Improved therapies and novel drug delivery techniques set to expand diabetes market
Anticipated to revolutionise the global diabetes market by 2015, according to Frost & Sullivan
Improved therapies and innovative drug delivery techniques are anticipated to revolutionise the global diabetes market by 2015, according to research by Frost & Sullivan.
The organisation's Global Diabetes Market report says the sector earned revenues of US$27bn (Euro 19bn) in 2008 and estimates that this will rise to US$44.7bn (â"šÂ¬31.4bn) by 2015.
The emergence of newer classes of drugs to treat diabetes and their co-morbidities is changing the landscape of the diabetes market. Long-acting GLP-1 analogs are likely to gain significance and almost match the importance of insulin in the near future, the report finds. This trend is likely to be beneficial for Type-2 diabetics who have not responded to other oral anti-diabetic agents.
Obstacles to growth include the US FDA's stringent policies for the approval of diabetic drugs, which compel lengthier clinical trials, often resulting in the delayed launch of drugs and increased development costs. Other hindrances are generic competition, varying price controls across countries and parallel trading,
Despite these, the diabetes market is a lucrative segment of the healthcare industry, the report finds. Numerous innovative drugs and drug delivery devices are currently being researched and provided these are successful, their launch will further open up the market and boost revenue generation.
"Asian markets, especially India and China, offer tremendous prospects for growth," said Frost & Sullivan programme leader Sylvia Miriyam Findlay. "These markets have large diabetic populations and, with the number of undiagnosed diabetics increasing lucrative untapped opportunities are emerging for pharmaceutical companies."
