Diabetes care market comprises of technologies, devices and therapeutics markets in relation to diabetes. As estimated by The World Diabetes Foundation, there would be 438 million people suffering from diabetes by 2030. Approximately 11.6% of the global healthcare expenditure is shared by diabetes care. In 2010, global expenditure on diabetes was $376 billion. Global diabetes management product market was valued $41 billion in 2012. Sedentary lifestyle and obesity are primary factors driving the diabetes care market. There has been a considerable rise in the number of diabetes cases globally over the last few years. Improper diet and sedentary lifestyle are the main risk-elevating factors. Currently, about 528.7 million people are suffering from obesity, which is a primary reason for development of diabetes in people.
Reimbursement issues would be the primary factor restraining market growth during the analysis period. In April 2013, CMS slashed the reimbursements provided for diabetes testing supplies. Further, third party reimbursements are restricted to the type of coverage they provide concerning devices, diagnosis and treatment of diabetes.
Key Players profiled in the report include Glaxosmithkline, Abbott Laboratories, Johnson & Johnson, Bayer AG, Novartis International AG, Roche, Sanofi, Takeda and Merck & Co. Ltd.
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