Global Market for Diabetes to Be Worth $51.2 Billion In 2015

Diabetes is a general term denoting excess secretion of fluid through the kidney.

Diabetes mellitus, the condition usually called diabetes, is a metabolic disorder whereby the mechanism for controlling levels of blood sugar is severely impaired or lost; the result is excessive excretion of water, and glucose, by the kidney.

There are two main types of diabetes mellitus:-

• Type 1 (insulin-dependent or juvenile onset diabetes)

It is an autoimmune condition in which the body wrongly identifies beta cells as being foreign and destroys them.

• Type 2 (non insulin-dependent or adult-onset diabetes)

Here insulin continues to be produced, but the tissues on which it should act no longer respond adequately to it.

Insulin, required for all cases of type 1 and some of type 2 diabetes, poses administration problems, offering opportunities for new delivery systems.

Patients with diabetes must monitor their condition by frequently checking the level of glucose in their blood, and there are ongoing attempts to make this process easier and more user-friendly by developing more advanced (and expensive) devices.

Patients with longstanding diabetes may develop complications affecting the eyes or kidneys (microvascular complications), nerves, or major arteries.

The diabetes market basically includes two elements:-

• Pharmaceutical

This aspect currently involves insulin and oral antidiabetic drugs.

• Medical device elements

This aspect consists of instruments for diagnosis and monitoring with their consumables, and a range of devices for administering insulin.

The main type of medical devices for diabetes in market place is:-

• Glucose Meters

These are used for measuring the amount of glucose in blood samples.

• Lancing devices

These are used to obtain the blood sample and single-use lancets.

There are various ways of monitoring the diabetes in type 1 as well as in type 2.

The minimum level of monitoring required for type 1 diabetes is once-daily testing for blood sugar so that insulin dosage and/or diet can be modified accordingly. Most methods of monitoring blood glucose require a blood sample, usually obtained by using an automatic lancing device on a finger.

The World Health Organization (WHO) predicts that developing countries will bear the brunt of this epidemic in the 21st century; more than 70% of people with diabetes live in low- and middle income countries.

The largest age group currently affected by diabetes is between 40 and 59 years. Diabetes is one of the major causes of premature illness and death worldwide. Non-communicable diseases including diabetes account for 60% of all deaths worldwide.

It is now one of the most common noncommunicable diseases globally and is the fourth- or fifth-leading cause of death in most developed countries.

The diabetes market consists mainly of insulin and insulin delivery devices, various classes of oral hypoglycemic agents, and different types of instruments and devices used for diagnosis and especially monitoring the level of diabetic control.

According to a new technical market research report, Diabetes Therapies and Diagnostics:  Global Markets (HLC029C) from BCC Research (www.bccresearch.com), the value of the global market for Diabetes was an estimated $35.5 billion in 2009, but is expected to increase to more than $51.2 billion in 2015, for a 5-year compound annual growth rate (CAGR) of 6.1%.

The largest segment of the market, Insulin products, including administration devices, is projected to increase at a CAGR of 6.1%, rising to nearly $22.0 billion in 2015, after being valued at nearly $15.5 billion in 2009.

The second-largest segment, Monitoring devices and accessories, is estimated at $10.5 billion in 2009, and is expected to increase at a 5-year CAGR of 4.5% to reach more than $14 billion in 2015.

The smallest segment, Oral hypoglycemic drugs, was valued at nearly $9.5 billion in 2009, and is projected to increase to nearly $15.1 billion in 2015, for a CAGR of 8.0%.

The scope of the report is broad and includes the implications of the upcoming trends, in the context of the current size and growth of the diabetes market, both in global terms and national markets. It covers the five-year global sales forecasts for main drug and device categories, and breakdowns for several national markets.

This report is useful to the individuals involved in the diabetes marketplace, including company senior management executives. It is also aimed at managers and executives in marketing, research, planning, and sales departments.

You can download the introduction chapter for free at http://www.bccresearch.com/report/HLC029C.html

About the Author: BCC Research is a leading publisher of market research reports and technical publications. Forthcoming report information can be found on our Web site at www.bccresearch.com

Article Posted By : Ankita Jain BCC Research is a leading publisher of market research reports and technical publications.