Research and Markets: Global Diabetes Drugs Market 2011-2015 Report Says Eli Lilly, Merck and Novo Nordisk A/S are Among the Main Players
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TechNavio's analysts forecast the Global Diabetes Drugs market to grow at a CAGR of 9.7 percent over the period 2011-2015. One of the key factors contributing to this market growth is the increase in diabetic population. The Global Diabetes Drugs market has also been witnessing the trend of increasing awareness and education. However, the increasing use of complementary and alternative medicine (CAM) could pose a challenge to the growth of this market.
Key vendors dominating this space include Eli Lilly and Co., Merck and Co. Inc., Novo Nordisk A/S and Sanofi S.A.
Commenting on the report, an analyst from TechNavio's Healthcare team said: ''Campaigns are being organized to create awareness about diabetes among the US population. The American Diabetes Association (ADA) has been organizing programs and circulating magazines about diabetes in the US. The Center for Disease Control and Prevention is also taking initiatives to spread awareness about diabetes. Some awareness programs sponsored by vendors even offer free tests to patients and inform them about the condition. The number of such campaigns is increasing worldwide, and the awareness level among the worldwide population is set to increase in the near future. Market growth is expected to be fuelled by improved education regarding the importance of blood glucose management.''
According to the report, one of the key drivers is the increase in the diabetic population. Across the globe, the prevalence of diabetes is growing at a significant pace. Increasing urbanization coupled with sedentary lifestyles has led to the increase in people developing diabetes. The prevalence of diabetes is not only increasing in developed nations but also in low and middle-income countries, particularly in India, China, and Japan.
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