Market for Diabetes Diagnostics and Therapeutics is Escalating

The unexpected rise in type-2 diabetes incidence will drive diagnostics and therapeutics market to US$33 billion by 2016.

With the world incidence of diabetes expected to increase exponentially in the coming years, new research shows a rapidly escalating market for diagnostics and therapeutics to manage the disease, according to the latest research from Kalorama Information (Rockville, MD, USA), an independent market research company.

Monitoring and testing products--which currently include small hand-held monitors plus disposable test strips and cartridges but is also moving into the newer non-invasive blood glucose assays--show the greatest potential for growth, with 2006 sales ringing up at approximately $18 billion. With the increased incidence of the disease--especially an unexpected increase of type 2 diabetes cases in U.S. teenagers and young adults in their 20s--and newer testing modalities, this sector of the market will exceed $25 billion by 2016.

The introduction of oral and inhaled insulin products in 2006 should play a major role in invigorating insulin sales through the end of this decade, impacting first the United States, then Japan and European nations. Similarly, oral hypoglycemics, a market underserved for years, will increase annually, albeit on a much smaller scale.

"While new technologies in the fields of transplantation therapy and genomics hold great potential for advanced treatment protocols, our market analysis shows that advances in the current therapeutic modalities show the greatest potential for market impact in the near term,” notes Kenneth G. Krul, PhD, the Kalorama report's author.


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