By IANS
Geneva : A Swiss medical company, Ypsomed, is planning to tap the growing market for insulin pen injectors in India, according to a report by Swiss news agency ATS.
The medical technologies companies, based in the Bern region, has already set up a subsidiary in New Delhi.
The number of diabetes patients in India is expected to double in 20 years to 75 million. The company estimates that the market for insulin is expected to grow from 88 millions Swiss francs (about $80 million) in 2005 to 1221 million Swiss francs in 2010.
Ypsomed already has an Asian distribution network for its product in Malaysia, Singapore and Iran. The group plans to invest 35 million Swiss francs in the next two years to develop its insulin pen injectors at its site in Soleure.