Diabetes Drug Market Anticipated to Grow $55.3 Billion in Next 10 Years

382 views

DiabetesDiabetes – A Silent Killer
In the 21st century if the question is asked which is the most silent killing disease, the answer is neither cancer nor AIDS. Its diabetes. It is estimated that around 50 million people across the globe are suffering from Diabetes. There is a fear that the number can keep on mounting for diabetes patients. In layman’s term diabetes is a disease in which a person is suffering from high blood sugar level. The cause of it can vary from the pancreas producing an inadequate amount of insulin or the cells of the body not responding to the insulin that is produced.

There are variations of symptoms of the disease ranging from ‘Polyuria’ that is frequent urination, ‘polydipsia’ that is increased thirst and ‘polyphagia’ which is termed as increased hunger. Diabetes can be classified in 2 section that is Type 1 diabetes and type 2 diabetes. Since the disease has spread its wings in a vast span, the market related to diabetic medicines has also seen a quantum leap. In today’s scenario medicines related to diabetes have a huge market volume than any other disease in the world. Some of the big names in the pharmacy sector have shown a tremendous growth in the last couple of years. As more and more people are contracting this disease the companies are pushing in several kinds of medicines and equipments into the market to counter this ailment. Also various other drugs which are connected as an after effect of diabetes like glaucoma, renal failure, liver problem, high blood pressure, obesity and heart diseases are also coming up in a rapid scale.

There is no specific age group to whom it affects. Right from a toddler to an old man or women, anyone can be affected with this dreaded disease. In today’s date several pharmaceutical companies ranging from Allopathic to Ayurvedic drug companies are coming up with a variety of medicines to aid of the diabetics. Along with the disease the global market of anti diabetes pharmacy has also seen a tremendous growth in a span of 20 years and is predicted to grow even more. The anticipation is that the diabetes drug market shall grow over 55.3$ billion dollars in the next ten years. Some of the major products present in the market consists of glucose monitors, test strips, lancets, blood glucose meters, software programs for diabetes monitoring. Also artificial pancreas, syringes, insulin, insulin pumps, other insulin delivery apparatus, anti-diabetic drugs and oral hypoglycemic agents are the most revenue generating products. Ranging from home based blood monitoring systems to pen- like insulin injections, a whole range of products and medicines are available in the market today to fight and prevent diabetes. However, no drug has been discovered till now to cure diabetes completely.

Some reports state that there are a few labs in Eastern Europe and America which are developing stem cell therapy for diabetes, that will help the pancreas to produce insulin in the body on a normal level and the body will too accept it in an orderly fashion. Hence a great endeavor is carried around the world to battle this disease so that the people suffering from it can also lead a healthy and a joyful life.