Diabetes Devices and Drugs: North America Guides Global Market at a 5.9% CAGR from 2013 to 2019 A global surge in diabetic population, coupled with technological innovations and extensive R&D activities, has boosted the worldwide market for diabetes devices and drugs, according to a report published by Transparency Market Research.The report, titled “Diabetes Devices and Drugs Market - Global Industry Analysis, Pipeline Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019�, indicates that registering a CAGR of 5.9% from 2013 to 2019, the global diabetes devices and drugs market is likely to grow from US$54.04 billion in 2012 to US$83.0 billion in 2019.
Diabetes is a group of metabolic disorders in which pancreas is not able to produce enough insulin (sugar metabolizing hormone) (type-1) or the body develops a resistance to produce insulin and is not able to utilize the produced insulin (type-2). This condition triggers various malignancies and diseases. Diabetes market is a consolidated market and the demand for various advanced devices and medicines is increasing steadily, owing to exponential growth in the prevalence of diabetes across the globe. This report is focused towards identifying the current scenario as well as the future market potential for diabetes drugs and devices globally. The global diabetes devices and drugs market is segmented into two segments, namely; diabetes devices and diabetes drugs class. Diabetes devices segment is divided into diabetes diagnostic and monitoring devices and insulin delivery devices. Diabetes diagnostic and monitoring devices class is further split into analog glucose meters, test strips, lancets and lancing devices, CGM devices and others. Insulin delivery devices class is divided into insulin pens, insulin syringes, insulin pumps and insulin injectors. The second segment of the market, that is, drugs class is fragmented into insulin derivatives, oral anti-diabetes drugs (OADs) and non insulin injectable anti-diabetes drugs. Insulin derivatives are categorized on the basis of their time of action, such as, rapid-acting, short-acting, intermediate-acting, long-acting and premixed insulin derivatives. Oral antidiabetes drugs are divided into sulphonylureas, biguanides, meglitinides, alpha glucosidase inhibitors, thiazolidinediones, DPP-IV inhibitors, and SGLT2 inhibitors. GLP-1 agonists represent the injectable anti-diabetes drugs class. The report also provides in-depth analysis of pipeline diabetes drugs.
Out of all the above mentioned diagnostic and monitoring devices, continuous glucose monitoring devices segment is expected to grow at a CAGR of 6.6% from 2013 to 2019. Insulin pen is a rapidly growing segment in the global insulin delivery devices market. The rising population of diabetic patients across the globe is the most important driver of the market, followed by extensive R&D practices. According to International Diabetes Federation (IDF), as of 2013, around 382 million people were diagnosed with diabetes, and the number is expected to grow to 592 million by the end of 2035. This rise in diabetic population propels the market growth. Further, due to extensive R&D practices in drugs and devices, large numbers of drugs (around 180) are under pipeline studies. Hence, the market is augmented to grow steadily during the forecast period 2013 – 2019. In addition, rising demand for SGLT2 inhibitors, DPP-IV inhibitors, GLP-1 agonists and long-acting insulin derivatives drive the market of drugs to higher end. In addition to existing drugs, drugs and formulations under pipeline studies (for example, U-300, Afrezza, Dulaglutide and others) are also considered and the forecast for these products is estimated considering their expected approval and commercialization years. Browse Full Research Report on Diabetes Devices and Drugs Market: http://www.transparencymarketresearch.com/diabetes-devices-market.html Geographically, in this report, the diabetes devices and drugs market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). Presently, the North American region is the largest market in the world, owing to the presence of large number of type-1 and type-2 diabetic patients, technological advancements and world-class medical infrastructure. However, Asia-Pacific region is considered as the most promising market during the forecast period 2013 to 2019. High incidence rate of diabetes, steady increase in medical expenditure, increased healthcare awareness towards self-monitoring and management of diabetes are some of the important factors supporting the growth of diabetes devices and drugs market in Asia-Pacific region. Globally, the market for diabetes devices is dominated by selected number of players, namely; F. Hoffmann La Roche Ltd., LifeScan, Inc. (J&J), Abbott Diabetes Care, and Bayer AG. In addition to this, some other important players that offer an important contribution to the total diabetes devices market include B Braun Melsungen AG and DexCom, Inc. Whereas, Novo Nordisk A/S, Sanofi, Eli Lilly and Company, AstraZeneca plc, Merck, Inc., and Takeda Pharmaceutical Company Limited are the key players having presence in the global diabetes drugs market.
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