South East Asia's type 2 diabetes market will be worth $2.7 billion by 2022, research says

The value of the type 2 diabetes mellitus (T2DM) market in South East Asia will rise from $1.7 billion in 2015 to $2.7 billion by 2022 at a compound annual growth rate of 7.1%, according to business intelligence provider GBI Research.

This market includes South Korea, Singapore, Taiwan, Malaysia, the Philippines, Thailand, Vietnam and Indonesia, where market growth will be driven by the increased uptake of recently approved and emerging branded T2DM therapeutics, in favor of lower-cost generic products, the report predicts.

Aswini Nath, an analyst for GBI Research, says: “Unmet needs relating to patient convenience and ease of use will be addressed significantly over the forecast period. Higher levels of innovation are apparent in the early-stage pipeline, which may lead to considerable improvements beyond the existing range of products, in terms of safety and efficacy in the long term.