TRENDS & PERSPECTIVES
After conducting an in-depth analysis of the global diabetes market, BCC Research projected that the current diabetes IVD market of $10.1 billion will increase to $12.4 billion by 2013. According to the subsequent market research report, “Diabetes Therapies & Diagnostics: Global Markets,” diabetes IVDs and therapeutics are poised to become one of the largest markets within the healthcare industry over next five years. Approximately 205 million diabetic patients worldwide demand reliable healthcare products and services to manage this growing epidemic and its complications.
One of the greatest difficulties facing IVD manufacturers is the lack of a viable strategy to prevent the onset of diabetes. Although lifestyle adjustments regarding diet and exercise decrease the onset of type 2 diabetes by 50%, the modification of lifestyle without medical consultation can be detrimental to patients who have already developed diabetes. With early intensive intervention key to meeting patient demand, industry leaders, insurance underwriters, and government policymakers must work together to distribute the necessary resources that provide preventive care and education.
In addition to emphasizing prevention, the report estimated that the global diabetes IVD market will attempt to meet the needs of diabetic patients over the next five years with the following developments:
- Software and data-mining technologies will contribute to a prototype of an artificial pancreas.
- More insulin infusion pumps and lancing devices will feature a continuous glucose monitoring system.
- More generic drug suppliers will consolidate across geographic borders to expand abbreviated new drug application portfolios of insulin-independent drugs.
- More new drug applications will be filed for FDA approval for incretin mimetics, a new class of drugs.
Despite these innovations, affordable products and services necessary to manage glucose, blood pressure, and lipids are required to meet the demand of the increasing global diabetic community. The global diabetes IVD and therapeutics market will continue to consist largely of blood glucose monitoring devices, insulin infusion pumps, insulin and noninsulin drug products, and other interventions for diabetes and its complications.
Additional information about this market report and industry projections can be accessed at BCC Research’s Web site at www.bccresearch.com.
