The Global Market for Diabetes Drugs and Devices is Booming: Expected to Attain a Market Size of USD 114.3 Billion by 2016
ALBANY, New York, November 1, 2011 /PRNewswire/ --
According to a new report published by Transparency Market Research (http://www.transparencymarketresearch.com), "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.
Brows full report at http://www.transparencymarketresearch.com/diabetes-devices-market.html
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.
Among the different geographies across the globe, the U.S. forms the main source of revenue for this market contributing in excess of 1/3rdof 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.
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.
Scope and Overview
The report provides extensive analysis and wholesome insights about the current market trends, developments including industry drivers & challenges and future outlook & growth opportunities prevailing in the global diabetes market. The report also covers the strategies followed by "Global Diabetes Market: Drugs and Devices" players.
Segmentation & Analysis
The report segments and analyzes the "Global Diabetes Market: Drugs and Devices" on the basis of following sub-categories:
- Geographic Markets
- U.S. Diabetes Market
- European Diabetes Market
- Asia - Pacific Diabetes market
This section provides in-depth analysis of different geographies pertaining to "Global Diabetes Market: Drugs and Devices" that includes market size and growth forecast for each geography, driving factors, challenges and opportunities prevailing in the particular geography.
- Drugs Market
- Injectables Market
- Oral Diabetes Drugs Market
- Injectables Market
This section provides in-depth analysis of anti-diabetic drugs market size and growth forecast for each sub segment, driving factors, challenges and opportunities prevailing in the overall and at the micro market levels.
This section provides in-depth analysis of anti-diabetic devices market size and growth forecast for each sub segment, driving factors and challenges prevailing in the overall and at the micro market levels, and opportunities and future outlook for all the levels.
- Competition & Future Trends
This section analyses the competition prevailing at each micro level and the detailed future outlook for the each sub segment of the market.
- Company Profiles of Top Ten Players
This section provides brief overview of top market players in the "Global Diabetes Market: Drugs and Devices". The profile of each company includes brief overview, key financials, product & services, recent developments and key strategies adopted by the player.
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