A new American Cancer Society study revealed that as sugary beverages have become more affordable around the world, global sugar consumption has climbed. This trend is expected to continue throughout forecast years, driving the growth of diseases such as diabetes. Prices of sugar-sweetened beverages have dropped to almost half since 1990, making them a much more affordable beverage than even bottled water. Studies in the past have shown that soda poses an especially high risk for causing diabetes because it is less likely to satiate consumers, leading them to drink excessive amounts of sugar. In fact, the regular consumption of soda has been shown to increase the risk of developing type 2 diabetes by over 25%. As sugary soda consumption increases around the world, the global number of diabetic patients is expected to surge.
Research from GlobalData estimates that the current diabetes care market, including glucose monitoring and insulin delivery devices, is worth $22.0BN USD, and is forecast to reach $30.0BN USD by 2022. The increasing sales and consumption of sugary beverages is sure to be a strong driver of the diabetes care market, which is estimated to grow at a CAGR of 6.15% throughout the forecast years.
For more strategic insight into medical trends, take a look at GlobalData's latest reports.