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News Release from: Frost and Sullivan | Subject: B935-52
Edited by the Laboratorytalk Editorial
Team on 28 July 2006
Innovative products spur European
diabetes market
Heightened awareness and knowledge about diabetes are boosting the acceptance of insulin therapy among people with type 2 diabetes
This, together with the emergence of innovative and effective diabetes management solutions, will act as a major driver for the insulin market over the coming years Frost and Sullivan finds that the European Diabetes Market will earn revenues of $2.8 billion in 2005 and estimates this to reach $4.6 billion in 2012
This article was originally published on Laboratorytalk on 2 Aug 2002 at 8.00am (UK)
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"Technological advancements in the field of drug delivery have propelled scientists to research new and more convenient forms of insulin delivery," notes Frost and Sullivan research analyst Sylvia Miriyam Findlay.
"The subsequent emergence of newer methods of insulin delivery including inhaled insulin, oral insulin, transdermal insulin will eventually expand the insulin market".
At present, the insulin market is at a growth stage, while the oral anti-diabetic market is in the mature phase.
Despite cost barriers, nascent non-invasive insulin delivery technologies are set to stimulate overall market growth.
Novel oral drugs such as the dual PPAR agonists, currently in the pipeline, are poised to gain market share due their efficacy.
Reimbursement limitations are currently restraining the uptake of these newer and more expensive forms of insulin.
For instance, inhaled insulin and oral insulin are typically costlier than standard insulin vials and cartridges.
With reimbursement for insulin devices and novel forms of insulin still uncertain, the penetration of such novel insulin delivery forms across the European Union will constitute a difficult task.
"Pharmaceutical companies need to work towards empowering diabetic patients to more effectively self-manage their condition," advises Findlay.
"They need to aggressively provide value-added services to enhance product differentiation, while promoting end-user familiarity with products.".
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