First the bad news: “Diabetes will strike one in 10 adults by 2030, hampering economic growth in the world’s fastest-growing economies as it kills people in their most productive years,” said a Nov. 13 Bloomberg report.
Bloomberg refers to a press release issued by the International Diabetes Federation, which announced the release of the 5th edition of the Diabetes Atlas on Nov. 14, World Diabetes Day.
According to IDF, about 366 million people have the disease now, as many as 183 million have the disease and don’t know it, and about 552 million will have diabetes by 2030 if nothing is done to curb the epidemic.
The good news is that by bringing such startling statistics to light, a greater awareness and education can continue to address the disease. Treatments require products from companies such as Sanofi, Novo Nordisk, and Eli Lilly, noted in the Bloomberg report as “among makers of drugs to treat diabetes. Sales of such therapies grew 12 percent last year to $34 billion.”
Those treatments require packaging materials and machinery. That includes everything from colloidal silver bandages to help heal wounds to pens, needles, syringes, sharps containers, etc., and the necessary machinery to fill, label, and pack them.
One example is Smith & Nephew’s announcement of its PICO system —a single-use, negative-pressure wound therapy system whose packaging and advertising will include an MS Tag that links to an application/mechanism of action video, eliminating the need for complex training modules.
“Advanced Wound Care: World Market Prospects, 2011-2021,” forecasts rapid growth for wound care devices and biologics within the advanced wound care market, which it estimates to be worth $6.7 billion this year.
BCC Research’s “Diabetes Therapies & Diagnostics: Global Markets” notes that last year the market was valued at $38 billion. BCC forecasts a 6.1% compound annual growth rate, with the market reaching $51.2 billion in 2015.