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Diabetes market to grow at 16.7% CAGR 2019-24

Diabetes: A potential epidemic

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Diabetes: A potential epidemic

 

National Health Mission.

The Indian diabetes market is expected to grow at a CAGR of 16.7% during 2019-2024, having reached US$1,954 million in 2018.

Diabetes is rapidly gaining the status of a potential epidemic in India with around 65 million people currently being affected by it, said a ResearchAndMarkets report “Indian Diabetes Market Report: Patients, Prevalence, Oral Antidiabetics, Insulin and Diagnostics”.

The Indian population that had faced under nutrition for a long time is now exposed to over nutrition and sedentary lifestyles, observed the report released 24 June 2019.

Coupled with a bad nutritional history and the fact that Indians are genetically more vulnerable to diabetes compared to other population groups, India’s struggle with diabetes is expected to be one of the biggest epidemics the country has ever witnessed.

India’s diabetes statistics may ring alarm bells for the government and healthcare authorities, for drug and diagnostic manufacturers, however, it represents a goldmine, said the report.

“Fuelled by a continuous increase in the healthcare expenditures, the market for diabetes drugs and diagnostics is expanding robustly in the country.

“This is creating lucrative opportunities for global healthcare companies at a time when growth rates in the more developed markets have declined,” said the report. fiinews.com

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