Incidences of diabetes mellitus and its complications are increasing and affecting both adults and children worldwide. The prevalence of hyperglycemic crises such as diabetic ketoacidosis (DKA) is also increasing among other diabetic complications. Therefore, various companies and research laboratories across the globe are taking immense efforts to manage diabetes mellitus and reduce the chances of further complications. Most of the prominent manufacturers are also working on innovative solutions in association with several research organizations to provide a better treatment option. Recently, Eli Lilly and Sigilon Therapeutics have partnered to develop encapsulated cell therapies using Sigilon's Afibromer materials. This technology was launched with JDRF funding.
Hospital segment is accounting for the largest share of 78.25% in 2018
Increasing incidences of diabetes and associated complications have increased the overall number of visits to hospitals and emergency centers. As per the Centers for Disease Control and Prevention (CDC), the prevalence of DKA episodes was increased among all the age groups between 2009 and 2014 in the U.S. with an average annual growth of 6.3%. In the past few years, the prevalence of diabetes has increased significantly. Concurrently, diabetic ketoacidosis (DKA) hospitalizations have also increased. DKA is a diabetes emergency which can lead to death if it remains untreated. As per, the American Association of Nurse Practitioners (AANP), hospital encounters for DKA treatment can cost up to USD 17,500 with an average length of stay for 3.4 days.
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Untapped Market Opportunities in Developing Regions
Increasing prevalence of diabetes and its associated complications in developing regions are providing numerous opportunities for market growth. As per the International Diabetes Federation, around 425 million adults had diabetes globally, and they spent USD 727 billion on healthcare in 2017. With the rapidly growing prevalence of diabetes, the population is expected to reach 629 million by 2045. It can be said that rising healthcare expenditure for availing better healthcare facilities may offer several new avenues for better treatment options. UDAY, a research project in India, will work on improving the treatment and management of diabetes and HBP. The five-year program is expected to cover 400,000 people in two states namely Haryana, and Andhra Pradesh. The project would be funded by a pharmaceutical company Eli Lilly.
Increasing prevalence of diabetes and its complications in Asia Pacific
Asia pacific is home to world’s largest diabetic population. Diabetes and its related complications are widely prevalent in the region. For instance, Hyperglycemia in pregnancy has the highest prevalence in South-East Asia. For instance, one in fourth live births is affected by hyperglycemia during pregnancy and is expected to be the major contributor to the epidemic in the region. China has a large number of diabetic population and is likely to emerge as one of the leading players in the global market. This can be attributed to increasing obese population, consumption of calorie-rich foods, and sedentary nature of common work practices, among others. However, China is heavily investing in controlling the prevalence of diabetes and its complications, which is further supporting the market growth. China invested around USD 110 billion in diabetes healthcare in 2017, the International Diabetes Federation (IDF). Moreover, Strong presence of manufacturers engaged in providing diabetes innovative solutions is also strengthening the healthcare sector in the region. For instance, in Japan, Novo Nordisk’s 64% of business is focused on diabetes, and it is the leading supplier of insulin in the region.
Some of the prominent players in the market are Novo Nordisk and Biocon.
Diabetic Ketoacidosis Treatment Market Segmentation
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