Diabetes Drugs Market was valued US$ XX Mn in 2018 and is expected to reach US$ XX Mn by 2027, at a XX% CAGR of around XX% during a forecast period.
Diabetes Drugs Market
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Diabetes drugs are the medicines which are used for the treatment of diabetes mellitus type 1 and type 2, and it maintains the regular blood glucose level of the body. There are several classes of drugs that are available to treat the diabetes and these drugs can be administered via Gestational Diabetes, Impaired Glucose Tolerance and Impaired Fasting Glycaemia route or intravenous and subcutaneous routes.
The scope of the report includes a detailed study of global and regional markets for Diabetes Drugs with the reasons given for variants in the growth of the industry in certain regions.
Increasing incidence of diabetes, particularly type 2 diabetes, and the growing demand for effective drug therapies for the treatment of diabetes are the factors expected to increase the diabetes drugs market throughout the forecast period. Recently, Centers for Disease Control and Prevention (CDC) reported that, around XX.X million people in the U.S. were suffering from diabetes and among that XX.X million people were diagnosed with diabetes, and the remaining were still undiagnosed. Similarly, according to International Diabetes Federation, it was estimated that XXX million adult population were suffering from diabetes which is increasing at the rate of 8.4% and is expected to reach XXX million by 2027. The approvals of new drugs like Canagliflozin and dapagliflozin for the treatment of diabetes, would generate several opportunities for new as well as existing players in the diabetes drugs market. The growing diabetic population, technological improvements and the raising adoption rate in emerging regions are the key factors, which would drive the growth of diabetes drugs market over forecast period. Similarly, increase in obesity, rising adoption of a sedentary lifestyle and upsurge in consumption of unhealthy diet are expected to enhance the incidence of diabetes which are expected to boost the market throughout the forecast period. Increasing geriatric population across the world and rising incidence and prevalence of diabetes such as Type 2 diabetes and Type 1 diabetes are some of the factors expected to drive the growth of Diabetes drugs market during the forecast period. While, two major factors that restrain the market growth are stringent regulatory environment and time consuming approval process.
The report on Diabetes Drugs market covers segments such as By Treatment Type, Disease Type, Distribution Channel and Region. The Treatment Type segment includes Glucagon-like peptide-1 (GLP-1) agonist, Dipeptidyl-peptidase-4 (DPP-4) inhibitors, Sodium glucose co-transporter 2 (SGLT2) inhibitors, Insulin, Exenatide, Liragultide, Pramlintide, Biguanides, Sulfonylureas, Meglitinides and D-Phenylalanine Derivatives, Thiazolidinediones, DPP-4 Inhibitors, Alpha-glucosidase Inhibitors, Bile Acid Sequestrants, and Others (Combination Pills). Among the Treatment Type, Insulin is accounted for the largest XX% market share in the Diabetes Drugs market, due to its high price, and need & demand for insulin. Insulin is anticipated to lead the market in the forecast period, due to the increasing geriatric population and high per capita income. SGLT2 is expected to grow throughout the forecast period due to patents and exclusivity held for the drugs of this segment by the key players. The others segment comprises the combination drugs and other drug classes are expected to grow throughout the forecast period. The Glucagon-like peptide-1 (GLP-1) agonist is expected to grow throughout the forecast period because of increasing incidence of diabetes all over the globe. Dipeptidyl-peptidase-4 (DPP-4) inhibitors held second large market share in 2018, nevertheless, the segment is expected to fall in the growth rate throughout the forecast period owing to patent and exclusivity expiry.
The Disease Type segment is further sub-segmented into Type 1 Diabetes, Type 2 Diabetes, Gestational Diabetes, Impaired Glucose Tolerance and Impaired Fasting Glycaemia. Type 2 diabetes has accounted for greatest market share owing to growing disposable income and increasing occurrence of obesity. Raising physical inactivity generated demand for the diabetes drugs. Type 1 diabetes held the second large market share in 2018 due to raising environmental damage all over the globe that is supporting to the increasing incidence of type 1 diabetes. Gestational diabetes and impaired glucose tolerance and impaired fasting glycaemia are expected to grow throughout the forecast period, due to the high occurrence of diabetes in the relatives and heredity reason.
