Global diabetes drugs market set for 9.7pc annual growth

TechNavio's latest report looks at the potential for growth in the diabetes drugs market.

The global market for diabetes drugs will grow at a compound annual growth rate (CAGR) of 9.7 per cent between 2011 and 2015, analysts have predicted.

TechNavio's latest report highlights the rising number of people with diabetes as the key driver behind the trend, with increasing urbanisation and sedentary lifestyles contributing to the disease's growing prevalence in both developed and low-income countries.

In addition, analysts noted that there is increasing awareness of diabetes and the importance of treating the disease effectively, thanks to public campaigns and education programmes.

"The number of such campaigns is increasing worldwide, and the awareness level among the worldwide population is set to increase in the near future," a spokesperson for TechNavio's healthcare team said.

"Market growth is expected to be fuelled by improved education regarding the importance of blood glucose management.''

The report also highlights a number of key players in the global diabetes drugs market, namely Eli Lilly and Co, Merck and Co, Novo Nordisk and Sanofi.