Eli Lilly (US), Novo Nordisk (Denmark), Abbott (US), AstraZeneca (UK), Biocon (US), Sunpharma (India), Sanofi (France), Novartis (Switzerland), Merck & Co. (US), Pfizer (US), Daiichi Sankyo (Japan), Boehringer Ingelheim (Germany), Akros Pharma (US), Amgen (US), Adocia (France), Peptron (South Korea), and Takeda (Japan) are some of the leading players at the cutting edge of the competition in the Diabetes Drug Market, globally.
Diabetes is a metabolic disorder in which the body glucose level is elevated. There are two type of diabetes namely type-1 diabetes and type-2 diabetes. During last decade there is a tremendous increase in the number of diabetic population. According to International Diabetes Federation, in 2016, Diabetes is a chronic disease which causes hyperglycemia (elevated blood sugar levels) which causes side effects such as diabetic ketoacidosis, cardiovascular disease, chronic kidney disease, retinal damage which can result in death. The global diabetes drug market is anticipated to grow at 6.38 % CAGR during forecasted period from 2016 to 2023.
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- Rising prevalence and incidence of Diabetes. The World Health Organizations estimates the global burden of type-2 diabetes to increase to 438 million by 2030 from 285 million people at the present
- Alarming rise in the number of cases in developing regions such as India. India is called the diabetes capital of the world with as many as 50 million diabetes patients, which is expected to reach 87 million patients in 2030.
- Growth in risk factors such as increasing obese population, sedentary lifestyles, sugar rich foods, lack of exercise
- Rising healthcare expenditure and strong encouragement from the government for anti-diabetic research. For example, the New National Health Policy 2017 (NHP) of India aims to reduce the mortality from diabetes by 25% by 2025.
- Rising research and development expenditures and strong research pipelines such as Glucagon-like peptide-1 receptor agonists or or incretin mimetics, Dipeptidyl peptidase-4 inhibitors which are the latest entrants.
Regional Analysis of Diabetes Drug Market
For the sake of the study the Diabetes drug market is segmented into regions of America, Europe, Asia Pacific, Middle East and Africa and rest of the world. The Americas have the largest market share in the global Diabetes drug market with a total diabetic population of 9.6% of total population in 2016. The Centers for Disease Control and Prevention estimates that in 2016, 73.5 million adults in the U.S. have elevated cholesterol level, a high marker of developing diabetes.
Europe accounts for the second largest diabetes drug market, which is led by the Southern regions of Europe, such as Spain, Italy, and Portugal due to high prevalence rates. Another market expected to demonstrate high growth is Turkey.
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