Irving, Texas (PRWEB) March 04, 2013
A growing middle class population, changing demographic profile, increase in number of consumers with medical insurance, expanding economy, and increasing GDP per capita are expected to provide enormous opportunities for diabetes drug manufacturers in the Asia Pacific (APAC) region. The global industry experienced robust growth over the last five years and is expected to witness good growth by reaching approximately US $56.9 billion in 2018 with a CAGR of 6.5% over next five years.
Lucintel, a leading global management consulting and market research firm, has analyzed the global diabetes drugs industry and presents its findings in “Global Diabetes Drugs Industry 2013-2018: Trend, Profit, and Forecast Analysis.”
The diabetes drugs industry is highly consolidated with all classes of drugs used for the treatment of diabetes. North America dominates this industry, as the region is the largest consumer of diabetes drugs and represented 41.3% of the global diabetes drugs industry in 2012.
A combination of factors such as technology innovations, medical insurance coverage, rising income, aging population, and changing lifestyle greatly affect industry dynamics. The industry registered 10.9% growth in 2012 due to rapidly aging population and regulators’ efforts to increase healthcare access to its population. An expanding patient pool and changes in treatment patterns have resulted in growth for the diabetes drugs industry.
Lucintel’s research indicates that APAC holds good growth potential for the future as India is expected to play an important role in the global economy. Demand from a growing population continues to drive consumption for diabetes drugs. Major pharmaceuticals companies are planning to invest in the Asian markets to gain market share for diabetes drugs.
As per the medical market report, there are several major drivers in the manufacturing area: growing per capita income and GDP with more government support, increasing diabetes cases, increased awareness, and changing demographics. The objective of all the strategies is discovery, manufacture, and commercialization of products that match the industry demands with regard to type, time, place, and price.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, growth challenges and cost efficiency.
Lucintel, a free webinar, “Growth Opportunities in Solar Photovoltaic Market 2012-2017,” on 7th March , 2013. Please click here for webinar registration.