Diabetes Therapies & Diagnostics: Global Markets

According to a new technical market research report, Diabetes Therapies & Diagnostics: Global Markets (HLC029B) from BCC Research, the global market for diabetes therapeutics and diagnostics will be worth $213.8 billion in 2008. This is expected to increase to over $241.9 billion by 2013, a compound average annual growth rate (CAGR) of 2.5%.

The market is broken down into applications of therapeutics, diagnostics and all other interventions. Of these, all other interventions have the largest share of the market. With an expected value of $105.9 billion in 2008, this segment should reach $116.9 billion by 2013, a CAGR of 2.0%.

The second largest segment, therapeutics, will grow from $97.2 billion in 2008 to $112.6 billion by the end of 2013, for a CAGR of 3.0%. Diagnostics will be a $10.7 billion segment in 2008 and will reach $12.4 billion in 2013, a CAGR of 3.0%.

The global diabetes market is slated to become one of the largest healthcare markets over the next five years. The estimated 205 million people worldwide afflicted with diabetes at the end of 2007 demand healthcare products and services to manage this multi-factored and heterogeneous condition and its complications, and the next 5 years promise to be an dynamic time for the global diabetes market.

Industry leaders will overcome technology barriers to bring non-invasive, insulin-based products to the market; software and data mining technologies will continue to work in the market\'s favor by setting up a prototype of an artificial pancreas; and sales of insulin infusion pumps and/or lancing devices with the feature of a continuous glucose monitoring system will be strong. Improved technology will make prices more affordable to consumers.