Global Diabetes Drugs Market and Diabetes Devices Market is Expected to Reach USD 114.3 Billion in 2018 : Transparency Market Research
Albany, New York (PRWEB) July 26, 2013 -- According to a new report published by Transparency Market Research, “Global Diabetes Market: Drugs & Devices (2011 – 2016)” the global market for Diabetes Management accounted for USD 41.9 billion in 2010 and is expected to attain a market size of USD 114.3 billion in 2016 following a growth rate of 18.2% CAGR.
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Diabetes is one of the major areas of concern worldwide. The rising number of patients is due to the ever increasing population. Currently, over 275 million people suffer from diabetes across the globe. This population is expected to exceed 350 million by 2030. As per the present scenario, the population within the age bracket of 40-59 years is the most affected. However, this age bracket is expected to shift to the age-group 60-79 years by 2030.
The global market for Diabetes Management accounted for USD 41.9 billion in 2010 and is expected to attain a market size of USD 114.3 billion in 2016 following a growth rate of 18.2% CAGR. Major products in this market consist of glucose meters, test strips, lancets, continuous blood glucose meters, syringes, insulin, insulin pumps and other insulin delivery devices and anti-diabetic drugs. Of these, insulin, test strips, glucose monitors and anti-diabetic drugs are the most revenue generating products.
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Among the different geographies across the globe, the U.S. forms the main source of revenue for this market contributing in excess of 1/3rd of the overall revenue. However, with the continuous economic growth of the Asia-Pacific region especially that of China, the contribution of the U.S. market is expected to drop by 5% – 7% within a period of 10 years from now.
The global increase in the prevalence of diabetes can be attributed to the fast development of economies of China and India as a major driving force for the diabetes care market. Besides these two countries, other Asian countries are expected to be major revenue generators for this market by 2030. According to our estimates, out of the 10 major countries with high diabetic population, 7 would be from the Asian region itself.
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Factors triggering diabetes in Asian countries with high population such as India and China are the rapid urbanization, drastic change in lifestyle of people – most follow a static lifestyle.Such a change in lifestyle is leading to obesity and naturally to an increasing diabetic population. Another contributory factor is the lack in awareness, diagnosis and treatment of diabetes. Countries with high population lead to expansion in the type-2 diabetic population worldwide.
For the past few years, Roche Diagnostics, Johnson & Johnson, Bayer Healthcare and Abbott Laboratories have continuously dominated the market. These four companies globally formed a market share in excess of 9/10th of the overall market in the year 2010 with remaining share is with the other Tier-II companies worldwide. This trend is expected to carry on likewise in the near future. However, the shuffling of some percentage of market shares among these four is expected.
Browse the full report with TOC at http://www.transparencymarketresearch.com/diabetes-devices-market.html
This report is an effort to identify factors, which will be the driving force behind the diabetes devices and drugs market and sub-markets in the next few years. The report provides extensive analysis of the industry, current market trends, industry drivers and challenges for better understanding of the market structure. The report has segregated the diabetes devices and drugs industry in terms of product and geography.
We have used a combination of primary and secondary research to arrive at the market estimates, market shares and trends. We have adopted bottom up model to derive market size of the global diabetes devices and drugs market and further validated numbers with the key market participants and C-level executives.
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Sheela AK, Transparency Market Research, http://www.transparencymarketresearch.com, +1-518-618-1030, [email protected]
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