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Diabetes Drugs Market at a CAGR of about 7.5%
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The diabetes drugs market, valued as a USD 20 billion market in 2010, is expected to grow at an exponential rate and become a USD 32 billion market by 2017, at a CAGR of about 7.5%.
Diabetes, often referred to by doctors as diabetes mellitus, describes a group of metabolic diseases in which the person has high blood glucose (blood sugar), either because insulin production is inadequate, or because the body's cells do not respond properly to insulin or both. Patients with high blood sugar typically experience polyuria (frequent urination), and become increasingly thirsty (polydipsia) and hungry (polyphagia). Diabetes is a chronic metabolic disease wherein the body is either not able to produce insulin (type-1) or is not able to utilize the generated insulin (type-2). This elevated sugar level leads to various symptoms such as increased thirst, weight loss, increased appetite and frequent and sweet-smelling urination. If untreated, diabetes causes various acute and chronic life-threatening complications.
Global Diabetes Drugs Market- Market Dynamics
This report studies the current as well as the future scenario of the diabetes diagnostic devices and drugs market globally. The report details several driving and restraining factors for this market. Some of them are listed below.
Drivers
Some of the factors driving the growth of this market are:
Rise in the number of diabetics
Complexities in alternative diabetic therapies
Strong encouragement from the governments
Restraints
There are some restraining factors that the market faces. These include:
Regulatory framework issues
Lack of awareness among people
Cost sensitivity issues
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The market is segmented on the basis of diabetic drugs, devices, and geography. The diabetic drugs market is again segmented into categories, which are insulin derivatives and oral diabetic medication drugs. On the basis of geography, the market is segmented into North America, Europe, APAC and the Rest of the World.
Some of the key players in the market are:
Abbott Laboratories
AstraZeneca PLC
Bayer Healthcare AG
Dexcom Inc.
GlaxoSmithKline PLC
Johnson & Johnson
Key Deliverables in the Study
Market analysis for the diabetes drugs market, with region-specific assessments and competition analysis on the global and regional scale.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the market on both global and regional scale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
Insights on the major countries/regions where this industry is blooming and to also identify the regions that are still untapped.
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