A new research paper about diabetes mellitus reveals that the market for monitoring and therapeutic products to care for diabetes and its major complications came to a total of nearly $40 billion in the top 7 world markets in 2004.
According to a new study released today from Kalorama Information.
The significant unmet need in this growing patient population has spurred an increase in competition and technological development, making for a dynamic mix of products and players for the years ahead.
According to kaloramainformation.com, so significant is the market opportunity that young companies-many small biopharmaceutical firms-are springing up to meet this challenge, dedicating their entire R&D efforts to diabetes alone.
New technologies and drug classes for the treatment of diabetes are being developed, as are methods of diabetes prevention for at-risk populations. It is a market brimming with opportunities and seeing increasing competition for those opportunities.
The new study, Diabetes and Diabetic Complications: Major World Markets, found significant geographic variation, however, in market opportunity.
Country-specific regulations, public health priorities, demographics, and patterns of clinical and reimbursement practice all contribute to the different growth rates and forecasts for diabetes-related products.
For example, glucose monitoring markets in most of the major industrial nations will experience sluggish growth over the next ten years; however, the same is not true of the glucose monitoring market in the United States, which will nearly double in that period, according to the study. Likewise, oral hypoglycemic medications will find much greater market opportunity in Japan and the United States, than in Western Europe.
The markets are currently dominated by the major pharmaceutical companies and one or two highly specialized suppliers” notes Kenneth G. Krul, Ph.D., the author of the studys report. However, this dominance is now threatened by a host of young companies striving to bring new products based on novel approaches to diabetes patients.”
The study analyzes four main segments-glucose monitoring, insulin, oral hypoglycemics, and drugs to treat four major complications of diabetes (hypertension, dyslipidemia, arrhythmias, and peripheral vascular disease. These market segments are thoroughly detailed and forecasted to 2014 for each of the top seven world markets-France, Germany, Italy, Japan, Spain, the United Kingdom, and the United States.
If you have $3,500, you can purchase the full report from www.kaloramainformation.com.