Global Diabetes Devices Drugs Market Will Experience Accelerating Growth, Reaching Revenues of USD 83.0 Billion in 2019



According to a new market report published by U.S. based market research company, Transparency Market Research “Diabetes Devices and Drugs Market (Devices: Diagnostic & Monitoring and Insulin Delivery Devices, Drugs: Insulin Derivatives, GLP-1 and OADs): Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019” the global diabetes devices and drugs market was valued at USD 54.04 billion in 2012 and is estimated to reach a market worth of USD 83.0 billion in 2019 growing at a CAGR of 5.9% from 2013 to 2019.

Rising prevalence of diabetes is one of the important healthcare concerns on a global level. Insulin is a hormone secreted by pancreas to digest blood sugar. However, in diabetes, it is either not possible for the body to secrete insulin (type-1) or to utilize secreted insulin to metabolize glucose (type-2). The fact (disease conditions), that is, insulin deficiency with the disease is the most important propeller of diabetes devices and drugs market globally. Rising prevalence of diabetes and extensive R&D are the key factors that accentuated the growth of diabetes devices and drugs market. Since no permanent remedy for diabetes has been invented, insulin and drugs therapy, along with proper monitoring and diagnostics have become indispensible part of diabetes patients.

Diabetes devices market is divided into two segments, namely, diabetes diagnostic and monitoring devices and insulin delivery devices. Amongst the diagnostic devices segment, continuous glucose monitoring devices market is expected to grow at a higher growth rate, compared to others. By the end of 2019, test strips market is estimated as the largest in diagnostic and monitoring devices segments. However, market of lancets and analog glucose meters is expected to decline, due to outdated technology. In insulin delivery devices segment, insulin pen is identified as the largest market, followed by syringes. However, by the end of 2019 insulin pumps segment is expected to report highest CAGR.

Diabetes drugs market is segmented as insulin derivatives, oral anti-diabetes drugs and injectable drugs class. Amongst the insulin derivatives segment, long-acting derivatives segment is expected to grow rapidly in the upcoming period. As of 2012, it accounted for the largest market share with 42.77% of the entire market. It is also expected to be the largest segment by the end of 2019. This is followed by rapid-acting insulin market. It is important to highlight that the rest of the segments, such as, premixed, intermediate-acting and short-acting insulin derivatives are expected to decline during the forecast period. While in the oral drugs class segment, the market of SGLT2 inhibitors is expected to grow at an exponential CAGR of 76.8% during forecast period from 2013 to 2019, due to excellent effectiveness in glycemic control and less side-effects. However, traditional drug classes such as sulphonylureas, meglitinides, alpha glucosidase inhibitors and thiazolidinediones are expected to decline during the study period, owing to loss of patents and chronic side-effects. GLP-1 agonists represent injectable drugs class and are also expected to grow at a significant rate during the forecast period. In addition, the report also provides in-depth analysis of pipeline diabetes drugs.

Various products, such as, MK-1293 (Merck & Co., Inc.), LY2605541 (Eli Lilly and Company), IDegLira (Novo Nordisk A/S), Afrezza (MannKind Corporation), Dulaglutide and others are under pipeline studies and expected to enter the market during the forecast period. Hence, on entry of such newer and innovative formulations, the diabetes market is expected to grow steadily during the forecast period.

On the basis of geography, in this report, the diabetes devices and drugs market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). In 2012, the North American region was the largest market in the world, owing to increasing demand of technologically sound devices and sophisticated drugs and rise in diabetic population due to various factors, such as life style and others. However, Asia-Pacific region is assumed as the most promising market during the forecast period from 2013 to 2019. The growth is expected to be driven by factors such as rapidly increasing diabetic population, increased awareness towards self-monitoring and management of diabetes and growing technological penetration in the overall market.

Browse the full Diabetes Devices and Drugs Market report:  

The market is consolidated and highly dominated by selected players operating on a global level. Globally, the market of diabetes devices is dominated by selected number of players, namely; F. Hoffmann La Roche Ltd., LifeScan, Inc. (J&J), Abbott Diabetes Care, and Bayer AG. In addition to this, some other important players that offer an important contribution to the total diabetes devices market include B Braun Melsungen AG and DexCom, Inc. Whereas, Novo Nordisk A/S, Sanofi, Eli Lilly and Company, AstraZeneca plc, Merck, Inc., and Takeda Pharmaceutical Company Limited are the key players having presence in the global diabetes drugs market.

0 comments:

Post a Comment

Note: only a member of this blog may post a comment.

Latest Post

Market Research Reports