BRIC countries diabetes drugs market to be worth $8.7 billion by 2014

The BRIC diabetes drugs market in the group of BRIC countries (Brazil, Russian, India and China) is expected to grow from $3.9 billion in 2009 to reach $8.7 billion by 2014, growing at a compound annual growth rate (CAGR) of 17.1% from 2009 to 2014, notes a new report added to the offering of Research and Markets. Oral drugs accounted for around 65% of the market in 2009, but injectables are expected to have a higher CAGR of 21.9%.

The slowdown of the pharma market growth in developed economies has concentrated investor interest on BRIC nations, where the diabetes drug market has benefitted significantly from government initiatives for spreading patient awareness, and the subsequent increase in the uptake of novel drugs such as incretin mimetics - Eli Lilly's Byetta (exenatide) - and dipeptidyl inhibitors - Merck & Co's Januvia (sitagliptin) and Novartis' Galvus (vildagliptin), the report notes.

The prevalence of diabetes is on the rise across the globe due to increased life expectancy, changing lifestyles, and the rising incidence of obesity. Brazil's diabetes drugs market is showing a double digit growth rate; while the Russian insulin market is also expected to witness significant growth with an estimated 20 million patients in the region requiring diabetes treatment by 2025.