Tapping the diabetes economy

In its report titled pharma 2020: The Vision-Which Path Will You Take? PricewaterhouseCoopers says that the number of Indians with diabetes, currently at 35 million, is projected to more than double to 73.5 million by 2025. The country's total bill for diabetes-related medical and other services-the so-called diabetes economy-will then be about $30 billion (Rs 1,23,000 crore). India is already the diabetes capital of the world and accounts for almost 20 per cent of the world's diabetic population.

Result: hospitals, pharmaceutical companies, insurers, FMCG companies and even health clubs and advertising agencies, are all focussing on this segment for a share of the pie. ICICI Prudential Life Insurance, for example, had come up with a policy for "Diabetes Care" to cater to people already suffering from Type 2 diabetes. Then, advertising agencies are pitching for the often multi-crore diabetes awareness campaigns that healthcare providers now launch almost as a matter of routine. Example: Euro RSCG has been assigned the creative duties for two brands from the Sanofi Aventis stable.