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- Pharmaceuticals
- BRIC Diabetes Drugs Market
BRIC Diabetes Drugs Market
Diabetes Drugs Market: BRIC Industry Analysis and Forecast to 2015 to 2021
Market Overview
Diabetes is a chronic disease characterized by high blood sugar level. It is caused by the improper functioning of the pancreas which secretes insulin. Diabetes is also known as diabetes mellitus. High blood sugar leads to increased thirst and hunger, and frequent urination.
Lack of treatment for diabetes causes several complications such as diabetes ketoacidosis, heart disease, stroke, and kidney failures. Insulin infusion therapy is used to treat diabetes. There are three types of diabetes including type1, type 2, and gestational diabetes.
Type 1 diabetes, also known as insulin dependent diabetes or juvenile diabetes, is characterized by low production of insulin by the body. Some of the conditions which lead to type 1 diabetes are addisons disease, celiac disease, rheumatoid arthritis, and autoimmune thyroid disease.
Type 2 diabetes is the most common type of diabetes, predominant in overweight and obese people. Pancreatectomy, chronic pancreatitis, and cystic fibrosis are some of the conditions which lead to Type2 diabetes. Diabetes is treated through diabetes drugs such as insulin, metformin, and sulphonylureas.
Diabetes drugs help in preventing complications and controlling blood glucose level in the blood. Some of the drugs used to treat type 2 diabetes are metformin, actos, avandia, lantus subcutaneous, and invokana. All drugs are administered orally except insulin, exenatide, liraglutide, and pramlintide.
Insulin is delivered through insulin delivery devices including infusion pump, intravenous sets, insulin syringe, insulin pen, and jet injectors. Long acting, intermediate acting, short acting, and rapid acting are some of the types of insulin used to treat diabetes.
China and India are dominating the BRIC diabetes drug market due to increasing diabetic population and increasing aging population in these regions. In addition, rising funds for diabetes control is also boosting growth of the diabetes drugs market in India. Brazil is expected to show lower growth rate due to patent expiry of various diabetes drugs.
In recent years, there has been an increased use of diabetes drugs due to rising prevalence of diabetes in various age groups. Increasing aging population, technological advancements, and increasing sales of novel drugs are some of the key factors driving growth of the BRIC diabetes drugs market.
In addition, government initiatives to control diabetes are also fueling growth of the BRIC diabetes drugs market. However, high manufacturing cost of drugs and insulin devices is restraining growth of the BRIC diabetes drugs market. In addition, low awareness among people regarding diabetes treatment is also restraining growth of the BRIC diabetes drugs market.
Maintaining safety and security of patients while using diabetes drugs and drug infusion devices could be a challenge for growth of the BRIC diabetes drugs market. One of the recent trends in the BRIC diabetes drugs market is rising use of personalized drugs. Some of the companies operating in the BRIC diabetes drugs market are Abbott Laboratories, Biocon, Ltd, Eli Lilly and Company, Lupin, Ltd., and Sun Pharma Industries, Ltd. Other companies in the market include Bayer Healthcare AG, Roche Holding AG, Novo Nordisk A/S, and Aurobindo Pharma, Ltd.
