Emergence of Newer Drug Classes to Treat Diabetes and Co-morbidities Key to Market Expansion
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Increasing knowledge related to the pathology of diabetes will support the introduction of improved drugs to treat the disease. As healthcare moves towards the ideal of preventive medicine, there are a few companies conducting research on diabetes vaccines. If they succeed, the entire market landscape is bound to undergo instant change. New analysis from Frost & Sullivan, Global Diabetes Market, finds that the market earned revenues of $27.00 billion in 2008 and estimates this to reach $44.70 billion in 2015.
“Improved therapies and innovative drug delivery techniques are anticipated to revolutionise the global diabetes market by 2015,” notes Frost & Sullivan Programme Leader Sylvia Miriyam Findlay. “As healthcare moves towards preventive medicine, the search for a cure for diabetes looks promising.”
The emergence of newer classes of drugs to treat diabetes and their co-morbidities is changing the diabetes market landscape. Long-acting GLP-1 analogs are likely to gain significance and almost match the importance of insulin in the near future. This trend is likely to be beneficial for Type-2 diabetics who have not responded to other oral anti-diabetic agents.
The Food and Drug Administration (FDA) has detailed stringent policies for the approval of diabetic drugs. These policies compel lengthier clinical trials, often resulting in the delayed launch of new drugs and increased drug development costs.
“The not-so conducive regulatory environment, varying price controls across countries and parallel trading hinders the growth of the global diabetes market,” adds Findlay. “In addition, generic competition arising due to patent expiries of major drugs is also restraining market expansion.”
Despite these obstacles, the diabetes market is, and will continue to be, a lucrative segment of the healthcare industry. Numerous innovative drugs and drug delivery devices are currently being researched. Given these are successful; the launch of such drugs and devices will further open up the market and boost revenue generation.
“Asian markets, especially India and China, offer tremendous prospects for growth,” concludes Findlay. “These markets have large diabetic populations and, with the number of undiagnosed diabetics increasing, lucrative untapped opportunities are emerging for pharmaceutical companies.”
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