Urgent Need for Effective Solutions as Diabetic Population Swells by Nearly 7 Million Annually
LONDON - 11th July 2011 - The increasing prevalence of diabetes, including type-I diabetes, is ensuring rapid growth for the insulin delivery devices market. Insulin management systems are set to experience accelerated market expansion, notwithstanding the higher costs associated with the use of insulin pumps, when compared to alternate insulin delivery devices.
New analysis from Frost & Sullivan (http://www.pharma.frost.com), Western European Insulin Delivery Devices Market, finds that the market earned revenues of $1.46 billion in 2010 and estimates this to reach $2.25 billion in 2016. The following products are covered in the research: insulin syringes, insulin pens (disposable, reusable and pen needles), insulin pumps and needle-free injection jets.
"Diabetes is a chronic condition that has to be managed with the use of drugs and changes in lifestyle," notes Frost & Sullivan Senior Research Analyst Beulah Devadason. "The quality of diabetes solutions will affect the quality of life for millions of diabetics globally."
There are 246 million adults living with diabetes, representing six per cent of the adult population and the numbers are increasing by seven million per year. It is projected that by 2025, there will be nearly 380 million adults with diabetes worldwide. Undiagnosed diabetes is one of the greatest health challenges in Europe.
The large population of undiagnosed diabetics represents about 40 per cent of the diabetes market. Such high anticipated rates of growth in the diabetic population will be accompanied by continually escalating demand for diabetes solutions.
Insulin pumps are set to make strong gains as they support effective diabetes management in difficult cases. For instance, the risk of hypoglycaemia is life threatening in the case of type-I diabetics who are unable to monitor their blood glucose while asleep.
"However, the integration of continuous blood glucose monitoring has led to the invention of alarms that alert the patient to possibly dangerous levels of blood glucose and offer tight control of glucose in the body," explains Devadason. "This helps patients to improve the quality of their lifestyle by reducing the need to stringently and constantly monitor their glucose level."
Another advantage is that the use of an insulin pump eliminates the need for multiple daily injections. The ability to inject bolus insulin doses for meal times offers an added benefit. Such features are underpinning the appeal of insulin pumps.
"Despite greater awareness of the condition however, a large number of diabetics remain undiagnosed; an estimated 50 per cent of the diabetic population is unaware of its condition," cautions Devadason. "This is the biggest hurdle for the insulin delivery device market."
Early diagnosis and treatment of diabetes will ensure longer and healthier living for diabetics. It will also sustain long-term revenue growth for manufacturers of insulin delivery devices.
"Appropriate screening and education of the general population to detect and treat diabetes will help market participants garner a larger market share," advises Devadason. "Products that enhance quality of life will guarantee strong revenue growth and provide the most value to the patient."
If you are interested in more information on this study, please send an e-mail with your contact details to Janique Morvan, Corporate Communications, at email@example.com.
Western European Insulin Delivery Devices Market is part of the Pharmaceuticals & Biotechnology Growth Partnership Services programme, which also includes research in the following markets: World Insulin Management Systems Market and Global Diabetes Market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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