China and India with their burgeoning diabetes populations are expected to be big consumers of medical devices and propel the global diabetes device market to $25.3 billion in 2018, up from $17.7 billion in 2011.
A new report from GBI Research states that global firms such asRoche, Sanofi, Novo Nordisk and Eli Lilly are trying to focus on these two populous Asian nations with analysis showing that the Chinese diabetes devices market will see a 5.9 percent compound annual growth rate over the seven years to $1.1 billion in 2018. India is on an even faster track and showing that the market, while much smaller than China, will see a 10 percent CAGR to $285.2 million in 2018.
There is one single category of device that will dominate the market, according to GBI Research — the glucose monitoring device. The firm found that in 2011, glucose-monitoring products were worth $9.7 billion of the $17.7 billion overall market for diabetes devices.
Further, because such products represent 61 percent of the future product pipeline, GBI research projects that glucose-monitoring products will see a 4.7 percent CAGR totaling $13.3 billion of the overall $25.3 billion diabetes devices market at the end of 2018.
It remains to be seen the if world will be any closer to having a working artificial pancreas, the Holy Grail for all diabetes patients, in this time period. Medtronic’s efforts in the space is well-known. However, it may take much longer for Asian markets to be able to afford what would certainly be a revolution in the way the debilitating disease is managed.
While the focus of an artificial pancreas is to manage the disease and make glucose monitoring and insulin intake automatic, there are lesser known efforts aimed at tackling diabetes differently. That constitutes efforts in reducing the stop of insulin production that is the hallmark of the disease and in some cases reversing it — in other words, getting cells of the body to produce insulin again.
That is the goal of a Minnesota startup Exsulin.
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