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Frost & Sullivan: Launch of New Classes of Oral Antidiabetic Drugs by 2014 will Uplift Prospects for the European Diabetes Therapeutics Market

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Frost & Sullivan: Launch of New Classes of Oral Antidiabetic Drugs by 2014 will Uplift Prospects for the European Diabetes Therapeutics Market PR Newswire LONDON, June 25, 2012 - Long-acting Insulins Poised to Grab a Large Share of the Market in the Future LONDON, June 25, 2012 /PRNewswire/ -- 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. New analysis from Frost & Sullivan (http://www.pharma.frost.com), European Diabetes Therapeutics Market, finds that the market earned revenues of approximately $8.60 billion in 2010 and estimates this to reach approximately $13.97 billion in 2017 at a compound annual growth rate (CAGR) of 7.2 per cent from 2010-2017. "In 2010, the incidence of diabetes was highest in Germany, with approximately 7.4 million patients, followed by France, Italy and Spain," says Frost & Sullivan Research Analyst K. Srinivas Sashidhar. "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.
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Frost & Sullivan: Launch of New Classes of
Oral Antidiabetic Drugs by 2014 will Uplift
Prospects for the European Diabetes
Therapeutics Market
PR Newswire
LONDON, June 25, 2012
- Long-acting Insulins Poised to Grab a Large Share of the Market in
the Future
LONDON
,
June 25, 2012
/PRNewswire/ -- 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.
New analysis from Frost & Sullivan (http://www.pharma.frost.com),
European
Diabetes Therapeutics Market
, finds that the market earned revenues of
approximately
$8.60 billion
in 2010 and estimates this to reach approximately
$13.97 billion
in 2017 at a compound annual growth rate (CAGR) of 7.2 per cent
from 2010-2017.
"In 2010, the incidence of diabetes was highest in
Germany
, with approximately
7.4 million patients, followed by
France
,
Italy
and
Spain
," says Frost & Sullivan
Research Analyst K. Srinivas Sashidhar. "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 Sashidhar. "Metformin will continue to be
a strong competing product in
Europe
."
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