There is a brutal truth in pharma… Pharma companies exist to make money. End of story. Many people have expressed similar sentiment I’m sure, but I recently received a press release that put the situation into the spotlight for me and the diabetes community… and believe me, pharma really should have hit makeup before that light got turned on.
Here’s a link to the GBI Research report about the Advanced Wound Management Market to 2019 – Increasing Incidence of Diabetes Leading to Chronic Wounds in Emerging Countries will Drive Future Growth that you can buy for $3,500.
The press release that I received from Kevin McHugh (GBI Research) [firstname.lastname@example.org] states:
“According to the firm’s new analysis*, the global advanced wound management market will reach a value of $4.4 billion in 2019 from $3.1 billion in 2012, climbing at a Compound Annual Growth Rate (CAGR) of 5.7%.
Last year, over 70% of the market was claimed by Europe and North America, with the Asia-Pacific region accounting for a relatively modest 21%. However, over the next few years the huge number of diabetes sufferers across countries such as China and India will prompt greater demand for wound dressing supplies across Asia.
Advanced wound management products are particularly critical for diabetes patients who suffer from chronic wounds such as foot and pressure ulcers, which pose a significant risk to the body and can lead to amputation and even loss of life.
China currently has the largest diabetes patient pool of any country, with 92 million adults diagnosed in 2012, expected to increase by 40% to 129 million by 2030. Correspondingly, the country’s advanced wound care management market is expected to undergo significant growth, forecast to see last year’s total revenue of $107m more than double to $269m in 2019 at a substantial CAGR of 14% – the highest growth rate of any of the 12 countries studied in the report.
Japan – currently Asia’s most valuable market for advanced wound management products – is expected to demonstrate less impressive growth due to greater saturation, with GBI Research forecasting revenue to climb at a CAGR of 3.3%, from $405m in 2012 to $509m in 2019.”
As an investor, wound treatment might be a technology to invest in. The analysis seems reasonable and I’m not challenging it’s content. I am challenging the message it sends.
As a diabetic and advocate I see Pharma wanting the diabetes incident rates, hopefully with wound complications, to continue to increase. I see yet another instance of the patient being forgotten, only used as an end to a means. I read
Let’s treat complications and ignore the causes and the patients whose lives are in danger
When will the continued costs of complications force research to actually find a cause for the rapid increase in the rate of diabetes diagnosis? Could we actually get a cure for some disease instead of the next “breakthrough!!” treatment?
The continued cost of complications and the increasing amount of research funds being funneled in that direction makes me wonder how long that little bubble can last before it collapses in on itself.
Oh wait, we’re talking healthcare where no one can explain why something costs what it costs.
PS: Another post by Regina Holliday expresses similar concerns about patients and their stories being used as marketing tools Patients as Brand, Advocates. It’s a great read check it out.
© 2013 Scott Strange, Strangely Diabetic and http://StrangelyDiabetic.