Mankind Pharma targets women's health, fertility market

Popular pregnancy test kit Prega News-maker Mankind Pharma is targeting growth in the women's healthcare and fertility market. The company’s portfolio already includes various women's health and fertility-related products such as Unwanted-72, an emergency contraceptive pill; Nufol, a folic acid supplement for prenatal health; and Dydroboon, a branded version of Dydrogesterone for treating progesterone deficiencies.

To enhance its market position, Mankind Pharma has recently acquired a 100% stake in Bharat Serums and Vaccines Limited (BSV) from Advent International for approximately Rs 13,630 crores. BSV offers a range of products across Women's Health, Fertility, and Critical Care, covering the lifecycle from fertility to post-pregnancy. BSV’s presence in the Indian and international fertility markets, especially amid increasing IVF procedures, complements Mankind Pharma’s strategy.

"BSV’s acquisition will support our position in the Indian women’s health and fertility segment. We see significant opportunities in this sector with positive growth prospects globally," said Rajeev Juneja, Vice-chairman and Managing Director of Mankind Pharma Ltd. He noted that BSV's Specialty R&D Tech Platforms and its diverse portfolio align with Mankind Pharma's expansion strategy.

Mankind Pharma also has some other products related to women's health including Dutan for menstrual disorders, Clear Gel for vaginal hygiene, Unwanted Kit for medical termination of pregnancy, and Fertisure-F and Fertisure-M, nutritional supplements supporting fertility in women and men, respectively. This range has contributed to Mankind Pharma's strong presence in India's women's health and fertility market.

The Indian women's healthcare market is growing, driven by increased awareness and rising infertility issues. According to Grand View Research, the market was valued at approximately ₹31,000 crores in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2024 to 2030. The global market is projected to reach ₹3,40,000 crores by 2028, growing at a CAGR of 9.8% from 2023, according to MarketsandMarkets.

In the fertility sector, Market Research Future estimates the Indian market to be worth ₹2,360 crores in 2023, with a projected CAGR of 12.2% through 2028. Globally, the fertility market is expected to grow to ₹2,71,000 crores by 2027, expanding at a CAGR of 10.2% from 2022, according to Global Market Insights.

“Factors such as late marriages, planned delays in conception, stress, and unhealthy lifestyle habits have contributed to increased infertility. The removal of the stigma around discussing infertility has also contributed to growth in this sector," noted Sheetal Sapale, Vice President at Pharmarack.

Mankind Pharma has shown significant growth over the past five years, with turnover rising from ₹6,400 crores to ₹10,550 crores. "The company has shown a consistent double-digit growth rate for the past three years, with a five-year CAGR of 13%," added Sapale.

Pharmaceutical analysts indicated that Mankind Pharma’s capabilities in manufacturing complex molecules like Dydrogesterone would further strengthen its position in the women's health segment.  "The company generated annual sales of approximately ₹250 crores from Dydroboon over four years," said research analysts Tushar Manudhane and Akash Manish Dobhada from Motilal Oswal Financial Services.