Type 2 Diabetes Drugs Euro Market To Grow 3.8% Per Year
A new report from Frost & Sullivan (F&S) forecasts a 3.8% growth every year for the European market of Type 2 diabetes from a value of 9.50 billion euros in 2009 to 15.46 billion euros in 2017. More than 55 million people in Europe alone were diagnosed with the disease in 2012, says the F&S study. This number is expected to balloon to 64 million by 2030, presenting vast opportunities for next generation type 2 diabetes therapeutics.
The research, "Global Type 2 Diabetes Therapeutics Market," covers the European region and other key markets worldwide in detail. According to the report, the growth rate of the insulin segment accounted for about 52% of Europe’s total type 2 diabetes market in 2012 and was boosted by improvements in modern insulins.
Aiswariya Chidambaram, Healthcare Senior Research Analyst at F&S, said, “The insulin segment of this market is boosted by the improvements seen with modern insulins, including improved pharmacokinetic profiles and reduced risk of hypoglycemia - the main drawback to insulin therapy. Several insulin analogues in development have the potential to offer better overall outcomes resulting from their liver-targeted action.”
F&S found several key challenges to diabetes care in different European countries. In the UK, diabetes care will be influenced by the reform of commissioning structures combined with 40.61 billion euros efficiency savings, which will result in reductions in specialist treatments. France is addressing promotion of improved nutrition and pushing efforts against chronic disease. In addition, patients with diabetes in France receive full reimbursement of all treatments and supplies.
Spain saw the prevalence of gestational diabetes (which increased as high as 8.8% in 2011) and responded by introducing telemedicine in hospitals for diabetes care. Italy, meanwhile, has introduced novel, potentially innovative drugs and focused on integrated management, which is likely to consolidate multiple diabetes services into one program. The report also addressed challenges to diabetes care and market in Sweden, Finland, and the Netherlands, among others.
Chidambaram concluded, "All in all, research advances in novel pathways, such as the neuroendocrine system, will produce next-generation antidiabetic drugs with improved efficacy and safety profiles, creating opportunities for successful market penetration with enhanced and more effective formulations. ...These efforts will generate affordable, highly effective therapies with enhanced long-term safety and efficacy and better clinical outcomes."