Tue. Dec 7th, 2021

Growing awareness pertaining to health among the population is expected to drive the growth of India vitamin B1 market.

According to TechSci Research report, India Vitamin B1 Market By Product Type (Thiamine Nitrate Type, Thiamine Hydrochloride Type, Others), By Source (In-house v/s Contract Manufacturing Organizations), By Form (Tablet, Capsule, Injectable Solution), By Dosage Strength (50mg, 100mg, 250mg), By Distribution Channel (Online v/s Offline), By Application (Beriberi, Wernicke’s Encephalopathy Syndrome, Delirium, Others), By End User (Adult v/s Pediatric), By Company, By Region, Forecast & Opportunities, FY2026”, the India vitamin B1 market is expected to grow at a steady rate during the forecast period on account of the growing use of vitamin B1 in treating various disease conditions such as Wernicke’s Encephalopathy Syndrome, Delirium, Korsakoff’s Syndrome, among others. Additionally, vitamin B1 is also used as a feed supplement, thereby positively influencing the market growth through FY2026. Besides, supportive policies and schemes such as the establishment of bulk drug parks scheme and production linked incentive scheme are further expected to create lucrative opportunities for the market growth over the next few years. Government of India recently announced a production linked incentive scheme worth 6,940 crores. This scheme is announced to boost the bulk drug manufacturing in the country and reducing dependence on imports. As a part of this scheme government identified 53APIs which are being imported in the country from China. These APIs will now be manufactured in India and financial support is being provided by the government for the set up of new manufacturing facilities in the country which can manufacture these APIs. This will help India in becoming self sufficient and reduce the dependency on imports from China amidst Indo-China border tensions and COVID-19 pandemic. Also, the status of the local manufacturing companies will be improved as a part of this scheme. Another scheme, promoting the establishment of bulk drug parks in different parts of country wherein the government will be providing 70% of common infrastructural costs and 90% of the costs in case the facilities are being established in hilly regions such as North-Eastern states, Himachal Pradesh, Uttarakhand, among others was announced. The total amount sanctioned for this scheme is 3,000 crores. However, side-effects such as nausea, weakness, itching, warmth, skin discoloration, among others due to the consumption of vitamin B1 can hamper the market growth over the next few years.

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The India vitamin B1 market is segmented based on product type, source, form, dosage strength, distribution channel, application, end user, company and region. Based on form, the market can be fragmented into tablet, capsule and injectable solution. The tablets segment is expected to dominate the market since a single tablet can accommodate a higher dose of API compared to a capsule. Also, tablets having variable delivery of medication such as quick release, delayed release and extended release are available. While capsules are fast acting and have higher drug absorption. This in turn is expected to increase the demand for capsules. Based on distribution channel, the market can be bifurcated into online and offline. The offline segment is expected to dominate the market on account of the well established network of drug stores and pharmacies in the country where thiamine is available both as a prescription drug and as an over the counter medication.

Meteoric Biopharmaceuticals Pvt. Ltd., Alpspure Lifesciences Private Limited, GlaxoSmithKline Pharmaceuticals Ltd, DSM Nutritional Products India Pvt. Ltd., Crystal Pharma, Qualitek Pharma Pvt. Ltd., Biophore India Pharmaceuticals Private Limited, Prachi Pharmaceuticals Pvt. Ltd., Helichem Laboratories Pvt Ltd, Otto Chemie Pvt Ltd and others are some of the leading players operating in India vitamin B1 market.

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“India vitamin B1 market is expected to witness growth during the forecast period on account of the growing demand for the vitamin B1 supplements as an over the counter drug medication. Additionally, growing demand for thiamine in preventing the complications in the nervous system, brain muscles, heart, stomach & intestine, among others is further expected to spur the market growth over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based India management consulting firm.

India Vitamin B1 Market By Product Type (Thiamine Nitrate Type, Thiamine Hydrochloride Type, Others), By Source (In-house v/s Contract Manufacturing Organizations), By Form (Tablet, Capsule, Injectable Solution), By Dosage Strength (50mg, 100mg, 250mg), By Distribution Channel (Online v/s Offline), By Application (Beriberi, Wernicke’s Encephalopathy Syndrome, Delirium, Others), By End User (Adult v/s Pediatric), By Company, By Region, Forecast & Opportunities, FY2026”, has evaluated the future growth potential of India vitamin B1 market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India vitamin B1 market.

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