MedExel Expands into the World’s Second Largest Diabetes Market, India
MedExel Co., Ltd., a leading diabetes consumables manufacturer, has recently signed an agreement with the Indian subsidiary of NIPRO, a global Japanese needle manufacturer, to supply insulin pen needles.
With over 70% of its revenue generated from exports, MedExel is focused on expanding into new international markets. The collaboration with NIPRO’s regional subsidiaries has already extended MedExel’s reach into Southeast Asia, the Middle East, South America, and Oceania. The agreement with NIPRO’s Indian subsidiary is part of this strategic push into new diabetes consumables markets abroad.
India ranks second only to China in the number of diabetes patients worldwide. According to the International Diabetes Federation, as of 2017, India had an estimated 73 million adults with diabetes, making up more than 8% of the adult population. By 2035, this number is expected to reach 123 million, making India one of the most promising diabetes markets globally.
Shin Ja-ui , Executive Director of MedExel, explained, “The increase in diabetes cases in India is largely driven by unhealthy eating habits, urbanization, and an aging population. This trend is accelerating the entry of global pharmaceutical and medical device companies specializing in diabetes care into the Indian market.” He added, “Our contract with NIPRO’s Indian subsidiary will establish a solid foothold for MedExel’s products in India, allowing us to gradually increase our market share.”
Source : https://www.doctorsnews.co.kr/news/articleView.html?idxno=129890
