Published By : 03 Feb 2016 | Published By : QYRESEARCH
According to the World Health Organization, the global prevalence of diabetes among individuals aged 18 and over was 9.0 per cent in 2014 and in 2012, an estimated 1.5 million people died from causes directly associated with diabetes. The World Health Organization states that diabetes is estimated to become the seventh leading cause of death by the year 2030.
China’s Remarkable Contribution towards the Insulin Market
The escalating prevalence of diabetes across the globe is the primary factor driving the insulin demand in China as well as around the world. According to the International Diabetes Foundation, China presently records the highest diabetes epidemic in the world. The rate at which diabetes is increasing in the country has overtaken that of the United States. An article published in the 2013 Journal of the American Medical Association indicates that an estimated 11.60 per cent of Chinese adults over the age of 18 have been diagnosed with diabetes. Standing at 114 million individuals, the diabetes population in China makes up approximately one third of the overall diabetes population around the world. This has been a key factor boosting the insulin market in China.
In the second half of last October, Yabao Pharmaceutical Company based in China announced its partnership with Eli Lilly and Company of the US in order to develop a “promising therapeutic approach” for the treatment of early and advanced stage diabetes worldwide. Lilly’s special compound – the SGLT1 – is a transporter inhibitor linked with sodium glucose that reduces glucose and insulin without resulting in any side effects such as weight gain or hypoglycemia. Strategic alliances and medical innovations, coupled with technological advancements, hold immense scope for the development of the insulin market in China.
Domestic players such as Shanghai Fosun Pharmaceutical Co., Ltd. and Tonghua Dongbao have established a strong hold over the Chinese insulin market.