The global type 2 diabetes market is expected to grow from $20.4 billion in 2012 to $38.8 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 10.2%, forecasts business intelligence provider GBI Research. The company’s latest report* states that the US currently has the highest market share, which will rise from $12.7 billion in 2012 to $27.2 billion by 2019, at a CAGR of 11.6%, followed by the top five EU markets (the UK, France, Germany, Italy and Spain), which will grow from $4.5 billion to $7.1 billion, at a CAGR of 6.8%.
This increase, according to GBI Research, is due to the anticipated approval of products in relatively novel treatment classes, such as GLP-1 agonists, DPP-4 and SGLT-2 inhibitors. Should these expensive drug classes capture substantial market shares, this would be expected to result in an even more robust level of market growth.
Furthermore, due to the increase in the number of obesity cases and with people living longer, the prevalence of type 2 diabetes is also expected to rise.
Dominic Trewartha, GBI Research’s Associate Analyst, says: “The strong forecast for the type 2 diabetes market is reliant upon the ability of late-stage pipeline drugs, such as gemigliptin, to reach expectations created by promising clinical trial results, and of newly marketed products, including Nesina and Tradjenta, to capture a significant share of the market. In order to do this, they will need to balance clinical efficacy with safety and tolerability profiles.”
However, the sulfonylureas and metformin classes, both widely used among type 2 diabetes patients, are strongly penetrated by generic and low-cost products, presenting a potential major barrier to the market.
Sent to us from GBI Research 24 September 2013
Eddie
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5 comments:
and the profits for big pharma go up and up and probably the side effects that these new drugs may cause results in diabetics not getting any improvement in their health
cherie
With cherie talking profits for big pharma, I read the last word here as profit and not what it actually read. Perhaps the diabetic community me included are just getting too too cynical."balance clinical efficacy with safety and tolerability profiles." Of course that last sentence sounds wonderful but in the real world does it happen.
Like feck!!!
Frank
So, far from being pariahs and a drain on resources we T2s are helping to keep the global economy going.
I think I'll get a badge stating that "I am not a pariah - I am an asset"
Kath
It was whilst reading the statin post Graham put on the blog and Sheila commenting about how easy it is now : we all expect to pop a pill : and we are cured.
The drug companies go laughing to the bank, how gullible the public and HCP's are. When part of the cure may well be our diets. What we eat, drink. How little some of us exercise. The demoralising truth is I suspect most : out there : are happier to pop a pill then to strive for a better and healthier lifestyle.
One last thought why is it diabetics are often looked on as pariahs of or on the NHS? If better information was only given by many HCP's we would not be in our current state.
Peter
Getting the right advice from the beginning is the single most important thing in diabetes "care" but,apparently the most difficult to achieve.
If you read the official guidelines on treating diabetes from almost any country - the advice is the same. Try diet and exercise - other lifestyle factors to be addressed,in the first instance.
Even if this were done in every case - the dietary advice is wrong for T2s and usually does not even mention the one most important factor - the role of carbs and the desirability of reducing them.
So what chance do we stand?
That after or sometimes from the outset, treatment is target driven and thus not always in the long term interests of the patient.
Kath
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