About Diabetes Drugs
Diabetes is a condition that occurs when your blood glucose, also known as blood sugar, is too high. The diabetes drug is used to treat diabetes mellitus by lowering the glucose levels in the blood. The global diabetes drug market is expected to witness significant growth in the near future. The growing geriatric population across the globe prone to age-related medical conditions such as diabetes and blood pressure is also fueling the diabetes drugs market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
On 31 May, 2018, Abbott announced today the launch of its Afinion™ 2 analyzer in the U.S., the newest generation of the Afinion test system. The Afinion 2 builds on Abbott's heritage in diabetes care by empowering patients with information about their health that they can discuss with their providers during a single visit Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Diabetes Drugs market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
NovoNordisk (Denmark), Sanofi (France), Eli Lilly (United States), Biocon (India), Boehringer Ingelheim (Germany), Bristol Myers Squibb (United States), Julphar (United Arab Emirates), Abbott Laboratories (United States), Johnson & Johnson (United States), AstraZeneca (United Kingdom), GlaxoSmithKline PLC (United Kingdom), Merck & Co. (United States) and Novartis (Switzerland) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are ExirPharma Co (Iran), Sedico (Egypt), Wockhardt (India), Mylan (United States), Pfizer (United States) and Astellas Pharma (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Diabetes Drugs market by Type (Injectable Drugs and Oral Drugs), Application (Type 1 Diabetes, Type 2 Diabetes and Gestational diabetes) and Region.
On the basis of Type, Injectable Drugs are dominating the market in the year 2023 where as Oral Drugs stood as second largest market share.
On the basis of application, Type 1 Diabetes segment is dominating the market in the year 2023 where as Type 2 Diabetes segment stood as second largest market .On the basis of geography, the market of Diabetes Drugs 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). Asia Pacific region held largest market share in the year 2023. North America, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Hospital Pharmacies will boost the Diabetes Drugs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Acceptance of novel drugs drive sales
Market Growth Drivers:
Rising number of diabetics across the globe and Complexity of alternative diabetes management therapies
Challenges:
Cost sensitivity of diabetes drugs
Restraints:
Lack of awareness among patients
Opportunities:
Introduction of diabetes vaccines & inhalable insulin and Increasing diabetes care centers in developing economies
mHealth smartphone applications (apps) offer great promise for managing people with diabetes, as well as those with prediabetes. But to realize that potential, industry needs to get clarity from the U.S. Food and Drug Administration (FDA) regarding the scope of its regulatory oversight
Key Target Audience
Manufacturers of diabetes drug, Suppliers of diabetes drug parts, Wholesalers, distributers and retailers of diabetes drug, Healthcare industry, Pharmaceuticals, Diabetic care center, Governmental bodies, Research Firm and End user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.