Based on Distribution Channel, the Diabetes Drugs market is sub-segmented into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. The hospital Pharmacies occupied highest market share in 2018, due to the convenience of trained & qualified personnel and promising reimbursement structure. The online Pharmacies is projected to demonstration highest CAGR in the forecast period, which is recognized to the technological adaptation and acceptance of online Pharmacies by population. The retail Pharmacies demonstrated the reasonable market share in 2018 due to increasing geriatric population & developments in the healthcare amenities in emerging countries are estimated to drive the popularity of retail Pharmacies throughout the forecast period. Nevertheless, indefinite reimbursement consequences across the globe are indorsed to hamper the diabetes drugs market to some magnitude throughout the forecast period.
Based on regional segment, the Diabetes Drugs market is sub-segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America leads the diabetes drug market due to large diabetic patient population. Additionally, raising number of obesity in people, fluctuating lifestyle and growing healthcare expenditure have boosted the growth of the diabetes drug market in North America. Moreover, growing awareness between the people about different monitoring techniques, increasing awareness and well-developed technology have also promoted to the growth of diabetes drug market. Europe is register for the second largest diabetes drug market, and then Asia Pacific hold third position in the market. Massive smoking population, availability of funds for research, and government provision for research & development will drive the diabetes drug market in Europe. Asia Pacific is the fastest growing region for the diabetes drug market owing to the existence of a huge patient population, constantly emerging economies, and raising need for the enhanced treatment. Instead of this, the Middle East & Africa has the least share in the diabetes drug market due to presence of poor economy particularly in Africa region. Middle East holds the key share in the Middle East & Africa diabetes drug market due to well-developed healthcare area and huge healthcare expenditure.
Key players operating in the Diabetes Drugs market are Nordisk A/S, Merck & Co., Inc., Novartis AG, Boehringer Ingelheim GmbH, Sanofi, Bayer AG, Johnson & Johnson, Eli Lilly and Company, Takeda Pharmaceutical Company Limited, Abbott laboratories, Biocon ltd, Bristol-Myers Squibb, Dr. Reddy's laboratories ltd., Glaxosmithkline, Lupin ltd, Piramal healthcare ltd., Ranbaxy laboratories ltd., AstraZeneca, Sunpharma, Pfizer, Daiichi Sankyo, Akros Pharma, Amgen, Adocia, and Peptron.
GlaxoSmithKline plc. received US$ 6.6 Mn from Tres Cantos Open Lab Foundation (TCOLF) for innovation and research on diseases impacting the developing world in September 2018. Additionally, Pfizer, Inc. partnered with GlaxoSmithKline plc. to form a joint venture to create the world’s largest over-the-counter (OTC) business, in August 2018. The companies functioning in the market are concentrating on R&D investments and fund raising activities to drive clinical trials that lead to robust product pipeline. As detection rate and market perception withstand to expand, there are anticipations for market growth during forecast period. Furthermore, innovative product sanctions in the market will further drive the market growth.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Diabetes Drugs market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by Product, price, financial position, Product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment shortly to the emerging segment in the Diabetes Drugs market.
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Scope of the Diabetes Drugs Market: Inquire before buying
Diabetes Drugs Market, By Treatment Type
• Glucagon-like peptide-1 (GLP-1) agonist
• Dipeptidyl-peptidase-4 (DPP-4) inhibitors
• Sodium glucose co-transporter 2 (SGLT2) inhibitors
• Meglitinides and D-Phenylalanine Derivatives
• DPP-4 Inhibitors
• Alpha-glucosidase Inhibitors
• Bile Acid Sequestrants
• Others (Combination Pills)
Diabetes Drugs Market, By Disease Type
• Type 1 Diabetes
• Type 2 Diabetes
• Gestational Diabetes
• Impaired Glucose Tolerance and Impaired Fasting Glycaemia
Diabetes Drugs Market, By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
Diabetes Drugs Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Diabetes Drugs Market
• Nordisk A/S
• Merck & Co., Inc.
• Novartis AG
• Boehringer Ingelheim GmbH
• Bayer AG
• Johnson & Johnson
• Eli Lilly and Company
• Takeda Pharmaceutical Company Limited.
• Abbott laboratories
• Biocon ltd.
• Bristol-Myers Squibb
• Dr. Reddy's laboratories ltd.
• Lupin ltd.
• Piramal healthcare ltd.
• Ranbaxy laboratories ltd.
• Daiichi Sankyo
• Akros Pharma
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