Rising incidences of diabetes and intake of unhealthy dietary habits, along with global advancements in technology, are some crucial drivers increasing the market demand for antidiabetics.
Market Size: USD 67.39 billion in 2019, Growth Rate: 10.2%, Market Trends: Rising population, unhealthy lifestyles, and increased incidences of high cholesterol.
The global antidiabetics market is expected to reach USD 147.92 billion by 2027 from USD 67.39 billion in 2019, with a CAGR of 10.2% through the forecast period.
As estimated by the European Society of Cardiology, diabetic cases worldwide will account for 628.6 billion by 2045. The rising occurrence of diabetes due to unhealthy eating habits such as alcohol consumption, smoking tobacco, and lack of physical activities are significant factors escalating the market for antidiabetics.
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Many campaigns and educational programs are being organized by governments and diabetes associations to raise awareness about diabetes along with ways and benefits of controlling diabetes. These factors are predicted to increase the market demand for antidiabetics.
The escalating geriatric population worldwide will increase the scope for industry expansion as many diseases commonly associated with type 2 diabetes, such as vascular diseases, stroke, or coronary heart diseases, are widely seen in the geriatric population.
There has been extensive clinical research on various combination drugs such as sitagliptin and metformin, and many other drugs. The antidiabetics market is also expanding due to the existence of several key market players. They have adopted various strategies, including mergers, new product launches, collaborations, and capital expansion. They are also investing enormously in the research and development of new drug therapies.
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Further findings in the report:
- On the basis of product, the insulin sub-segment held 67.07% of the global antidiabetics market in 2018 and is expected to expand at a CAGR of 12.4% owing to the large type-2 diabetic patient pool and the incorporation of short-acting analog proved to be effective for controlling postprandial glucose in type 1 and type 2 diabetes.
- The geriatric sub-segment is the highest contributor to the global antidiabetics market based on the patient type.
- Based on administration route, the insulin pump sub-segment is estimated to grow at a substantial CAGR of 11% during the forecast period. This is mainly due to a high preference for insulin pumps as they offer benefits such as less glucose inconsistency and lowers the rate of severe glycemic episodes.
- Key players are also investing enormously in the research and development of new drug therapies. For instance, on 28th July 2020, AstraZeneca received Fast Track Designation for its drug FARXIGA® approved for treating type 2 diabetes and risk associated with hHF cardiovascular death. Mankind Pharmaceuticals collaborated with Glenmark Pharmaceuticals and launched an antidiabetic drug, ‘remoglifozin,’ in India in December 2019.
- North America held a market share of 38.7% of global antidiabetics and is expected to register a CAGR of 10.3% during the projection period. The growing occurrences of diabetes among the pediatric and geriatric population has boosted the demand for antidiabetics in this region.
- The Asia Pacific region is estimated to expand at the highest CAGR of around 10.5% during the foreseen period due to the existence of a large patient pool for diabetes and considerable investments in the infrastructure and healthcare expenditure in the APAC region.
- Europe held a market share of 26.3% by 2019 and is expected to grow at a substantial CAGR of 10.2% during the projected period.
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Key Market Players:
- Bayer Corporation
- Eli Lilly
- Novartis
- Sanofi
- Bristol-Myers Squibb
- AstraZeneca
- Pfizer
- Novo Nordisk
- Johnson & Johnson
- Takeda Pharmaceutical
- Oramed Pharmaceuticals
- Merck
- Boehringer Ingelheim
For the purpose of this study, Reports and Data has segmented the Global Antidiabetics Market on the basis of patient type, application, product, administration mode and region:
Patient Type Outlook (Revenue, USD Million; 2017-2027)
- Pediatric
- Adult
- Geriatric
Application Outlook (Revenue, USD Million; 2017-2027)
- Type I Diabetes
- Type II Diabetes
Product Outlook (Revenue, USD Million; 2017-2027)
- Drug class
- Insulin
Administration Mode Outlook (Revenue, USD Million; 2017-2027)
- Oral
- Insulin Pump
- Intravenous Infusion
- Insulin Syringe/Insulin Pen
Regional Outlook (Revenue, USD Million; 2017-2027)
North America
- U.S.
Europe
- France
- U.K.
Asia Pacific
- China
- India
- Japan
Latin America
- Brazil
Middle East & Africa
Table of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Antidiabetics Market Segmentation & Impact Analysis
4.1. Antidiabetics Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Rising incidences of diabetes
4.2.2.2. Rising number of obese/overweight people
4.2.3. Market restraints analysis
4.2.3.1. High cost of insulin
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
Continued….
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