November 2, 2006
For Immediate Release
The $37 Billion Diabetes Device Market of 2010 (from MedMarkets)
FOOTHILL RANCH, CA — In many developed countries, including the United States, the increase in diabetes prevalence is reaching epidemic proportions. Roughly 250 million patients worldwide are now estimated to have the disorder, a number that is expected to rise to 350 million by 2025. The products, technologies and companies active in the market for diabetes management products are detailed in the October 2006 issue of MedMarkets, and a 2006 report, from MMD.
An enormous and growing need exists for therapies that can treat a burgeoning worldwide diabetes population, creating a global market for diabetes monitoring and therapy that is set to surpass $37 billion by 2010.
"There are few markets in the device industry that have the combination of a large and growing patient population, well established products and technologies and opportunity for continued product and market development as diabetes," says Patrick Driscoll, Publisher of MedMarkets. "Manufacturers are able to focus on innovation that will have a very positive impact on the lives of a dramatically growing number of patients."
"According to Driscoll, the diabetes device market's growth is fueled not only by increasing patient numbers, but also by the introduction of more sophisticated and user friendly devices for controlling the disease. Currently available glucose meters, insulin forms and oral anti-diabetics largely satisfy most market needs. Much of the remaining opportunities therefore involve the development of truly noninvasive glucose metering instruments and the development of an automatic closed-loop system linking glucose metering with insulin administration. The latter may eventually drive significant, perhaps dramatic, growth in the devices sector. While the value of the future market may be impacted by a drop in the involvement of disposables in diabetes management devices, the net effect of the increasing patient population and premium-generating technologies is likely to be strong continued device market growth.
The October issue of MedMarkets, from MedMarket Diligence, covers the diabetes device market and its products, players and outlook. For coverage in the October MedMarkets, see this link. MedMarket Diligence has also published a dedicated report on the worldwide diabetes management market (see link for details).
About MedMarket Diligence
MedMarket Diligence provides tactical decision-making solutions on medical technology to the medical products and investment industries. The company publishes the MedMarkets newsletter, a monthly analysis of the market implications of new medical technologies, and dedicated reports on technology markets. Until year-end 2006, a free three-month trial of MedMarkets is available (sign up here). For additional details, contact Patrick Driscoll at email or call 949-859-3401 or toll-free (in the U.S.). 1-866-820-1357.