Dublin, Aug. The report, named Global Diabetes Injection Pen Market , provides a Detailed overview of the Diabetes Injection Pen market related to overall world. These new panels are in addition to the company’s flagship network of panels in the US as well as its core specialty panels currently operating in the EU, Canada and Australia. As per the report “Global Diabetes Market: 2015 Edition” The diabetes population will be driven by growing evidence of insulin therapy, rising healthcare expenditure, rising obese population, increasing urbanization and ageing population. Obesity, meanwhile, is defined as abnormal or excessive body fat accumulation that presents a risk to health. The report addresses the key themes such as market segmentation and competitive landscape. The report also assesses and projects the composition of the market as technologies gain or lose relative market performance over this period.
However, the industry remains threatened by certain challenges which include high diabetes cost which is a huge burden for families. Government and private investment in R&D leading to technical innovations, increasing number of diabetic patients, diagnosis and treatment using non-invasive techniques, reducing treatment rates and rising awareness are some of the major factors driving the growth of the market. It also provides, wherever applicable and relevant, technical data of products, and sheds useful light on expected commercial production dates and current R&D status. Morningstar increased its fair value estimate for Lilly to $55 per share from $52. In spite of advancement in insulin therapy and devices for glucose measurement, most patients do not achieve their target glucose control and are exposed to permanent and costly complications. A lot of insightful predictions about the production, export/import, and consumption is provided in the report. Market size and forecast is provided for each of these regions.
In terms of market segments, blood glucose test strips constitute the largest segment, followed by blood glucose meters or monitors. It is estimated that by 2030, 7 out of the top 10 countries for diabetes populations will be based in Asia. As of 2012, it accounted for the largest market share with 42.77% of the entire market. China is said to have an estimated 92.4 million adults with diabetes as compared to 50.8 million people in India, according to the International Diabetes Federation based in Brussels. According to Dr Yang Wenying, head of endocrinology at the China-Japan Friendship Hospital in Beijing, a combination of increasingly elderly populations, rapid urbanization, and nutritional changes along with lack of physical activity are the main reasons behind this growing epidemic of diabetes in China. In 2011, Lantus was the leading drug, with approximate sales worth $3.6 billion and a market share of 18%. The global diabetes care devices market is dominated by Roche Diagnostics and followed by Lifescan (Johnson and Johnson group of companies), both accounting for 23% of the global market.
Roche’s Accu Chek line of products has driven the growth for the company in 2009, followed by the One Touch brand of products by Lifescan. Novo Nordisk and Elli Lilly have been the market leaders in insulin pens, and as pens become widely adopted in developing countries their revenues are set to exceed their present values of $1.2 billion and $1.1 billion in 2009.. Medtronic is one of upcoming players in the market with its MiniMed line of products for insulin administration; its revenues reached $955m in 2009 on account of robust sales of its insulin pumps in North America and Europe. Abbott Laboratories has increased its presence in the emerging markets by acquiring the Nicholas Piramal business in India. With strong growth in the number of diabetic patients and increasing patient affordability in Asia, in the near future companies will increase their presence and market their products aggressively to drive growth.