulin, Contraceptives, Diuretics, Vaccines, and Others), by Application (Cardiovascular (Ischemic Heart Disease and Others), Hypertension, Musculoskeletal, Oncology, Anti-infective, Cirrhosis, Metabolic Disorder (Diabetes and Others), Weight Management, Central Nervous System, Genito-urinary, Kidney Disease, Gastrointestinal, Respiratory, Hematology, Dermatology, Ophthalmology, and Others (Nutraceutical, Dentals, and Gynecology)), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies and Online Pharmacies) and by Country (India and Oman) - Size, Share, Outlook, and Opportunity Analysis, 2021 - 2028

Published In : Aug 2021
Code : CMI4569
Pages :465
Formats :
Excel and PDF
Industry : Pharmaceutical

India And Oman Pharmaceutical Industry MarketSize and Trends

The India & Oman pharmaceutical industry market is estimated to be valued at US$ 47,179.5 million in 2021 and is expected to exhibit a CAGR of 12.7% over the forecast period (2021-2030).

Figure 1. India and Oman Pharmaceutical Industry Market Share (%) in Terms of Value, By Country, 2021

India & Oman Pharmaceutical Industry Market Report Coverage

Figure 2. India & Oman Pharmaceutical Industry Market Share (%), by Drug, 2020

Increasing number of product launches in the India pharmaceutical industry is expected to drive the market growth over the forecast period.

The increasing number of product launches in the India pharmaceutical industry is expected to drive growth of the India pharmaceutical industry market over the forecast period. For instance, in February 2021, Glenmark Pharmaceuticals, a pharmaceutical company in India, announced the launch of SUTIB, a generic version of Sunitinib oral capsules indicated for the treatment of kidney cancer in India.

The increasing prevalence of chronic diseases in Oman is expected to drive the market growth over the forecast period.

For instance, according to The Ministry of Health (MOH) report 2017, the number of recorded tumor cases in 2017 reached 2,101 including 1,892 (90.05%) cases among Omanis, 188 (8.95%) cases among residents, and 19 (0.9%) cases of Carcinoma in situ among Omanis. Furthermore, according to the similar source, the number of cancer cases among Omani males reached 887 (46.9%) compared to 1,005 (53.1%) cases among Omani females. 127 (6.7%) cases were registered among Omani children at the age of 14 and under in 2017.

India & Oman Pharmaceutical Industry market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency in 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, the number of COVID-19 cases reported in India as of July 8, 2021 are approximately 30,663,665 confirmed cases and 404,211 deaths. Moreover, according to the same source, the number of COVID-19 cases reported in Oman as of July 8, 2021 are approximately 278,560 confirmed cases of COVID-19 and 3,339 deaths. The major challenges faced by key players include supply of raw materials required for manufacturing instruments and reagent kits due to irregularities in transportation facility, irregular demand for products from the retailers due to increasing number of patients suffering from COVID-19 and other life threatening disorders.

Thus, to overcome the dependency of active pharmaceutical ingredient (API) and raw materials, the Indian government is focused on developing and manufacturing of raw materials and active pharmaceutical ingredients. For instance, in 2020, the government of India announced the incentive package of INR 13.76 billion (US$ 18.39 Bn) for the promotion of domestic manufacturing of critical key starting materials, drug intermediates, APIs, and medical devices in India. Moreover, according to the Directorate-General of Pharmacy and Drug Control Oman 2020, in Oman there was prohibition on the export of masks, hand sanitizers, and medical supply products to the other countries due to shortage of the pharmaceutical appliances and products in Oman.