Market Highlights:
The India Diabetes Market has been evaluated as rapidly growing market and it is expected that the market will continue to grow similarly in the near future. Diabetes is one of the major disease in India. India has world’s second largest population of diabetic patients which there were around 69.2 million diabetic patients in 2015 and that are expected to increase to 123.5 million by 2040. The number of undiagnosed diabetes is higher in India which was around 36 million in 2015.
Diabetes Market Research was about US$ 4.77 billion in 2016 and is expected to reach US$ 7.44 billion by 2027 at a CAGR of 6.5%.
Increasing awareness about diabetes, changing eating habits, growing prevalence of diabetes, lifestyle change due to rapid urbanization are leading the growth for diabetes in India. Increasing per capita income and expenditure on healthcare are driving the growth for the market. India is one of the fastest growing economy which results into developing healthcare infrastructure and facilities, increasing number of medical professionals and relatively low cost healthcare facilities are major drivers of the market. Indian government is taking various initiative to transform healthcare sector in India is key growth driver for the market. Increasing use of sugar and tobacco are leading to diabetes. Global pharmaceutical companies are ready to launch a range of novel treatments for diabetes in India. Pharmaceutical and device manufacturer companies are spending money in R&D to deliver effective and innovative product for the patients. Technological advancement and innovation are driving the growth for the market.
India Diabetes Market Players:
There are plenty of large and small market players which operate in this market : Novo Nordisk A/S (Denmark), USV Private Limited (India), sanofi-aventis U.S. LLC (US), Novartis AG (Switzerland), Merck & Co., Inc. (US), Becton Dickinson and Company (US), Roche Diabetes Care, Inc.(US),Johnson & Johnson Services, Inc.(us), Bayer AG (Germany), Ypsomed (Switzerland)
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Regional Analysis:
Considering the India scenario of the market, western region is believed to be the largest market for diabetes. Moreover the Eastern and Northern region are also growing and second largest market for India Diabetes. On the other hand, Southern Indian market is expected to grow at significant rate in the India diabetes during the forecasted period. Central region is likely to have a limited but moderate growth in the market.
Segmentation:
India diabetes Market has been segmented on the basis of type which comprise Type 1, Type 2, and Gestational diabetes. On the basis of test market is segmented into Random blood sugar test, Fasting blood sugar test, Oral glucose tolerance test, Initial glucose challenge test and others. On the basis of devices, it is segmented into Blood glucose monitoring devices, Diabetes management devices, and others. On the basis of treatment market is segmented into Medications, Insulin therapy, Transplantation, Bariatric surgery and others.
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