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High Prevalence of Diabetes Spurring the Anti-diabetic Drug Market in China


In China, the market for anti-diabetes drug has increased steadily due to increase in the number of diabetic patients. Improvement in the living standard of people and economic development are some other factors that have contributed to the growth in the anti-diabetic drug market. In 2013, the number of adults aged between 20 and 79 suffering from diabetes in the world was around 382 million. By the year 2035, this number is expected to increase to 592 million. In China, the prevalence of diabetes is quite high. Although the prevalence rate of diabetes in China was less than 1 percent in 1980, in 2013, it has increased to 11 percent. Diabetes has become the third most chronic disease amongst the Chinese population China accounts for 25.8% of the total diabetic population in the world.

Market Overview
China has the largest number of diabetic patients in the world and in 2013 the number of Chinese people suffering from diabetes was more than 110 million. Moreover, there are more than 400 million people who are suffering from pre-diabetes and so the number of people suffering from diabetes is going to increase in the next ten years. Because of this reasons, the market for anti-diabetic drugs in China is quite large. In 2013, the Chinese market for anti-diabetic drugs was more than 20 billion yuan. The market is also expected to grow at a compound annual growth rate of 17%. Increase access to medical care and improvement in health care reforms by the government are driving the growth of the Chinese anti-diabetic market.

Although there are many varieties of ant-diabetic drug available in China, the market is dominated by insulin and oral hypoglycemic drugs. Conventional anti-diabetic drugs such as Melformin and Acarbose occupies the majority share in the market. In 2012, with a market share of 55.6% insulin products had the largest proportion in the Chinese anti-diabetic drug market. In China, the insulin market is dominated by pharmaceutical companies such as Sanofi S.A., Novo Nordisk and Eli Lilly & Co.

The Chinese anti-diabetic market consists of both domestic and multinational pharmaceutical companies. Some of the major players in China’s anti-diabetic market are Bayer AG, Hangzhou Zhongmei Huadong Pharmaceutical Ltd., Novartis AG, Beijing Taiyang Pharmaceutical Industry Co. Ltd., Jiangsu Wangbang BioChem Co., Pfizer Inc., GlaxoSmithKline. In the coming years, with increase in government guidelines that set higher treatment standard, the market for anti-diabetic drugs in China is estimated to expand.

Explore the latest market research report on China’s anti-diabetic drug market @http://www.chinamarketresearchreports.com/114684.html

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