Global Industry Analysis of the Diabetes Devices and Drugs Market


  • Published On : Jul 28, 2014
Overview of the global diabetes devices and drugs market 

The primary driving force of the global diabetes devices and drugs market is the growing prevalence of diabetes in the world. Escalating diabetic population results in increasing demand for diabetic care. Apart from an array of existing drugs and devices, widespread R&D projects for new diabetic investigative and treatment methods has given the industry a boost. Other factors such as technological innovations and competitive pricing techniques by key participants in the market add to positive escalation. Untapped areas such as research into noninvasive methods of diabetes management are sure to help the growth of the diabetes drugs and devices market. However, the main constraints that occur are high cost of diagnosis and therapy, poor reimbursement policies, and difficult entry for new players into the diabetes devices and diabetes drugs market. 

Diabetes is a metabolic disorder in which the level of blood sugar remains high over a prolonged period of time. The body is either unable to generate insulin (type-1 diabetes) or utilize the produced insulin (type-2 diabetes). The common warning signs of the prevalence of diabetes are increased thirst, frequent urination and increased hunger. If left untreated, diabetes can cause various chronic complications. There are several devices and drugs in the market today to help diagnose and control diabetes.


Segmentation of the diabetes devices and drugs market

The worldwide diabetes devices and drugs market can be divided into the following segments:

By devices: The numerous diagnostic and therapeutic devices used for diabetic patients are:

Diabetes monitoring and diagnostic devices
  • Lancets and Lancing devices
  • Analog glucose meter
  • Continuous glucose monitoring devices
  • Glucose test strips
  • Others
Insulin delivery devices
  • Insulin pumps
  • Insulin injectors
  • Insulin pens
  • Insulin syringes
By therapy: On the method of therapy, the diabetes devices and drugs market can be segmented into:

Insulin
  • Rapid-acting insulin derivatives
  • Short-acting insulin derivatives
  • Long-acting insulin derivatives
  • Intermediate-acting insulin derivatives
  • Premixed insulin derivatives
Non-insulin injectable anti-diabetes drugs
  • GLP-1 analogs
Oral anti-diabetes drugs
  • Thiazolidinediones
  • Sulphonylureas
  • Meglitinides 
  • Biguanides
  • Alpha-glucosidase inhibitors
  • SGLT-2 inhibitors
  • DPP-4 inhibitors
By geography: The entire diabetes drugs and devices market is divided into four main regions—North America, Europe, Asia-Pacific and Rest of the World.

Industry analysis

The International Diabetes Federation has stated that till 2013, nearly 382 million people across the globe had been diagnosed with diabetes and the number is expected to increase to 592 million by 2035-end. This immense ascend in diabetic population has been the driving force behind the growth of the diabetes devices and drugs market. According to a market intelligence agency, the global market for diabetes drugs and devices will be worth USD 114.3 billion in the year 2016 compared to the USD 41.9 billion market in 2010. The estimated CAGR for this period is estimated to be 18.2%.

Of the existing diagnostic and treatment devices available, the continuous glucose monitoring devices section is the most popular and the approximate CAGR estimated from 2013 to 2019 is 6.6%. What has propelled the market in recent years is the extensive research and development projects taken up in diabetes devices and drugs, and nearly 180 drugs such as Afrezza, U-300 and Dulaglutide are already in the pipeline. The demand for DPP-IV inhibitors, SGLT2 inhibitors, long-acting insulin derivatives, and GLP-1 agonists has upped and this has added to the growth of the business. 

Some of the major competitors in the diabetes drugs market are Novo Nordisk A/S, AstraZeneca plc, Sanofi, Merck Inc., Takeda Pharmaceutical Company Limited, and Eli Lilly and Company. The diabetes devices market is dominated by companies such as LifeScan Inc., F. Hoffmann La Roche Ltd., Bayer AG, and Abbott Diabetes Care.

Contributing nearly one third of the total revenue, U.S. is the biggest player in the diabetes devices and drugs. But with increasing contributing from emerging economies in the Asia-Pacific region, this number is likely to drop by 5%-7% in at least five years. The growth rate of diabetes incidences in Asia-Pacific is quite high and so is the increase in medical expenditure and healthcare awareness. These factors are steadily supporting the diabetes devices and drugs market in the region.
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