Rising Diabetic Population Drives Growth in $10 Billion Diabetes Diagnostics Market, According to New Report
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San Jose, Calif. (PRWEB) June 28, 2007 -- Aging population in the western world, greater incidence of diabetes, population growth, growing disposable income, changes in lifestyle and diet, and genetic predisposition are some of the key factors impacting the market for diabetes diagnostics, therapeutics and devices.
Globally, around 150 million adults suffered from diabetes in 2000. By 2025, the number of people suffering from diabetes is projected to touch 300 million, doubling from 2000 levels of 150 million. "Growth in the diabetic populace is expected to be about 30% in developed countries, and 125% in developing countries," according to research published by Global Industry Analysts, Inc.
A steady increase in the number of people diagnosed with diabetes, along with intensive management and treatment processes/procedures is expected to sustain a high market growth rate in the diabetes diagnosis segment. Product categories such as blood glucose test strips, monitors, and lancet/lancet devices are expected to register significant growth rates. Market prospects continue to be relatively brighter in the hemoglobin A1c diagnostic device and electrochemical blood glucose test strips segment.
The global marketplace for diabetes medications, devices and supplies is highly competitive. Leading players worldwide offering blood glucose monitoring and testing systems include Abbott Diabetes Care, Bayer Healthcare, Bio-Rad Labs, Cholestech Corp, Home Diagnostics Inc, LifeScan, (a Johnson & Johnson Company), Medtronic MiniMed and Roche Diagnostics. Glucometer DEX, AccuChek, One Touch and SureStep are leading brands in the world market.
The report titled Diabetes Diagnostics: A Global Strategic Business Report provides a comprehensive review of market trends, product profile, players, competition, technological developments, recent developments, regulatory approvals, mergers, acquisitions, and other strategic industry activities. Analysis is presented for major geographic markets such as United States, Japan, France, Germany, the UK, Italy, Asia, Latin America and the Middle East. Analytics are provided in terms of product segments including Blood Glucose Testing Devices and Diabetes Testing Supplies.
About the company
Global Industry Analysts, Inc., (GIA) (http://www.strategyr.com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site www.StrategyR.com
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This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.
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Rising Diabetic Population Drives Growth in $10 Billion Diabetes Diagnostics Market, According to New Report
According to a recently released market research report published by Global Industry Analysts Inc., the world diabetes diagnostics market (http://www.strategyr.com/MCP-3404.asp) is expected to reach US$15.4 billion by 2010. The United States represents the largest market, estimated at US$3.8 billion. Europe is the second largest market followed by Asia. The United States, Europe and Asia (including Japan) collectively account for about 87% of the global share. The global and regional markets are expected to grow at CAGRs ranging between 10% and 13%. Diabetes testing supplies represent the largest segment with sales estimated at US$7.8 billion in 2007.
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