Type 2 Diabetes Incidence Will Drive Diagnostics And Therapeutics Market To $33 Billion By 2016
With the world incidence of diabetes expected to increase exponentially in the coming years, new research shows a rapidly escalating market for diagnostics and therapeutics to manage the disease, with combined sales in the major world markets expected to exceed $33 billion by 2016.
Monitoring and testing products -- which currently include small hand-held monitors plus disposable test strips and cartridges but is also moving into the newer non-invasive blood glucose assays -- show the greatest potential for growth, with 2006 sales ringing up at approximately $18 billion. The report projects that with the increased incidence of the disease -- especially an unexpected increase of Type 2 Diabetes cases in US teenagers and young adults in their 20s -- and newer testing modalities, this sector of the market will exceed $25 billion by 2016.
The introduction of oral and inhaled insulin products in 2006 should play a major role in invigorating insulin sales through the end of this decade, impacting first the United States, then Japan and European nations. Similarly, oral hypoglycemics, a market underserved for years, will increase annually, albeit on a much smaller scale.
"While new technologies in the fields of transplantation therapy and genomics hold great potential for advanced treatment protocols, our market analysis shows that advances in the current therapeutic modalities show the greatest potential for market impact in the near term," notes Kenneth G. Krul, PhD, the report's author.
Analyzing seven major world markets, Diabetes and Diabetic Complications focuses on the market applications of current and advanced monitoring technologies and therapeutics used in the treatment of diabetes (Type 1 and Type 2) and its major complications. It considers the options that they present, the progress that is being made in these fields, the reception these new products are likely to experience in the marketplace, and a comprehensive market forecast.