Pharmacological research is the most promising way to reduce the burden of type 2 diabetes worldwide. This has increased R & D activities in the Diabetes Remedies segment and has developed new variants of antidiabetic drugs.
According to a report published by Allied Market Research, the Diabetes Therapeutics Market garnered $66.99 billion in 2016 and is estimated to reach $186.84 billion by 2023, growing at a CAGR of 16% from 2017 to 2023. The report offers an extensive analysis of the market drivers, restraints, and opportunities, key investment areas, vital segments, market size & projections, and the competitive landscape. These insights are helpful for market players, investors, stakeholders, and new entrants to understand the market and gain a major market share and international presence.
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The report offers a complete study on the industry growth drivers, restraints, and opportunities of the global diabetes therapeutics market. Rise in geriatric population, increase in prevalence of diabetes worldwide due to increased obesity, urbanization, poor diet, and substandard healthcare conditions in some developing and underdeveloped countries, the development of affordable & effective diabetes therapeutics, growth in awareness among people about self-management of diabetes, and support from the government drive the growth of the market. However, side effects of diabetic drugs and stringent approval process for drugs act as impediments for the growth of the market. Conversely, rise in awareness of diabetes care and untapped market opportunities in developing regions are expected to provide lucrative opportunities for the industry growth.
The report also provides an in-depth analysis of the segments of the diabetes therapeutics market. The industry is segmented based on product and geography. The product segment is bifurcated into injectables and oral-antidiabetic drugs (OAD). The injectables segment is divided into insulin, glucagon-like peptide-1 (GLP-1) receptor agonists/incretin mimetics, and amylin analogue/amylinomimetic drugs. The oral-antidiabetic drugs (OAD) segment is divided into biguanides, sulfonylureas, thiazolidinediones, alpha-glucosidase inhibitors, dipeptidyl peptidase IV (DPP-4) inhibitors/gliptins, meglitinides, and sodium-glucose cotransporter-2 (SGLT2) inhibitors/gliflozins. Geographically, the market analysis is done for the regions such as North America, Europe, Asia-Pacific, and LAMEA. In North America, the market is analyzed across the U.S., Canada, and Mexico. In Europe, the market analysis has been done for UK, Germany, France, Spain, Italy, and the rest of Europe. The market study in Asia-Pacific covers China, Japan, India, Australia, South Korea, and the other parts of Asia-Pacific. The market analysis in LAMEA covers Brazil, Saudi Arabia, South Africa, and the rest of LAMEA.
The report offers a comprehensive analysis of the leading players operating in the diabetes therapeutics market. They include Biomedical Diagnostics, BioMerieux, Abbott Laboratories, Bio-Rad, Dako, DiaSorin, Eiken and Fujirebio, Beckman Coulter. They have implemented various strategies such as partnerships, mergers & acquisitions, expansions, collaborations, joint ventures, and others to gain a leadership status in the industry.
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