Global Diabetes Devices and Drugs Market is Expected to Reach USD 98.4 Billion in 2018: Transparency Market Research

ALBANY, New York, September 26, 2012 /PRNewswire/ --

According to a new market report published by Transparency Market Research (http://www.transparencymarketresearch.com) "Global Diabetes Devices Market and Diabetes Drugs Market - Industry Scenario, Trends, Analysis, Size, Share and Forecast, 2011-2018," the global diabetes devices and drugs market was worth USD 50.8 billion in 2011 and is expected to reach USD 98.4 billion in 2018, growing at a CAGR of 9.9% from 2011 to 2018. In the overall global market, North America accounted for the highest share worth USD 19.9 billion in 2011 followed by Europe. However, with the continuous population and economic growth of the Asia-Pacific region, especially India and China, it is expected to witness the highest growth rate in the next six years.

Browse the full report athttp://www.transparencymarketresearch.com/diabetes-devices-market.html

Today, diabetes is one of the major areas of concern worldwide. The rising number of patients is due to the ever increasing population around the globe mainly in the Asia Pacific region. Currently, over 370 million people suffer from diabetes across the globe, which is expected to exceed 550 million by 2030. As of now, the age bracket of 40-59 years is the most affected diabetes population followed by the age group of 60-79 years. However, the age group of 60-79 years is expected to account for the highest number of diabetes patients by 2030.

The global diabetes therapeutics devices and drugs market is expected to reach USD 72.4 billion by 2018, growing at a CAGR of 10.4% from 2011 to 2018, whereas the global diagnosis and monitoring devices market is expected to reach USD 26.0 billion by 2018, growing at a CAGR of 7.8% for the same period. Major products in this market consist of glucose monitors, test strips, lancets, continuous blood glucose meters, software programs for diabetes monitoring, artificial pancreas, syringes, insulin, insulin pumps and other insulin delivery devices and anti-diabetic drugs. Of these, insulin devices, blood glucose monitoring devices, lancets and oral hypoglycemic agents are the most revenue generating products.

The rapidly growing diabetic population, sedentary lifestyle, rise in cases of obesity and inappropriate food habit are the major factors driving the growth of the global diabetes devices and drugs market. However, lack of awareness about diabetes diagnosis and treatment and adverse side effects of diabetes drugs are some of the factors acting as a restraint for this market. There are large numbers of diabetes patients left undiagnosed every year and this population is expected to grow further with rapid increase in population, in the coming future. This untapped market is likely to serve as an opportunity for the market players in the diabetes devices and drugs market.

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Global Diabetes Devices and Drugs Market is Expected to Reach USD 98.4 Billion in 2018: Transparency Market Research