A new market study, titled “Global Diabetes Market Research and Forecast, 2018-2023”, has been featured on WiseGuyReports.
Global diabetes market is expected to grow at a CAGR of 7.6% percent for the forecasted period of 2018-2023. The market is segmented on the basis of type of diabetes, drugs class and diabetic devices. Diabetic drugs have the highest market share amongst drugs and devices and are also expected to have the highest growth rate with a CAGR of 8.9%. Some of the top selling diabetic drugs include Lantus (Sanofi), Januvia (Merck And Co), Humalog (Eli Lily And Co), Novorapid (Novo Nordisk), Levemir (Novo Nordisk), Victoza (Novo Nordisk), Janumet (Merck And Co.), Novolog (Novo Nordisk), Humalin (Eli Lily And Co.) And Galvus (Novartis). With the diabetic population expected to cross the 350 million market by 2030 the market is expected to show strong growth rate. Diabetic drugs are highly priced which could be one of the major drawbacks.
Diabetic devices includes blood glucose meters and insulin delivery devices. The market for blood glucose meters will have the highest market share compared to the insulin delivery systems such as syringes and injection pens. Continuous glucose monitoring systems will have the highest market growth. Meter and strips are expected to dominate the overall market share in diabetic devices.
Overall the market is driven by growing burden of diabetes on economies. U.S. alone spends 11% of its health expenditure on diabetes. India and China are most affected by diabetes with over 120 million patients. A majority of diabetes patients are either undiagnosed or lack the basic treatment. The impending unmet needs are forcing the companies and governments to provide basic needs for diabetes. Research and development is ongoing to development long term solution for diabetes. Some of the leading manufacturers are trying to develop artificial pancreas. Currently CGMS devices are being used with insulin pumps as secondary prototype for artificial pancreas. It is expected that artificial pancreas will be ready for commercialization by next decade. Development of artificial pancreas has gained support from USFDA, which is a major boost for the market.
North America is the leading geography followed by Europe and Asia Pacific. Asia Pacific is expected to have the highest growth rate amongst the regions. North American market is driven by high awareness, availability of reimbursements and high expenditure on healthcare. Asia Pacific market is driven by high population of diabetic patients.
The report provides detailed & insightful chapters which include market overview, key findings, strategic recommendations, market estimations, patent analysis, pipeline analysis, market determinants, key company analysis, company profiling, market segmentation, geographical analysis, analyst insights and predictive analysis of the market.
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Market segments included in the report:
Diabetes by Type
Type 1 Diabetes
Type 2 Diabetes
Dipeptidyl Peptidase 4 Inhibitors
Blood Glucose Meters
Blood Glucose Strips
Insulin Injection Pens
Continuous Glucose Monitoring Systems
THE REPORT COVERS:
Comprehensive research methodology of Diabetes market
In-depth analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global Diabetes market
Insights about market determinants which are stimulating the global Diabetes market
Detailed and extensive market segments with regional distribution of forecasted revenues
Extensive profiles and recent developments of market players
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