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European Diabetes Therapeutics Market
Frost & Sullivan, Sep 2011, Pages: 151
How Far Would it Go: New Classes of Drugs to Emerge by 2014
The research study 'European Diabetes Therapeutics Market' aims to thoroughly assess and analyse the diabetes therapeutics market, market and technology trends, in European countries and provide strategic recommendations for the success of the market participants. Diabetes is the fastest growing market in the pharmaceutical industry. This study is focused on two segments: Insulin and Oral Antidiabetics (OAD). The insulin market is dominated by modern insulins and analogues. New therapeutic classes of drugs are a major contributor in the Oral Antidiabetics segment. This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth.
MARKET OVERVIEW
Launch of New Classes of Oral Antidiabetic Drugs by 2014 will Uplift Prospects for the European Diabetes Therapeutics Market
Long-acting Insulins Poised to Grab a Large Share of the Market in the Future
The alarming prevalence rate of diabetes and its significant growth over the last year has encouraged market participants in the pharmaceuticals industry to venture into the burgeoning diabetics therapeutics segment. With a slew of effective formulations in the pipeline, competition in the market will be turned up a few notches. “In 2010, the incidence of diabetes was highest in Germany, with approximately 7.4 million patients, followed by France, Italy and Spain,” notes the analyst of this research service.
“According to International Diabetes Federation (IDF) data, the prevalence is going to accelerate by 2030 and is estimated to increase in small regions such as the Benelux and Scandinavia.” The insulin market is dominated by modern insulins and analogues. Long-acting insulins are expected to have a large market in the future. New therapeutic classes of drugs are expected to be a major contributor to the OAD segment.
The expense for diabetes treatment has become a global burden, especially for the middle- and low-income groups. Participants in this space are battling pricing pressures; however, high levels of competition, improved therapies, and the introduction of biosimilars will help deal with this issue.
Major concerns surrounding drug safety and side effects have created cause for concern among participants. This factor will have an impact on the global market in the near future, considering the need for compliance with strict European Medicines Agency and Food and Drug Administration (FDA) guidelines. These issues have alarmed medicines agencies to have strict control over efficacy and safety data. As new types of products emerge in the market, safety issues are bound to have a high impact in the future.
To ensure market progression, it is vital to build awareness on disease management. Participants need access to an interdisciplinary healthcare team that must be alert to new innovations to help develop treatment plans. It is also essential to drive home the importance of diet and exercise to patients.
“New kinds of therapeutic classes, GLP-1s, and new combination therapies will take market prospects forward,” says the analyst. “Metformin will continue to be a strong competing product in Europe.”
MARKET SECTORS
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
- Insulin
- Oral antidiabetics (OAD)
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