Diabetes is a disease wherein blood glucose levels are above normal. Rising sugar levels in the human body leads to high appetite, weight loss, increased thirst and frequent urination and are the typical symptoms of diabetes. The diabetes treatment market is expected to collect around USD 115 billion by 2018. This is due to rising diabetic patients worldwide.
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The primary factors driving the diabetes treatment market are healthcare technological advancements, rising key companies for diabetic treatment devices and augmenting diabetic population. However, high costs involved in the diagnosis and treatment of diabetes and lack of reimbursement policies are likely to hamper demand for this market over the coming years.
The diabetes treatment market can be categorized into devices, drug therapy and geographies. The devices market can be fragmented into insulin delivery devices and glucose diagnostics and monitoring devices. Insulin delivery devices market can be divided further into insulin pens, syringes, pumps and injectors. The glucose diagnostics and monitoring devices market includes glucose test strips, CGM (continuous monitoring devices) and lancets.
The diabetes treatment market, on the basis of drug therapy, can be segregated into insulin, non insulin injectable drugs and oral anti-diabetes drugs (OADs). The insulin market includes long acting insulin, rapid acting insulin and intermediate acting insulin. OADs comprise biguandie, meglitinides, alpha-glucosidase, TZDs (thiazolidinedione) and sulphonylureas.
North America holds the largest share, especially United States which accounted for 38% of the global diabetes treatment market. Asia Pacific has shown significant expansion owing to rising population, technological advancements and governmental spendings on healthcare sectors. Europe and ROW (rest of the world) have shown steady growth due to governmental spendings on diabetic treatment devices.
Information Source: Grand View Research