What is Antidiabetic Drug Market Scope?
According to the International Diabetes Federation estimates, the prevalence of diabetes is anticipated to escalate from 366 million in 2011 to 552 million by 2030. Statistically, approximately 80% to 90% of the patients diagnosed with diabetes are also treated with obesity. Moreover, Type I and type II diabetes is expected to propel the demand for oral hypoglycemic drugs as it is a proven diabetes controller among patients globally. Further, the rising investments on healthcare facilities have led the pharmaceutical industry to experiment with more pipeline drugs for diabetes which in turn is fostering the global anti diabetes drugs market.
The Antidiabetic Drug market study is being classified by Type (Type II Diabetes) and major geographies with country level break-up. According to AMA, the Global Antidiabetic Drug market is expected to see growth rate of 7.35% and may see market size of USD110896.57 Million by 2026.
Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Antidiabetic Drug market throughout the predicted period.
Sanofi-Aventis (France), Eli Lilly and Company (United States), Oramed Pharmaceuticals (Israel), Takeda Pharmaceuticals Private Limited (Japan), Boehringer Ingelheim (Germany), Novo Nordisk (Denmark), Halozyme Therapeutics (United States), Bristol-Myers Squibb Company (United States), Pfizer Inc. (United States), Tonghua Dongbao Pharmaceutical Co., Ltd. (China), Astellas Pharma Inc.(Japan), Merck and Co.Inc.(United States) and AstraZeneca plc (United Kingdom) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Janssen Pharmaceuticals, Inc.(Belgium), Biocon (India) and Wockhardt Limited (India).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Antidiabetic Drug market by Type, Application and Region.
On the basis of geography, the market of Antidiabetic Drug has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
September 2017, Biocon and JDRF, a leading global organization funding Type 1 diabetes (T1D) research and advocacy worldwide, announced a partnership to support a global study with an oral insulin drug candidate, Insulin Tregopil, in people with T1D. and Insulin Tregopil, an oral insulin molecule being developed by Biocon, is one of the advanced programs in the global oral insulin space. The fast-acting oral insulin could improve post-prandial glucose control with reduced side effects and greater adherence, thus holding a promise to transform T1D management
January 2019, The Endocrinologic and Metabolic Drugs Advisory Committee of the Food and Drug Administration announced the benefits of Zynquista (sotagliflozin) outweighed the risks to support approval. Sotagliflozin is an investigational oral dual SGLT1 and SGLT2 inhibitor under regulatory review as an adjunct to insulin for the treatment of adults with type 1 diabetes (T1D).
Influencing Market Trend
- Introduction of new Product Launch and Commercialization of Products in the Pipeline
- Rising Demand for Oral Drugs to Reduce Sugar Level among Diabetic Population
Market Drivers
- Increasing Prevalence of Diabetes Population among Patients
- Rising Disposable Income and Sedentary Lifestyle of Consumers
- Increasing Government Support and Awareness Related to Diabetes
Opportunities
- High Investment in Healthcare Sector by the Government to Improve Medical Infrastructure
Restraints
- High Cost of Antidiabetic Drugs may hamper the Market Growth
Challenges
- Stringent Government Regulations and Lack of Awareness about Therapeutic Drug Treatment for Diabetes
Key Target Audience
Anti-Diabetes Drug Manufacturers, Industry Association, Downstream Vendors, Marketing & Consulting firms, Venture Capitalists, Government & Regulatory Bodies and Traders/Suppliers & Distributors
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