Frost & Sullivan: Launch of New Classes of Oral Antidiabetic Drugs by 2014 will Uplift Prospects for the European Diabetes Therapeutics Market
LONDON, June 25, 2012 /PRNewswire/ — The alarming prevalence rate of diabetes and its significant growth over the last year has encouraged market participants in the pharmaceuticals industry to venture into the burgeoning diabetics therapeutics segment. With a slew of effective formulations in the pipeline, competition in the market will be turned up a few notches.
New analysis from Frost & Sullivan (http://www.pharma.frost.com), European Diabetes Therapeutics Market, finds that the market earned revenues of approximately $8.60 billion in 2010 and estimates this to reach approximately $13.97 billion in 2017 at a compound annual growth rate (CAGR) of 7.2 per cent from 2010-2017.
“In 2010, the incidence of diabetes was highest in Germany, with approximately 7.4 million patients, followed by France, Italy and Spain,” says Frost & Sullivan Research Analyst K. Srinivas Sashidhar. “According to International Diabetes Federation (IDF) data, the prevalence is going to accelerate by 2030 and is estimated to increase in small regions such as the Benelux and Scandinavia.”
The insulin market is dominated by modern insulins and analogues. Long-acting insulins are expected to have a large market in the future. New therapeutic classes of drugs are expected to be a major contributor to the OAD segment.
The expense for diabetes treatment has become a global burden, especially for the middle- and low-income groups. Participants in this space are battling pricing pressures; however, high levels of competition, improved therapies, and the introduction of biosimilars will help deal with this issue.
Major concerns surrounding drug safety and side effects have created cause for concern among participants. This factor will have an impact on the global market in the near future, considering the need for compliance with strict European Medicines Agency and Food and Drug Administration (FDA) guidelines. These issues have alarmed medicines agencies to have strict control over efficacy and safety data. As new types of products emerge in the market, safety issues are bound to have a high impact in the future.
To ensure market progression, it is vital to build awareness on disease management. Participants need access to an interdisciplinary healthcare team that must be alert to new innovations to help develop treatment plans. It is also essential to drive home the importance of diet and exercise to patients.
“New kinds of therapeutic classes, GLP-1s, and new combination therapies will take market prospects forward,” says Sashidhar. “Metformin will continue to be a strong competing product in Europe.”
If you are interested in more information on this study, please send an e-mail to Janique Morvan, Corporate Communications, at firstname.lastname@example.org, with your full contact details.
European Diabetes Therapeutics Market is part of the Pharmaceuticals & Biotechnology Growth Partnership Service program, which also includes research in the following markets: European Biosimilars Market, Stem Cell Therapeutics Markets in Europe, Generics Pharmaceutical Markets – A Global Analysis, Strategic Analysis of the European Prefillable Syringes Markets, and European Pharmaceuticals and Biotech Contract Manufacturing Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.
Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
European Diabetes Therapeutics Market
SOURCE Frost & Sullivan