Asia-Pacific type 2 diabetes market to hit $10.5 billion by 2020

The type 2 diabetes treatment market in Asia-Pacific (APAC) region will rise in value from an estimated $6.5 billion in 2013 to $10.5 billion by 2020, representing a modest compound annual growth rate (CAGR) of 7.1%.

According to business intelligence provider GBI Research latest report, of the four major APAC countries (China, India, Japan and Australia), China will see the fastest expansion, with a CAGR of 11.1% over the forecast period. This will be driven by an increase in the prevalent population due to urbanization, and by expected drug launches.

Arti Singh, an analyst for GBI Research, says: “The increasing diabetic population in India and China is the major reason behind the diabetes treatment market growth in the APAC region as a whole. While metformin is expected to retain its dominant position in the treatment algorithm for type 2 diabetes, the anticipated launch of promising pipeline molecules, including several drugs with novel mechanisms of action, may also contribute to market expansion.”