The increasing number of diabetes patients globally is proving a boom for the diabetes drugs market. On a global scale, there are currently 285 million people in the world diagnosed with diabetes. According to Frost & Sullivan, it is estimated that by 2030 the number of people living with diabetes will increase to 483 million patients.
The overall market is witnessing significant growth due to the increasing incidence of diabetes and the corresponding increase in government support for diabetes care. Governments all over the world are taking huge initiatives on various research and development projects in order to improve their diabetes drug delivery techniques
China and India are currently the biggest diabetes markets. According to figures released by the International Diabetes Federation (IDF), in October 2009, China was estimated to have 43.2 million diabetics, compared to 50.8 million in India. According to the IDF, the number of diabetics in India is expected to increase to 87 million. As diabetics around the world still remain under-diagnosed, there continues to be a high global demand for the treatment and prevention of diabetes.
Approximately 24 million Americans have been diagnosed with diabetes, and another 12 million are expected to be diagnosed by 2020, according to the American Diabetes Association (ADA). Diabetes creates a huge burden for those diagnosed, including a loss in productivity levels. A survey from the ADA puts the toll of lost productivity and caring for diabetic patients at a whopping $218 billion annually in the United States alone.
The increase in the number of patients with the type 2 form of the disease, plus the emergence of potential new drug treatments, is expected to raise competition within the diabetes market. This shows a great opportunity for investors to take advantage of the rapidly growing and demanding industry.
A few companies poised to take advantage of the growing diabetes market include:
Amylin Pharmaceuticals Inc.
Company description: Amylin markets two medicines to treat diabetes, BYETTA (exenatide) and SYMLIN (pramlintide acetate) injection. It is also currently seeking approval for BYDUREON (exenatide extended-release for injectable suspension), a medication for type-II diabetes, which is administered only once a week.
Novo Nordisk is a focused healthcare company and a world leader in diabetes care. The company has a new drug to improve blood-sugar levels as well as weight control. Called Victoza, the treatment won FDA approval in January 2010 and has been available in some European countries and Japan since 2009.
Company description: Prodigy Meters develops, manufactures, and markets audible blood glucose monitoring systems for diabetes patients. It offers meters that help blind and people with low vision to test their blood glucose levels.
A Johnson&Johnson Company
Company description: LifeScan, Inc. develops, manufactures, and distributes blood glucose monitoring systems for home and hospital use. It offers blood glucose meters, test strips, and lancing devices.