Global Diabetes Care Devices Market Forecast to Reach $25.3 Billion by 2018 with 5.2% CAGR
FARMINGTON, Conn., Sept. 17, 2012 /PRNewswire-iReach/ — Healthcare, biotechnology, and pharmaceuticals combine to represent 10% or more of the world’s GDP. Global Information Inc (GII) is pleased to present just three of the more than 40,000 market research reports, forecasts, and studies we have available to help companies, investors, suppliers, marketers, and manufacturers reliably forecast and plan their business in this increasingly valuable sector. Want to learn more? Contact us today for a one-on-one conversation about what market research can do for you in this fast-moving, turbulent market.
Diabetes Care Devices Market to 2018 – Integrated Insulin Pumps with Continuous Glucose Monitoring Technology to Add a New Dimension to Diabetes Management
The global market for diabetes care devices is forecast to reach $25.3 billion by 2018 at a Compound Annual Growth Rate (CAGR) of 5.2%. Glucose monitoring devices will be the largest category in the market, with a value of $13.3 billion by 2018. The insulin delivery devices market was valued at $8.1 billion in 2011, and is forecast to grow at a CAGR of 5.9% to reach revenues of $12 billion in 2018.
The market is primarily expected to be driven during the forecast period by the large patient pool suffering from diabetes and the rapid uptake of innovative, minimally or non-invasive products. Examples include the C8 MediSensors Optical Glucose Monitor, NBM-200G, Easy Check Breath Glucose and EyeSense Blood Glucose Measurement Device, which utilize a patients sweat, exhaled breath or a fluorescent eye signal to measure blood glucose levels. Integrated Continuous Glucose Monitoring (CGM) systems will also contribute to the growth of the glucose monitoring devices market.
Compelling clinical needs, expanding research activities and applications to develop non-invasive therapies will accelerate technological innovations in diabetes care devices. Moreover, increasing awareness, improving diagnosis and treatment rates and a growing demand for safer, more effective, more accurate and cost-effective therapies for diabetes will lead to increased adoption rates for diabetes care devices.
Global Biopsy Devices Market Expected to Reach $1.4 Billion by 2018
The global biopsy devices market was valued at $970 million in 2011, and the market is forecast to reach $1.4 billion by 2018 at a CAGR of 5%.
Increasing cancer screening rates will drive future growth in the global biopsy devices market, further boosted by the elderly population in developed economies. Increasing preference for minimally invasive ultrasound-guided vacuum-assisted biopsy devices will also drive growth, assisted by higher levels of reimbursement, as will preference for low-cost and less uncomfortable needle biopsies.
The US is currently the largest market for biopsy devices and accounted for 50% of global revenue, or $485m, in 2011. It is forecast to reach $682.4m by 2018 at a CAGR of 5%. The increasingly elderly population has lead to a higher prevalence of cancer; the main driver for the future growth of the market in the US. More Medicare reimbursement for vacuum-assisted biopsy procedures is also expected to fuel demand. Vacuum-assisted breast biopsy devices, the fastest growing segment in the US market, was valued at $231m in 2011 and is expected to reach $400m in 2018 at a CAGR of 10%.
Pharmaceutical Industry Utilizes Innovative R&D Strategies to Improve Productivity and Contain Costs
Declining productivity from R&D has raised concerns among the key stakeholders of the pharmaceutical industry. One of the simplest, yet most important, indicators of the declining Return On Investment (ROI) has been the widening gap between the R&D expenditure and the number of new drug approvals, especially since 1996 when the Food and Drug Administration (FDA) approved 53 New Molecular Entities (NME) in 1996, the R&D expenditure of the industry stood at approximately $21.9 billion.
However, the NME approval rate reached an all-time low within just six years with just 17 NME approvals as the R&D expenditure almost doubled to $42.3 billion. R&D expenditure is steadily increasing, but this is not being reflected in the number of new drug approvals. This has increased the cost of new drug launches to astronomical levels. While it used to cost less than $1 billion ($842m) in 1999, the cost to launch a new drug went as high as nearly $2 billion ($1,778m) in 2010. In addition, the negative pricing and reimbursement pressures are adding to the woes of the pharmaceutical companies who try to generate high revenues from their novel drugs. With key blockbuster drugs in the industry set to expire within the next five years and a clear lack of potential blockbusters in the current pharmaceutical industry pipeline, the industry experts are looking for ways to mitigate the risks and improve their return on investment on R&D expenditure.
This is one of GII’s most popular reports in the vast pharmaceutical category. For an executive summary, to read a full table of contents, or to request a free sample of the full document, please visit http://www.giiresearch.com/report/pr248749-global-lte-subscriptions-reach-802m-by-research.html
About Global Information Inc. Global Information (GII) (http://www.giiresearch.com) is an information service company partnering with over 300 research companies around the world. Global Information has been in the business of distributing technical and market research for more than 25 years. Expanded from its original headquarters in Japan, Global Information now has offices in Korea, Taiwan, Singapore, Europe and the United States.
Media Contact: Jeremy Palaia Global Information, Inc., 1-860-674-8796, Press@gii.co.jp
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE Global Information, Inc.