Conference Report - Diabetes Management (2021) Volume 11, Issue 5
2020 Market Analysis
Omo Ojo *
Senior Lecturer University of Greenwich London, United Kingdom, Egypt,
Email: O.Ojo@greenwich.ac.uk
Abstract
Awards
Global diabetes market is expected to grow at a CAGR of 7.6% percent for the forecasted period of 2018-2023. The market is segmented on the basis of type of diabetes, drugs class and diabetic devices. Diabetic drugs have the highest market share amongst drugs and devices and are also expected to have the highest growth rate with a CAGR of 8.9%. Some of the top selling diabetic drugs include Lantus (Sanofi), Januvia (Merck And Co), Humalog (Eli Lily And Co), Novorapid (Novo Nordisk), Levemir (Novo Nordisk), Victoza (Novo Nordisk), Janumet (Merck And Co.), Novolog (Novo Nordisk), Humalin (Eli Lily And Co.) And Galvus (Novartis). With the diabetic population expected to cross the 350 million market by 2030 the market is expected to show strong growth rate.
Diabetic drugs are highly priced which could be one of the major Moreover, the aging population within the U.S.A. has been on the increase since the 1960’s. individuals aged sixty five years and on top of accounted for around 11th of September of the overall population in 1960 whereas in 2018, this cohort accounted for around 15 August 1945 of the whole U.S.A. population. Driven by rising incidences of
polygenic disorder and therefore the incontrovertible fact that the U.S.A. has one amongst the very best per capita tending expenditures, the U.S.A. marketplace for polygenic disorder medication has grownup at a CAGR of around eleven.8% throughout 2011-2018, reaching a price of US$ forty five.4 Billion in 2018.
Diabetes has increasingly become a lifestyle related disease as it afflicts young and old. As the number of patients grow across the globe, there has never been a stronger and more urgent need for novel therapeutic measures in clinical and preclinical evaluation, that arrest the growth of the disease. The diabetes market, consisting mainly of Type 1 and Type 2 diabetes is large and growing significantly. Global diabetes market is expected to grow at CAGR of 7.6% for the forecasted period of 2018-2023.the market is segmented on the basis of type of diabetes, drugs class and diabetic devices.
Diabetic drugs have the highest market share amongst drugs and devices and are also expected to have the highest growth rate with a CAGR of 8.9% . some of the top selling diabetic drugs include Lantus(sanofi), Januvia(Merck and Co), Humalog(Eli Lily AndCo),Novorapid(NovoNordisk),Levemir(NovoNo rdisk),Victoza( NovoNordisk),Janumet(MerckAndCo),Novolog(NovoNordisk),Hu malin (Eli Lily And Co) and Galvus (Novartis).with the diabetic population expected to cross the 350 million market by 2030 the market is expected to show strong growth rate. Diabetic drugs are highly priced which could be one of the major drawbacks. Diabetes drug research market in Europe is expected to progress with a 5.08% CAGR over the forecast years of 2018-2026. It is the second largest market for diabetes drug. High blood glucose kills about 3.4 million people annually worldwide. Approximately 80% of these deaths take place in underdeveloped and developing countries, and almost half are people aged less than 70 years. As per recent research in WHO diabetic deaths will double between 2005 and 2030. India had 69.2 million people living with diabetes (8.7%) in 2015. About 90% of the patients are suffering from Type 2 diabetes. Diabetes Research Market is expected to grow at the average CAGR of 6.5% time period of 2016-2023. India’s Diabetes Market is growing rapidly. India is expected to grow US$ 7441.6 million by 2023 from US$ 4778.7 million in 2016. The data varies from $263 billion spent in North America to $147 billion in Europe and Northern Asia.
