Diabetes drugs and devices to top $240 billion
The research report, Diabetes Therapies & Diagnostics: Global Markets, says therapeutics and diagnostics for the disease will be worth $213.8 billion in 2008. Reporting company BCC Research Inc., Westley, Mass., (bccresearch.com) expects the figure to increase to over $241.9 billion by 2013, an average annual growth rate of 2.5%. The report breaks the market into therapeutics, diagnostics, and all other interventions. Of these, all other interventions has the largest market share with an expected value of $105.9 billion in 2008. This segment should reach $116.9 billion by 2013.
Industry leaders will overcome technology barriers, says the report, to bring noninvasive, insulin-based products to the markets. Software and technical developments will work in the market's favor by introducing prototypes of artificial pancreas. And expect strong sales of insulin infusion pumps, lancing devices, and glucose monitors. Improved technology should reduce prices.
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