How big is the women’s healthcare market in India? By how much is it growing?
|
Kumar Hinduja
|
The women’s healthcare market stands at Rs 4336 crores growing at 7.5 per cent value growth, while volume growth stands at -2.1 per cent, price led growth at 4.1 per cent and new introductions have been growing at 5.5 per cent.
Which therapy areas dominate the market? Why? Who are the major players?
Haematinics continues to dominate with a value of Rs 1500 crores and is growing at nine per cent value growth, progestrogens and combinations seen more progressive at 15 per cent value growth. Due to lack of innovation the market remained largely dependent on haematinics and hormones which together constitute about 80 per cent of women’s healthcare market.
|
Major Players
|
||
|
Company
|
FY 2013
|
VAL Growth FY 2013(%)
|
|
Zydus Cadila
|
338
|
7
|
|
Emcure
|
314
|
10
|
|
Sun
|
268
|
28
|
|
Franco Indian
|
216
|
25
|
|
Mankind
|
197
|
-3
|
|
Pfizer
|
180
|
0
|
|
Cipla
|
155
|
-44
|
|
Abbott
|
153
|
9
|
|
Novartis Intl
|
123
|
-10
|
|
Alkem
|
102
|
20
|
Typically how much of a company’s portfolio is attributed to women’s health? Has the market moved beyond contraception? Has the market matured?
On an average 11 per cent portfolio amongst the top 10 players is attributed to women’s healthcare, still there is high dependency on contraception seen in at least four of the top 10 players. The market is evolving slowly and not much is happening towards innovation.
|
Women’s healthcare Portfolio of major players
|
|||||
|
Company
|
Total sales
(in crores) |
WHC sales
(in crores) |
Contraception sales (in crores)
|
Value of WHC portfolio (%)
|
Value of contraception portfolio (%)
|
| Zydus Cadila |
3055
|
338
|
194
|
11
|
57
|
| Emcure |
1819
|
314
|
0
|
17
|
0
|
| Sun |
3638
|
268
|
71
|
7
|
27
|
| Franco Indian |
623
|
216
|
0
|
35
|
0
|
| Mankind |
2584
|
197
|
150
|
8
|
76
|
| Pfizer |
2478
|
180
|
94
|
7
|
52
|
| Cipla |
3814
|
155
|
85
|
4
|
55
|
| Abbott |
5245
|
153
|
0
|
3
|
0
|
| Novartis Intl |
1295
|
123
|
39
|
9
|
32
|
| Alkem |
2716
|
102
|
0
|
4
|
0
|
| DATA for FY 2013 | |||||
Are companies looking at newer products and therapies? Are they actively investing in R&D? Which companies stand out uniquely on these two parameters?
MNC’s typically are known to bring innovation, however, India companies continue to see me-too offerings. MNC’s are more careful now to bring their innovation in India looking into the patent and policy related issues.
|
New Products
|
|
|
Company
|
Total sales of NIs (in crores)
|
| Sun |
26
|
| Emcure |
21
|
| Bafna Pharma |
20
|
| Cadila Pharma |
17
|
| Alkem |
15
|
| Mankind |
10
|
| Sanzyme Ltd |
10
|
| Akumentis Health |
10
|
| Bharat Serum |
9
|
| Alembic |
5
|
| Zydus Cadila |
5
|
| Merck Limited |
7
|
| NI=New Introductions | |
| Data for FY 2013 | |
| NI value benchmark> 5crs | |
What are the challenges of operating in the segment for companies? Is it a revenue generating stream for companies and do you see more companies entering into the segment?
We see this segment largely crowded. There exists a constant movement of new entrants as well as players exiting segment ,thus the overall attractiveness remains less due to lack of innovation, high cost associated with sales force and manufacturing.
|
Women’s healthcare products sales in urban and rural areas
|
|||||||||
|
FY 2010
|
FY 2011/12
|
FY 2012/12
|
FY 2013/12
|
||||||
|
Urban/ Extra urban
|
Town class
|
Value (crores)
|
Value
growth (%) |
Value (crores)
|
Value
growth (%) |
Value (crores)
|
Value
growth (%) |
Value (crores)
|
Value
growth (%) |
| Urban | CLASS I |
1079
|
19
|
1239
|
15
|
1348
|
9
|
1481
|
10
|
| Urban | Metro |
921
|
22
|
1078
|
17
|
1147
|
6
|
1207
|
5
|
| Extra Urban | CLASS II to IV |
683
|
22
|
768
|
12
|
822
|
7
|
879
|
7
|
| Extra Urban | Rural |
429
|
14
|
626
|
27
|
717
|
14
|
769
|
7
|
| All India | All India townclass |
3175
|
20
|
3712
|
17
|
4034
|
9
|
4336
|
7
|
Who is the typical target audience here- urban or rural women? Statistics on this. Has the ratio changed over the years? How?
The market remains largely urban driven, the rural growth slowed down in 2013 significantly compared to previous years.
What does the future of the segment look like?
In the future we see
- New Introductions & Innovation drying up.
- Chronic therapies generating better growth & more players shifting focus to the chronic side.
- MNC’s will be more careful to bring innovative products in India post Glivec (Novartis) episode
- MNC’s increasingly not willing to spend on R & D in India.
- Contraceptive pills stagnate while consumption of non-contraceptive modes to grow
- Stringent MTP act & applications leading to reduced usage of MTP pills. MTP Kits have also moved towards doctor dispensing route from retail/trade channel.