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South African Diabetes Market Growing Significantly Due to Improved Diagnosis Rates - The South African diabetes market is growing rapidly, primarily as a result of higher diagnosis rates. This is due to increased access to healthcare
South African Diabetes Market Growing Significantly Due to Improved Diagnosis Rates

 

NewswireToday - /newswire/ - Cape Town, South Africa, 2008/04/30 - The South African diabetes market is growing rapidly, primarily as a result of higher diagnosis rates. This is due to increased access to healthcare.

   
 
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Many type 2 diabetics are shifting towards the use of insulin along with their oral treatment. In 2006, 43.0 per cent of type II diabetics were using the more expensive insulin in addition to the oral treatment. This trend is significantly boosting the revenues of the anti-diabetic pharmaceutical market.

New analysis from Frost & Sullivan (pharma.frost.com), Strategic Analysis of the South African Diabetes Markets, finds that the market earned revenues of $53.2 million in 2006 and estimates this to reach $82.7 million in 2012.

"The anti-diabetic pharmaceutical market in South Africa is firmly in the growth stage as a result not only of better access to healthcare, but also due to drastic changes in lifestyle," explains Frost & Sullivan Research Analyst Lizelle Wentzel. "Hence, more South Africans are seeking treatment and are being diagnosed with the disease, boosting the prospects of anti-diabetic pharmaceutical manufacturers."

The market has grown considerably and has brought choice for patients between ethical and generic drugs. However, type 2 diabetics, who are the majority of diabetes patients, are moving towards more expensive insulin treatment. This trend will underpin the sustainable growth and expansion of the market.

However, because the South African pharmaceutical industry is extremely regulated, it is difficult to market high-priced drugs. This is due to reference pricing and reimbursement issues.

"Due to spiralling healthcare expenditures, the South African government is resorting to strict cost-containment measures," cautions Wentzel. "As oral drugs cost less than insulin and other novel anti-diabetic drugs, the market is set to be driven by the cost factor. The government is more likely to purchase cost-effective drugs than costly alternatives."

The need for oral anti-diabetic drugs with tighter glycaemic control abilities and alternative methods of insulin delivery constitute a key market need. Companies able to fulfil this need stand to make strong gains. Manufacturers should try to lower costs and, at the same time, maintain a high level of quality. This strategy will enable them to capture greater market share.

If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the strategic analysis of the South African diabetes markets, then send an email to Patrick Cairns, Corporate Communications, at pcairns_pr[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.

Strategic Analysis of the South African Diabetes Markets is part of the Pharmaceutical and Clinical Diagnostics Growth Partnership Services Programme, which also includes research in the following markets: Diabetes Drug Delivery Methods—Market and Technologies, Emerging Therapies for Diabetes (Technical Insights), European Diabetes Market and South Korean Diabetes Diagnostics Markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.

Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.

Strategic Analysis of the South African Diabetes Markets M1F7

 
 
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South African Diabetes Market Growing Significantly Due to Improved Diagnosis Rates

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Publisher Contact: Patrick Cairns 
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