China and India epidemic grows: Diabetes drug revenue to more than double by 2022 20 August 2013 The type 2 diabetes drug market will climb in value by 145% in just 10 years, while prevalence of the condition across India and China is likely to soar to worrying levels, predicts research and consulting firm GlobalData. According to the company’s new report*, revenue for the type 2 diabetes treatment sector across the world’s 10 major markets (US, France, Germany, Italy, Spain, UK, Japan, China, India and Brazil) will increase from $28 billion in 2012 to $69 billion in 2022, representing a Compound Annual Growth Rate (CAGR) of 9.4%. During this period the US is expected to remain the largest market by some margin, with revenue jumping from $16 billion to $39 billion over the forecast period. But while the US market eclipses all others in terms of value, the prevalence of type 2 diabetes is far greater across Asia, with 71% of the global diagnosed diabetic population living on the continent. Already home to the world’s largest number of type 2 diabetes sufferers, the number of people with the condition in India is expected to soar from 94 million in 2012 to 182 million in 2022, states a GlobalData forecast. At an Annual Growth Rate (AGR) of 9.2%, the diagnosis of new cases is expected to outpace all other countries covered in the report, resulting in a larger diabetic population in India than the nine remaining countries combined.
Posted on: Fri, 23 Aug 2013 03:26:09 +0000
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