2017 Update on the Diabetes Market in Asia
According to the World Health Organization (WHO), there are around 430 million diabetics worldwide, a number that will grow to 650 million by 2040. 60% of diabetics are Asian, and diabetes is currently the 8th leading cause of death in region. By 2030, diabetes will become the 6th leading cause of death in Asia. Furthermore, diabetes increases the risk of other health issues, including stroke and heart disease.
The diabetes device market was worth approximately $15 billion worldwide in 2016, with the Asian market accounting for $3 billion. The Asian diabetes device market, which includes products such as lancets, insulin pumps, and glucose monitoring devices, is growing at a rate of over 8% annually. In 2016, the Asian diabetes drug market was worth over $8 billion of the $25 billion global diabetes drug market. The diabetes drug market is expected to double by 2030 with the rising number of diabetics. Diabetes drugs include insulin, but also medications that help with other functions such as breaking down sugar and decreasing the liver’s sugar production. The global diabetes drug market is also growing at an annual rate of over 6%, with China’s diabetes drug market growing the fastest at around 10% annually.
China has the world’s largest diabetic population. While China accounts for one-fifth of the global population, one-third of all adult diabetics are Chinese. In 2016, an estimated 110 million Chinese adults had diabetes, and an estimated 150 million Chinese adults will have diabetes by 2040. Diabetes in China is primarily cause Continue reading