Diabetes Therapies & Diagnostics: Global Markets
- The global market for diabetes therapeutics and diagnostics increased from $208.5 billion in 2007 to an estimated $213.8 billion by the end of 2008. It should reach $241.9 billion by 2013, a compound annual growth rate (CAGR) of 2.5%.
- The global diabetes market will become one of the largest healthcare markets over the next five years, due in large part to the epidemic explosion of the type II diabetes population.
- Over the next five years, market leaders will overcome technology barriers to bring non-invasive, insulin-dependent products to the market.
BCC's goal in conducting this study was to determine the current status of the global diabetes market and assess its growth potential over a 5-year period from 2008 to 2013. Of particular interest were the market segment position of the diagnostics and therapeutics in relation to management of diabetic condition and diabetic complications for the fast growing global diabetic community, if the prediction of global epidemic prevalence of type II diabetes population is fulfilled.
In addition, BCC was interested in the market potential for new insulin infusion pumps, non-invasive insulin delivery methods, and the new class of incretin mimetics therapeutics for diabetes treatment as well as technology innovation for management of diabetes and diabetic complications.
The key objective was to present a comprehensive analysis of the current diabetes market and its future direction to meet the unmet demands of diabetic consumers.
SCOPE OF STUDY
This report contains:
- Descriptions of diabetes therapeutics including drugs for diabetes and diabetes complications, diabetes diagnostics including blood glucose testing devices and supplies, and all other interventions
- The current global market status for diabetes therapeutics and diagnostics, with trends and forecasts for growth over the next 5 years
- Technological issues including the latest trends and a thorough patent analysis
- Discussion of predictions of a type II diabetes global epidemic
- Company profiles.
BCC surveyed approximately 70 companies to obtain data for this study. Included were manufacturers of glucose monitoring devices, insulin lancing devices, insulin products, insulin-independent antidiabetic products, products for treatment of diabetic complications, all in FDA approved brand-name products or FDA approved generic products, and potential drug candidates moving up the ladder in clinical trials from Phase I to Phase IV. BCC also spoke with government agency regulators, industry personnel, and medical science personnel. In addition, data was compiled from current financial, legal, trade information, and government sources.
Ann Zhai was trained in oncology and is a registered patent agent with the United States Patent and Trademark Office. She has broad experience in business, capital markets, government regulation, and intellectual property law in the pharmaceutical, medical device, healthcare service, and consumer products industries.
The total market for diabetes drugs and devices is estimated at $18 billion in 2002. Growing at an average annual rate (AAGR) of 11.5%, the market is expected to exceed $30.7 billion in 2007.
Drug sales in 2002 are expected to be $12.5 billion, increasing to almost $21 billion by 2007 at an AAGR of 10.3%.
Insulin was 33% of the market in 2000 and is expected to hold on to that share.
Sulfanylureas and biguanides are expected to lose considerable market share to generics, newer classes of drugs, and to the extremely popular thiazolidinediones.
The two major diabetes medical devices are glucose monitors and insulin pumps. Glucose monitors are expected to rise at an AAGR of 13.7% to $8 billion by 2007. Insulin pumps are expected to grow to $1.8 billion by 2007 at an AAGR of 18.7%.