BRICS diabetes treatment and prevention market players and analysis by type, treatment, devices, by end users- forecast to 2030. The market is predicted to touch USD 12,383.6 Million at an 13.4% CAGR between 2022-2030, reveals the latest Market Research Future (MRFR) report. Diabetes or diabetes mellitus, simply put, is a metabolic disease that causes high blood sugar. This, when left untreated, can damage the kidneys, eyes, nerves, and other organs. Its prevalence is on the rise owing to the increasing incidence of obesity, changing lifestyles, and increased life expectancy.
Diabetes can be classified into three types: type 1, type 2, and gestational diabetes. Type 1 diabetes, also known as juvenile diabetes, occurs when the body fails to produce insulin. Type 2 diabetes affects how the body uses insulin. Unlike type 1, the body still uses insulin, but the cells no longer respond as effectively as they once did. Gestational diabetes develops during pregnancy, when the body becomes less sensitive to insulin. This type of diabetes usually resolves after childbirth, but it does not occur in every woman. Aside from these, there are two types of diabetes that are less common: cystic fibrosis-related diabetes and monogenic diabetes.
Several factors are driving the growth of the BRIC diabetes treatment and prevention market. According to the new Market Research Future (MRFR) report, these factors include rising diabetes prevalence across BRIC countries, increased diabetes research, an increase in international research collaborations, lifestyle changes, and an increase in the obese population. Increased sales of new diabetic drugs, technological advancements, an ageing population, government initiatives to control diabetes, rapid urbanisation and industrialization, and increased diabetes research and development activities are all driving market growth.
On the flip side, the high price of diabetes care devices, lack of awareness about diabetes treatment, the disparity in reimbursement, and accessibility of alternative treatments are factors that may deter the BRIC diabetes treatment and prevention market growth over the forecast period.
Key Players
The BRIC diabetes treatment and prevention market players include Roche Holding AG (Switzerland), Terumo Medical Corporation (Japan), Lifescan (US), AstraZeneca Plc. (UK), Medtronic (US), Eli Lily Company (US), Bayer AG (Germany), and Abbott Laboratories (US). Key players have incorporated several strategies to strengthen their position in the market, such as mergers and acquisitions, research and development activities, expansions, collaborations, and more.
Market Segmentation
The MRFR report provides an all-inclusive segmental analysis of the BRIC diabetes treatment and prevention market on the basis of treatment, end users, and type.
Based on type, the BRIC diabetes treatment and prevention market is segmented into type 1, type 2, and gestational diabetes.
Based on treatment, the BRIC diabetes treatment and prevention market is segmented into gene therapy, medication, and others. The others segment includes insulin pump, injection pens, continuous glucose monitors, blood glucose meters and strips, and others.
Based on end users, the BRIC diabetes treatment and prevention market is segmented into pharmaceutical companies, clinics, hospitals, and others.
Regional Analysis
By region, the BRIC diabetes treatment and prevention market report covers the latest trends and growth opportunities across Brazil, Russia, India, and China. Of these, China will spearhead the market over the forecast period. Factors pushing market growth in China include the presence of several diabetes care device manufacturers, increasing international collaborations, and rising diabetic population.
India's BRIC diabetes treatment and prevention market is expected to grow at the fastest CAGR during the forecast period. Factors driving market growth in India include increased diabetes research and management, rapid industrialization and urbanisation, and an increasing diabetic population.
The BRIC diabetes treatment and prevention market in Russia is expected to grow steadily over the forecast period, whereas the market in Brazil is expected to grow slowly due to the patent expiration of various diabetes drugs.
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