The healthcare industry specialists from GBI Research has found a new report stating that many big firms like Roche, Sanofi, Novo Nordisk and Lilly are increasing sales and marketing focus in India and China where diabetes patients are found large in number. This was made in an attempt to tap the vast potential they hold in the global diabetes devices market.
The Chinese diabetes devices market was valued at $776.2m in 2011, and is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.9 per cent to reach $1,161.1 in 2018.
The Chinese government has been fighting to increase awareness of diabetes and spread the availability of treatment through schemes such as the National Diabetes Management Project. This is an important driver for the national diabetes devices market.
GBI Research predicts expansion in India to be even more impressive. The diabetes devices market in the country was worth $146.5m in 2011 and is forecast to climb at a CAGR of 10 per cent to a value of $285.2m in 2018.
India has vast potential in this sector as it is home to the second highest population of diabetes sufferers in the world, after China. In 2011, over 61 million people in the country had the condition, and this figure is expected to climb to more than 101 million by 2030.
Improved diagnosis rates, an increase in government initiatives, and greater interest from diabetes device manufacturers are all expected to be major factors in growing the sector within India.
From a global perspective, the diabetes devices market is predicted to expand from a 2011 value of $17.7 billion to $25.3 billion in 2018, climbing at a CAGR of 5.2 per cent.
Diabetes Care Devices Market to 2018 - Integrated Insulin Pumps with Continuous Glucose Monitoring Technology to Add a New Dimension to Diabetes Management. This report provides key data, information and analysis on the global diabetes care devices market.
This report was built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GBI Research’s team of industry experts.
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