The Gemigliptin Market is estimated to be valued at US$ 1.79 billion in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Gemigliptin is a potent and selective dipeptidyl peptidase-4 (DPP-4) inhibitor used in the management of type 2 diabetes mellitus. With its unique chemical structure, Gemigliptin effectively lowers blood glucose levels by enhancing the action of incretin hormones. This oral medication offers promising results in gycemic control, promoting glucose-dependent insulin secretion and supressing glucagon release. As a newer entrant in the DPP-4 inhibitor class, Gemiglipti’s safety profile and efficacy make it valuable option for diabetes patients seeking improved glucose regulation and reduced risk of hypoglycaemia.
The Gemigliptin Market is driven by the rising prevalence of diabetes worldwide. As the number of people affected by diabetes continues to surge, there is a growing demand for effective treatment options. Gemigliptin, an oral medication used for the treatment of type 2 diabetes, has gained significant popularity due to its effectiveness in controlling blood sugar levels. It belongs to the class of drugs called dipeptidyl peptidase-4 (DPP-4) inhibitors, which work by increasing the levels of incretin hormones in the body. Gemigliptin helps in reducing blood glucose levels and improving glycemic control in patients with type 2 diabetes. The market for gemigliptin is also driven by the increasing investments in research and development activities to enhance the drug’s efficacy and safety profiles.
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Some of the Top Players in Gemigliptin Market: LG Chem, Hanmi Pharmaceutical Co., Ltd., Boryung Pharmaceutical Co., Ltd., Novartis AG, EirGenix, Inc., Biocon Limited, G.L. Pharma GmbH, Daewoong Pharmaceutical Co., Ltd., Sandoz International GmbH, Boryung Pharmaceutical Co., Ltd., VHB Life Sciences Limited, HanAll Biopharma, Taiba Healthcare, Huons Co., Ltd., Dong-A ST Co., Ltd.
- By Type of Drug: Gemigliptin Monotherapy, Gemigliptin Combination Therapy
- By Dosage Form: Gemigliptin Tablets, Gemigliptin Injectable
- By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
- By End-User: Hospitals, Clinics and Outpatient Facilities, Homecare Settings
- By Application: Type 2 Diabetes, Prediabetes
- By Patient Demographics: Adult Population, Geriatric Population
Two Market Drivers for Gemigliptin Market:
- Increasing Prevalence of Diabetes:
The growing prevalence of diabetes worldwide is one of the key drivers for the Gemigliptin market. According to the International Diabetes Federation, the global number of adults living with diabetes was estimated to be 463 million in 2019 and is projected to reach 700 million by 2045. This significant increase in the diabetic population is expected to increase the demand for anti-diabetic drugs, including Gemigliptin.
Gemigliptin, a dipeptidyl peptidase-4 (DPP-4) inhibitor, is commonly used as a second-line treatment for type 2 diabetes mellitus. It helps in controlling blood sugar levels by enhancing insulin secretion and suppressing glucagon release. With the rising prevalence of diabetes, there is an increased need for effective medications like Gemigliptin to manage the disease, driving the growth of the Gemigliptin market.
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- Growing Geriatric Population:
The increasing geriatric population is another significant market driver for Gemigliptin. Aging is a major risk factor for developing type 2 diabetes, as it is often associated with poor lifestyle choices, genetic predisposition, and age-related metabolic changes. According to the World Health Organization, the global population aged 60 years and above is expected to reach 2.1 billion by 2050, doubling from the 2015 figure of 900 million.
Older adults are more prone to developing diabetes and its complications, necessitating the use of medications like Gemigliptin for effective disease management. Additionally, the elderly population is more likely to have multiple comorbidities, such as cardiovascular diseases, hypertension, and obesity, which commonly coexist with diabetes. Gemigliptin, with its favorable safety and efficacy profile, is often prescribed to the elderly population, driving the demand for this drug.
Two Market Restraints for Gemigliptin Market:
- Stringent Regulatory Approval Process:
The stringent regulatory approval process is one of the market restraints for the Gemigliptin market. Before a drug can be marketed and sold, it must go through various stages of clinical trials and regulatory approvals to ensure its safety and efficacy. These processes involve substantial time and financial investments, often prolonging the time to market for new drugs.
Gemigliptin, being a relatively new drug, must undergo rigorous clinical trials and meet the regulatory requirements of each country it aims to enter. This can lead to delays in its availability in certain markets, which can hinder its overall market growth. Furthermore, the stringent approval processes can also result in high development costs, which may lead to higher pricing of the drug, negatively impacting its market adoption.
- Competition from Established DPP-4 Inhibitors:
Competition from established dipeptidyl peptidase-4 (DPP-4) inhibitors poses a challenge to the growth of the Gemigliptin market. DPP-4 inhibitors are a widely used class of oral antidiabetic drugs that are commonly prescribed as second-line therapy for type 2 diabetes. Some of the well-established DPP-4 inhibitors in the market include sitagliptin, saxagliptin, and linagliptin.
Table of Contents with Major Points:
- Key Findings
- Definitions and Assumptions
- Definition of Gemigliptin Market
- Market Dynamics
- Trends and Developments
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Gemigliptin Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Data Sources
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