With rapid urbanization in developing countries, diabetes would become a bigger problem since these countries would experience various changes in traditional diet and way of life.
Diabetes is growing fastest in Africa, Asia and Latin America, said, Lars Rebien Sorensen, CEO of Novo Nordisk, the world's largest maker of insulin, in a statement published by Telegraph on July 4, 2007. By the next 20 years, Diabetes is likely to increase by 80% in Africa and 100% in Latin America. On the contrary, US would record 43% growth.
Diabetes sufferers would no longer be confined to rich countries, where patients could afford a better treatment. The outburst of Diabetes in developing countries would create a bright prospect for big pharmaceutical companies to enter potential markets where costs are low however volumes large.
There are apparent opportunities for insulin producers as well as since diabetes could cause strokes, heart disease, amputations and blindness, offering growth prospects to a number of drug producers. There are further opportunities to produce low-priced blood sugar monitors as well as solar-powered fridges to keep insulin.
A recent report by RNCOS “Insulin Delivery Systems Market Analysis (2007-2010)” has also pointed out that the growing number of diabetes patients around the world will drive the market for diabetes drug.
As per the report, the diabetes market is undergoing a major upheaval. The new modes of delivery of insulin will also be responsible for expanding the diabetes drug market.
The report maintains that diabetes affected a staggering 246 Million people worldwide in 2006. Diabetes, mostly Type II, affected 5.9% of the world’s adult population with almost 80% of the total in developing countries.
The market research report also addresses other interesting issues and facts that are critical for success in Insulin industry like discussion about the modes of insulin delivery, a detailed analysis of the major insulin delivery devices, scope of the major insulin delivery systems across the world, analysis of various challenges and opportunities for the industry as well as profile discussion of key players in this sector.
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