On December 1, 2011, the FDA released a draft guidance on the development and approval pathway for an artificial pancreas.
Vancouver, BC (PRWEB) January 31, 2012
According to a new report by iData Research (http://www.idataresearch.net), the leading global authority in medical device market research, the U.S. diabetes diagnosis, treatment and drug delivery device market was valued at almost $12 billion in 2011 and is expected to reach almost $18 billion by 2018. The fastest-growing segment of this market in 2011 was continuous glucose monitoring (CGM) systems, followed by insulin pens. The demand for diabetes-related devices will continue to grow as the number of diabetics and awareness regarding the importance of blood glucose management increases. In addition, the FDA approval of new products, particularly the artificial pancreas, will encourage further expansion of this market.
“On December 1, 2011, the FDA released a draft guidance on the development and approval pathway for an artificial pancreas,’ says Dr. Kamran Zamanian, CEO of iData. “Companies such as Medtronic, Johnson & Johnson, Mayo Clinic and Insulet were among 20 plus companies with artificial pancreas systems with investigational device exemption (IDE) applications. Developments in this area over the forecast period may have a significant impact on the overall diabetes treatment market.”
The report also states that continuous blood glucose monitoring systems experienced strong, double-digit growth in 2011 and will continue to see strong growth due to increased awareness, as well as an obesity epidemic in the U.S. that is fueling the number of diabetes cases. Medtronic and DexCom dominated this market.
“The continuous glucose monitoring systems market is expected to grow at double-digit rates over the forecast period, primarily driven by growing awareness and acceptance of CGM, as well as a growing diabetic population,” says Dr. Zamanian. “In addition, continuous glucose monitoring systems offer a major advantage for diabetics who have widely fluctuating blood glucose levels such as those experiencing nocturnal hypoglycemia or severe insulin sensitivity.”
Additionally, the report states that the U.S. market for insulin pens increased by over 18% in 2011. Unit sales of insulin pens are expected to grow at double-digit rates over the forecast period, as newly diagnosed diabetics who are prescribed insulin become better informed of the conveniences of an insulin pen. Novo Nordisk, Eli Lilly and Sanofi are battling for control of his lucrative segment.
For more information, register free on iData’s website at: http://www.idataresearch.net/idata/registration.php
iData’s 3-report series on the: “Markets for Diagnosis, Treatment and Drug Delivery 2012” provides a comprehensive analyses of the following segments: traditional blood glucose meters, continuous glucose monitoring systems, blood glucose test strips, lancets and lancing devices, insulin, insulin syringes, insulin pens and insulin pumps as well as emerging technologies.
About iData Research
iData Research (http://www.idataresearch.net/idata/discoveridata.php) is an international market research and consulting group focused on providing market intelligence for medical device, dental and pharmaceutical companies. iData covers research in: diabetes, patient monitoring, dialysis, cardiovascular, endoscopy and more.