Hyperglycemia Treatment Market – Global Industry Analysis by Size, Share, Growth, Trends and Forecast
According to the World Health Organization, nearly 60 million people have diabetes in the European region and the prevalence is relatively high in age group over 25 years. It is mainly caused by obesity, unhealthy diet, and physical inactivity, which indirectly increase the market growth. Hyperglycemia is a disorder caused by increased blood glucose (blood sugar) level. Hyperglycemia is a sign of diabetes including both type 1 diabetes and type 2 diabetes. Insulin therapy is one of the treatment for patient with type 1 diabetes.
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Increasing prevalence of diabetes, rising demand for better treatment, increasing investment in biotechnology and pharmaceutical industries for R&D, and availability of funds drive the growth of the market. Moreover, increasing government support for research & development, changing lifestyle, and rapidly developing technology expected to fuel the market growth during the forecast period. However, high cost of the treatment may slow the market growth during the period 2017-2023.
The global hyperglycemia treatment market is expected to grow at a CAGR of 9.8 % during the forecast period 2017-2023.
The global hyperglycemia treatment market has been segmented on the basis of treatment, mode of administration and end user.
On the basis of treatment, it is segmented into fluid replacement, electrolyte replacement, insulin therapy, and drugs. The drugs segment is further classified into sulfonylureas, biguanides, thiazolidinediones, and others.
On the basis of mode of administration, it is segmented into topical, oral, and others.
The Americas dominates the global hyperglycemia treatment market owing to the presence of huge patient population with diabetes, neurological disorder, high healthcare spending, and increasing government support for research & development.
Europe holds the second largest share of the global hyperglycemia treatment market as result of increasing focus of various government agencies on the treatment of hyperglycemia and cardiovascular diseases. Moreover, the growing public awareness about hyperglycemia likely to boost the adoption of these devices in the Europe market.
According to the World Health Organization, 2014, about 60 million people have diabetes in the European Region. The stats also suggests that about 10.3% of men and 9.6% of women are aged 25 years and over have diebetes.
Asia Pacific is the fastest growing hyperglycemia treatment market across the globe. Japan holds the major share of the regional market due to availability of advanced technology and huge healthcare spending. Moreover, rapidly developing economy, increasing healthcare expenditure, and the governments initiatives for research & development projected to drive the market in China and India over the forecasted period.
The Middle East and Africa holds the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.
Some of key the players in the market are Novo Nordisk A/S, Merck & Company Inc., Medtronic, Johnson & Johnson Services, Inc. , Teva Pharmaceuticals Ltd., Eli Lilly and Company, Sanofi S.A., Home Diagnostics, Bayer AG, Bristol-Myers Squibb., and Abbott.
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