Study: Diabetes a $40 billion world market
NEW YORK -- The market for diabetes monitoring and therapeutic products totaled nearly $40 billion in the top seven world markets in 2004, according to a new study. The study, Diabetes and Diabetic Complications: Major World Markets, found significant geographic variation in market opportunity. Country-specific regulations, public health priorities, demographics and patterns of clinical and reimbursement practice all contribute to the different growth rates and forecasts. Glucose monitor sales, for example, will nearly double in the United States during the next 10 years, while sales in most other areas will experience sluggish growth. Likewise, oral hypoglycemic medications will find much greater market opportunity in Japan and the United States, than in Western Europe.