Global insulin market to grow 20% annually to 2015 says new report

March 3, 2011 - PRLog -- According to the report “Insulin Delivery Systems Market Analysis (2008-2012)” http://www.piribo.com/publications/drug_delivery/insulin_delivery_systems_market_analysis_20082012.html estimations suggesting that there will be 438 Million diabetic people in 2030 have alarmed the global community. With such high expected rates of growth in the diabetic population, the demand for diabetes solutions are forecasted to register continuously increasing growth rates. Growth of diabetes solutions market has caused a ripple effect in related markets, such as the specialty foods market and the testing equipments and delivery devices market. Manufacturers and service providers in all these sectors have to recognize the special needs of diabetics to cater to this growing population.

The 110 page report states that currently the insulin market is characterised by the emergence of new drug delivery devices with improved technology and this trend is likely to continue in next few years also on the back of government initiatives. Hence, global insulin market is forecasted to grow at a CAGR of around 20% during 2010-2015. Anticipating the future growth, pharma giants are making investments in active R&D to increase their market share.

The  report highlights that traditionally, insulin delivery has been dominated by syringes. Besides, the introduction of insulin pens has seen a paradigm shift in the insulin delivery devices market. On the other hand, insulin pumps have seen a significant growth in market penetration due to technological advances that make the process less cumbersome at competitive prices. Further, the continuous glucose monitoring systems used in conjunction with insulin pumps provide greater control over the management of diabetes. Finally, the needle-free injection jets are also an up-and-coming technology in insulin delivery.

The report “Insulin Delivery Systems Market Analysis (2008-2012)” is available from Piribo at:
http://www.piribo.com/publications/drug_delivery/insulin_...

Piribo product ID: RCS00629

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About Piribo.
Piribo http:www.piribo.com is the source for information products concerning the global biotechnology and pharmaceutical industries. Here you can browse and buy thousands of business information studies, market reports and books.