The global diabetes treatment market is undergoing a significant transition driven by the advent of new analytical technologies and developments in diabetes treatment. There has been a drastic increase in the incidents of diabetes worldwide, owing to the rising level of sedentary lifestyles and obesity in global population. The submarkets such as human insulin and analogues are expected to maintain dominance in the overall diabetes treatment market.
The diabetes treatment products include injectable diabetes drugs, oral drugs, insulin therapies, insulin pumps, insulin injection devices, and blood glucose monitoring systems. In addition, a substantial number of emerging diabetes drugs is under clinical observation by large pharmaceutical companies that are expected to enter the market within the forecast period. In blood glucose treatment, drugs such as januvia and byetta, have exhibited efficacy profiles and good safety. In order to manage the critical insulin therapy virtually less painful, accurate, easy to use, and improved blood glucose monitoring systems are available in the market.
Increase in the incidence of type one and type two diabetes, is expected to fuel the diabetes treatment market. In addition, the development of type one and type two diabetes treatments are expected to remain profitable for pharmaceutical companies in the long or short term. An incentive for less affluent patients especially in the developing regions, price reductions and stimulate innovation are a few factors favoring the diabetes treatment market growth. Furthermore, the diabetic treatment market has a well-built R&D pipeline. Owing to the multifactorial aspects of diabetes, drug manufacturers developing medication for related problems such as kidney disease, strokes, heart disease, and obesity, are evaluating medicines in clinical trials for treating diabetes. With the expanded use of anti-diabetics, manufacturers can offer opportunities to tackle multiple disorders of metabolic disorders, benefitting the healthcare providers and patients. In addition, a medication that targets long term weight reduction and other related conditions is in high demand, owing to the cases of type two diabetes.
There are seven diabetes treatment submarkets namely, thiazolidinediones, sulphonylureas, meglitinides, DPP-4 inhibitors, biguanides, alpha-glucosidase inhibitors, and human insulins and analogues. In addition, the diabetic treatment industry is encouraging combinational drug treatments as monotherapy may lose its existence in the forecast period. Therefore, through technological and commercial progress, the diabetic treatment market retains the potential for increasing market growth.
Major industry participants include Teva Pharmaceuticals Pvt Ltd., Novo Nordisk AS, Merck & Company Inc., Medtronic Inc., Johnson & Johnson, Home Diagnostics Inc., Bayer Healthcare AG, Amylin Pharmaceuticals Inc., and Abbott Laboratories.
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