US market to grow 8% yearly through 2008
US demand for diabetes management therapies and supplies will increase 8.0 percent annually to $12.6 billion in 2008. Growth will reflect a rising number of diagnosed Type 1 and Type 2 conditions; the introduction of new, high value-added drugs and devices; and the promotion of greater patient testing activities and prescribed medication compliance by medical groups. Diabetes afflicts over 18.5 million individuals in the US and accounts for nearly $105 billion in direct health care expenditures.
Oral agents to remain dominant
Based on size and growth of Type 2 diabetes conditions and anticipated new product introductions, oral anti-diabetic agents will continue to comprise the top-selling class of diabetes therapies. Demand for these compounds will increase 6.6 percent annually to $5.4 billion in 2008. Thiazolidinedione combination therapies and new peptide agonists will provide the best growth opportunities due to advantages over alternative agents in controlling hyperglycemia. GLP-1 agonists, which are expected to reach the market in mid-2005, hold especially promising potential in Type 2 diabetes management due to multiple underlying anti-diabetic actions as well as the promotion of weight loss.
Insulin systems to grow the fastest
Demand for insulin delivery systems is projected to reach $3.8 billion in 2008, up 10.6 percent annually from 2003. An increasing number of diagnosed Type 1 diabetes conditions and expanding use in the management of Type 2 diabetes will promote growth. Insulin analogs, especially insulin lispro and insulin glargine, will see the fastest gains in demand among insulin formulations based on reduced dosing frequency, rapid onset of action and greater dosage scheduling flexibility. Buccal and inhalation delivery systems, now in development, will eventually replace injectable insulins as the principal therapies for Type 1 diabetes. Prefilled pen injectors that allow for needleless, subcutaneous administration will account for the fastest growth among insulin delivery devices. Combination insulin pumping and blood glucose monitoring systems will also fare well.
Less invasive monitors, supplies to lead gains
The US market for diabetes monitoring and diagnostic products will increase 7.7 percent annually to $3.4 billion in 2008. Less invasive monitors and supplies will generate the strongest growth opportunities in this product class due to convenience and ease-of-use advantages. The most significant new innovation among blood glucose monitoring devices will consist of probe-based systems that provide and record continuous measurements over a three-day period.
Study coverage
This new Freedonia industry study, Diabetes Monitoring & Therapy provides historical US demand data (1993, 1998, 2003) and forecasts to 2008 and 2013 for diabetes products by type and market. The study also profiles major industry participants and evaluates company market share.
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