Diabetes is a chronic disease characterized by high blood sugar level. It is caused by the improper functioning of the pancreas which secretes insulin. Diabetes is also known as diabetes mellitus. High blood sugar leads to increased thirst and hunger, and frequent urination. Lack of treatment for diabetes causes several complications such as diabetes ketoacidosis, heart disease, stroke, and kidney failures. Insulin infusion therapy is used to treat diabetes. There are three types of diabetes including type1, type 2, and gestational diabetes.
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In recent years, there has been an increased use of diabetes drugs due to rising prevalence of diabetes in various age groups. Increasing aging population, technological advancements, and increasing sales of novel drugs are some of the key factors driving growth of the BRIC diabetes drugs market. In addition, government initiatives to control diabetes are also fueling growth of the BRIC diabetes drugs market. However, high manufacturing cost of drugs and insulin devices is restraining growth of the BRIC diabetes drugs market. In addition, low awareness among people regarding diabetes treatment is also restraining growth of the BRIC diabetes drugs market.
China and India are dominating the BRIC diabetes drug market due to increasing diabetic population and increasing aging population in these regions. In addition, rising funds for diabetes control is also boosting growth of the diabetes drugs market in India. Brazil is expected to show lower growth rate due to patent expiry of various diabetes drugs.
Maintaining safety and security of patients while using diabetes drugs and drug infusion devices could be a challenge for growth of the BRIC diabetes drugs market. One of the recent trends in the BRIC diabetes drugs market is rising use of personalized drugs.
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Some of the companies operating in the BRIC diabetes drugs market are Abbott Laboratories, Biocon, Ltd, Eli Lilly and Company, Lupin, Ltd., and Sun Pharma Industries, Ltd. Other companies in the market include Bayer Healthcare AG, Roche Holding AG, Novo Nordisk A/S, and Aurobindo Pharma, Ltd.
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