The Diabetes Market Will Reach $75.02bn in 2020

Monday 15 August 2016, Amsterdam

A new report, now available on ASDReports, forecasts the world diabetes market will reach $75.02bn in 2020.That revenue prediction and others appear in Diabetes World Drug Market Report 2016-2026: Insulin and Insulin Analogues, DPP-4 Inhibitors, Biguanides, GLP-1 Agonists, Alpha-glucosidases, SGLT-2 Inhibitors, Sulfonylureas and Others, published in July 2016.

The analysis predicts the diabetes market will continue to grow at a CAGR of 8.97% from 2015-2020, driven by the injectable drugs segment. In 2015, Lantus was the leading diabetes drugs with revenues of $7.13bn. Insulins and insulin analogues will remain as the leading drug sub market throughout the coming decade.

The market for diabetes drugs will expand much more rapidly due to the aging of the general population, poor dietary habits and sedentary lifestyles, the latter two of which can be attributed to a growing urbanised and westernised population. These are all key risk factors for the development of type 2 diabetes. Type 1 diabetes is expected grow more in line with the growth of the population.

Robert King, a pharmaceutical and healthcare industry analyst said:

“The diabetes drug market has consistently outperformed the global pharmaceutical market. Visiongain predicts this trend to continue as the increase in diabetes prevalence will drive this therapeutic area up to and beyond the forecast period of this report. The incidence of diabetes among younger people especially is expected to grow significantly, due to poor diets and enhanced diagnosis rates as a result of more effective screening methods. Patients in this particular population group are more likely to be well insured and also represent a longer per-patient market opportunity for diabetes drug manufacturers in chronic monitoring and therapeutic regimens.

Patient demographics mask the true scale of the growing diabetes epidemic worldwide, as it does not take into account the undiagnosed population. This is especially true for type 2 diabetes and also for people in developing countries. Although the current public health spotlight on diabetes has increased and newer screening methods and criteria have emerged, leading to an increase in the diagnosed population, the undiagnosed population remains hidden and can represent up to 50% of the total.  It is important that improvements are made in diabetes awareness, by both industry participants and public health communities, so that the undiagnosed population have access to treatments in the near future”