Brazil's type 2 diabetes drug market set to grow to US$834m by 2013
US pharmaceutical industry researcher Decision Resources forecasts that the type 2 diabetes drug market in Brazil will double from US$417m in 2008 to US$834m in 2013.
US pharmaceutical industry researcher Decision Resources forecasts that the type 2 diabetes drug market in Brazil will double from US$417m in 2008 to US$834m in 2013.
The projected growth is attributed to a rising number of people becoming diabetic, increased use of diabetes drugs such as Januvia (Merck), Galvus (Novartis), Lantus (Sanofi-Aventis) and Levemir (Novo Nordisk), and the launch of agents such as Amylin (Eli Lilly) and Byetta LAR (Alkermes).
"Sales will be driven by the uptake of newer generation diabetics treatments, including dipeptidyl peptidase IV (DPP-IV) inhibitors such as Januvia and Galvus, as well as fixed-dose combinations containing these agents, and insulin analogues such as Lantus and Levemir," said Jing Wu, analyst at Decision Resources.
The anticipated launch of Byetta LAR, which offers greater weight loss and better efficacy in reducing glycosylated hemoglobin (HbA1c) but requires less frequent dosing than Byetta, will also drive sales.
"Because these drugs have no generic competitors in Brazil and enjoy premium pricing, a slight increase in use will drive rapid growth in revenue," added Wu.
Decision Resource's Type 2 Diabetes in Brazil Emerging Markets report also finds that diagnosis rates of type 2 diabetes in Brazil are far lower than in the major pharmaceutical markets of the US, France, Germany, Italy, Spain, the UK and Japan.
One of the key reasons for this is low disease awareness and poor understanding of symptoms, which patients from seeking treatment, says the report.
"This challenge in diagnosis rates of type 2 diabetes in Brazil is a great opportunity for Western drug companies," added Wu.
"Western drug companies should reach out and work with the Brazilian government to launch programmes that raise disease awareness and promote patient education among the general population in Brazil."
The new report contains primary research and epidemiology study in the key Brazilian pharmaceutical markets of Rio de Janeiro, Sao Paulo, Brasilia and Belo Horizonte.