The Central Government is Considering Bringing Nutraceutical Product Under Price Control To Make Them More Affordable to Consumer. Nutraceutical Product In General Term We also Known Them as Health Supplements or Multivitamins Sold as OTC or Through Dr. Prescription . Till Now Government has No Control On Their Pricing Because It Comes Under FSSAI (food safety & standard association of India). But Now Government Plan To Formed a Panel to Address These Regulatory Challenges with Regard To Nutraceuticals is Looking at Ways to Regulate Their Prices.
Pharma Companies Took This Advantage & Launch & Sell These Nutraceutical Product on Higher Price or They Take One Pharmaceutical Active Ingredient(API) & mix It With Some Other Ingredient to Make It in Under Nutraceutical & sell Them as Multivitamin on Higher Price. At Present , There are No Rules & Regulations to Regulate the Prices of Nutraceutical Product . But This is Going to be Changed.
Now , Department of Pharmaceuticals are (DoP), Ministry of Food Processing Industries, FSSAI, the Drugs Controller General of India (DCGI), Director General of the Indian Council of Medical & Research (ICMR) Actively Discussing the Issue & will Soon Come with an Effective Solution to Regulate the Prices
According to Industry Data, The Nutraceutical Market in India is Estimated to Reach $18 billion by The end of 2025 as Compared to $ 4 billion in 2020.
A High Level Committee was Already Formed Earlier This Year to Review the Guidelines Related to These Products & Build a New Framework to Make These Nutraceutical , Health Supplements Under DPCO. Government May Form new Policy & Regulate The Prices of These Nutraceutical Products by This Year End or Earlier . If This Will Happen It Will be a Major Setback for Pharma Industry as Nutraceutical Products are Major Profit Contributor to Any Pharma Company.