The global market for products in the management of diabetes currently stands at $41 billion and is on pace to grow to over $114 billion by 2018. Products include glucose meters, lancets, test strips, continuous blood glucose meters, insulin, insulin pumps, syringes and other insulin delivery devices and anti-diabetic drugs. The bulk of product revenues come from three segments — test strips, insulin and anti-diabetic drugs — which will remain the largest sources of product revenues over the next ten years. The most significant growth, however, will come from the nascent segment of continuous blood glucose monitors, which provide significantly added clinical benefit at only a modestly higher cost compared to standard blood glucose meters.
The growth in global market for diabetes products from 2010 to 2018 is illustrated by product segment below:
Source: MedMarket Diligence, LLC; Report #D510, "Diabetes Management: Products, Technologies, Markets and Opportunities Worldwide 2009-2018."
Currently, the U.S. remains the single largest source of product revenues in diabetes management, at roughly 37% of the global market, but that percentage will drop to 28% by 2018, primarily as a result of significant growth in Asia/Pacific, which is due in no small measure to the rapid economic development of China, which demonstrate growth in both pricing and expansion of healthcare coverage to its 23 million diabetics.
The growth in the global market for diabetes products from 2010 to 2018 is illustrated by major geographic area below:
Source: MedMarket Diligence, LLC; Report #D510.