The Global Diabetes Drugs Market is expected to reach US$ 78,261.7 mn by 2026 owing to rising prevalence of diabetes the world over. Key insights into this growing market have been shared by Fortune Business Insights in its report, titled “Diabetes Drugs Market Size, Share and Global Trend By Drug Class (Insulin, DPP-4 Inhibitors, GLP-1 Receptor Agonists, SGLT2 Inhibitors), Diabetes Type (Type 1, Type 2), Route of Administration (Oral, Subcutaneous, Intravenous), Distribution Channel (Online pharmacies, Hospital Pharmacies, Retail Pharmacies) & Geography Forecast till 2026”.
The report comprehensively analyses the major factors that will influence the growth of the market. Diabetes is a chronic disease in which a person’s blood sugar or blood glucose gets too high. This glucose gets absorbed in the body through a hormone called insulin which is made in the pancreas. Insulin helps glucose enter the body’s cells, which, in turn, give the body energy to function.
Some of the Main Key Players Covered in the Diabetes Drugs Market Report
- Johnson & Johnson
- Bayer Pharmaceuticals
- Novo Nordisk
- Eli Lilly and Company
- Takeda Pharmaceutical Company Limited
- Boehringer Ingelheim
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North America Expected to Dominate the Market
North America is expected to hold a large chunk of the market share in the forecast period. This evaluation is based on the region’s revenue generation of USD 23,965.5 million in 2018. Moreover, rising prevalence of diabetes in the US is encouraging companies to develop novel and affordable drugs for the patients.
Growing awareness among the people regarding diabetes and anti-diabetic drugs in North America will aid growth of the global diabetes drugs market. North America is expected to be followed by Europe in terms of market share and revenue generation during the forecast period.
When the body does not make enough insulin or fails to make any insulin at all, a person becomes diabetic. The disease has no cure and can cause major health problems with age. Diabetes drugs are the medication that an affected person has to consume to regulate her glucose levels.
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Rising Demand for Insulin Treatments to Surge the Market
Insulin provides the one of the most efficient treatment methods for diabetes. As a result, there is a growing demand for low-cost insulin treatments, especially to combat Type 2 diabetes. The rapidly rising insulin segment is, therefore, expected to boost the global diabetes drugs market during the forecast period. This has also encouraged private and public investments in research and development, which, in turn, will accelerate market growth. For example, recently, a rapid-acting, low-cost insulin called Lispro was launched in its generic form by Eli Lilly and Company in the US.
Market Competition Set to Intensify
Key players are increasing their investments in research and development activities and launching new products to maintain their competitive edge. For example, in July 2019, the National Institute for Health and Care Excellence cleared Forxiga for treating Type 1 diabetes in England and Wales. The drug has been developed jointly by Bristol-Myers Squibb and AstraZeneca. The global diabetes drug market is expected to grow as a result.
Fortune Business Insights identifies some key players in the market which include Johnson and Johnson Services, Eli Lilly and Company, AstraZeneca, Novartis AG, Novo Nordisk A/S, Boehringer Ingelheim International GmbH, Sanofi, and a few others.
TOC Followed by Diabetes Drugs Market:
1.Introduction of Diabetes Drugs Market
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1 Prevalence of Diabetes – For Key Countries, 2018
4.2 Pipeline Analysis
4.3 Key Industry Developments –Mergers, Acquisitions and Partnerships
4.4 Introduction of New Drugs/Approvals (by major players)
4.5 Overview of Regulatory Scenario of Key Countries/ Regions
5. Global Diabetes Drugs Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Drug Class
5.2.2 DPP-4 Inhibitors
5.2.3 GLP-1 Receptor Agonists
5.2.4 SGLT2 Inhibitors
5.3. Market Analysis, Insights and Forecast – By Diabetes Type
5.3.1 Diabetes 1
5.3.2 Diabetes 2
5.4 Market Analysis, Insights and Forecast – By Route of Administration