In overall, the drug market has witnessed a growth of 10% in October, through a rise in demand for cardiac and anti-diabetic drugs, along with the increase in vitamins and minerals.
New Delhi/14.01.2021/HET Health Desk
The COVID-19 pandemic has created quite a hustle-bustle in the pharma retail market. Zincovit, the popular health supplement and the provider of essential vitamins and minerals, climbed up to the top of the ladder in the domestic pharma retail market and became the largest selling brand for the first time in October.
It is interesting to know that for the first time a multivitamin supplement has taken over the sales of drugs of common ailments such as diabetes, along with Human Mixtard (Novo Nordisk), Glycomet-GP (USV) and Lantus (Sanofi) and is dominating the market. Apex Labs, a not so popular 30-year old brand, Zincovit registered a high sale of Rs 50 crores during October and has dethroned Human Mixtard, the largest-selling brand, whose sale was around Rs 47 crore.
It is significant for a multivitamin supplement to top the retail sales as it also increases the month-on-month sales of Human Mixtard, led by a need to boost one’s immunity amidst a global pandemic, as stated by the industry experts. In overall, the drug market witnessed a growth of 10% in October, through a rise in prescriptions for cardiac and anti-diabetic drugs, along with the increase in vitamins and minerals. With an average sale of Rs 20 crore, Zincovit’s sale went up to Rs 50 crore, a 60% huge jump during the six-month period from April to October, as per the data by AIOCD Awacs.
The sales shot up sharply in the past six months since April when it was ranked 20th, then 11th position in June and with the sales of Rs 30 crore, and later was ranked 2nd in September. Its position dropped down to fourth in the month of November, compared to its 53rd position in January in the organised pharma retail market. We believed in the concept of immunity about 30 years ago and have been building the brand over the years. The category witnessed an unprecedented jump and, for us, has doubled over the 12-month ended November to Rs 340 crore. Zinc, a vital supplement, is also part of therapy for Covid-19 patients, ” the Chennai-based manufacturer’s head (marketing) Venkatesh Mallo told TOI.
There was a sale of around Rs 12,700 crore, the vitamins and minerals segment jumped nearly 23%, against the 16% sale in September. The immunity boosters have been amongst the highest purchase in India, with a high demand for brands containing Vitamin C and Zinc. According to MD Hari Natrajan, the founder of the research firm Pronto Consult, these high on-demand brands are Limcee (Abbott), Bevon (Zuventus), Citravite XT (Pharmed), Zincovit (Apex Labs), Celin (Koye). Multivitamins containing zinc witnessed substantial growth, sold by Zuventus (Emcure) and Alkem.