Global Market for Diabetes Therapeutics and Diagnostics

The global market for diabetes therapeutics and diagnostics is estimated at US$214 billion in 2008. This is expected to increase to more than $242 billion by 2013, a compound average annual growth rate of 2.5%. These are the findings of BCC Research (Wellesley, MA, USA), a publisher of market research reports and technical publications.

The global diabetes market is slated to become one of the largest healthcare markets over the next five years. The estimated 246 million people worldwide afflicted with diabetes at the end of 2007 demand healthcare products and services to manage this multi-factored and heterogeneous condition and its complications, and as such, the next five years promise to be a dynamic time for the global diabetes market. Industry leaders are expected to overcome technology barriers to bring non-invasive, insulin-based products to the market; software and data mining technologies continue to work in the market's favor by setting up a prototype of an artificial pancreas; and sales of insulin infusion pumps and lancing devices that feature a continuous glucose monitoring system are expected to be strong. These improved technologies should make prices more affordable to consumers.

The market can be broken down into applications of therapeutics, diagnostics, and all other interventions, which are the largest share of the market, expected to achieve an average annual growth rate of 2%. The second largest segment, therapeutics, and the diagnostics segment are expected to enjoy an average annual growth rate of 3%.

Diabetes, which already affects 246 million people worldwide, has zoomed from 30 million only two decades ago, leading to it being referred to as "the epidemic of the 21st century.” By the year 2025, it is expected to affect nearly 400 million people, about 7% of the world's adult population. Diabetes kills 3.8 million people a year - as many people as HIV/AIDS. Wherever poverty and a lack of sanitation drive families to low cost-per-calorie foods and packaged drinks, Type 2 diabetes thrives, according to a statement by the International Diabetes Federation (Brussels, Belgium). India and China currently have the highest number of diabetics, at around 40 million each. Type 2 diabetes is spreading the fastest in the Eastern Mediterranean and Middle East.


Related Links:
BCC Research
International Diabetes Federation