Acumen Research and Consulting estimates that global Antidiabetics market is expected to reach the market value of around US$ 75 Bn by 2027 and is anticipated to grow at a CAGR of around 10.3% in terms of revenue during the forecast period 2020-2027
Diabetes is a chronic metabolic condition in which the body cannot produce insulin (Type-1) because insulin (Type-2) is not available. Diabetes is a metabolic type of disease in which a person has elevated blood glucose (blood sugar) or body cells that do not respond sufficiently to insulin, or both. Increased thirst (polydipsia), weight loss, increased appetite (polyphagia), and increased and sweet-smelling urination (polyuria) can be seen in patients with elevated sugar levels. When diabetes is not treated, it causes a number of acute and life-threats.
The antidiabetic market contains drug that is also known as oral hypoglycemic / antihyperglycemic agents used for the diagnosis of diabetes mellitus. In recent years, the antidiabetics market has expanded tremendously, with the prevalence of diabetes mellitus increasing. Due to the growing number of diabetic individuals, systematic diabetes treatments have now become a focus problem in all income groups worldwide. Diabetes impacts medium-aged and adolescents. The report provides analysis of global antidiabetics market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
The global antidiabetic demand is powered by an ever-growing geriatric population, rising obesity among the public on numerous grounds, such as unhealthy eating habits and demanding and round-the-clock working conditions. Governments are likewise fueling business expansion programs to educate and increase awareness, enhance diabetes care, and innovate goods.
Many of the key drivers for this market growth include combinations of various medicines such as sitagliptin and metformin as well as other medicines in different stages during the process of clinical and pipeline production. Growing diabetes prevalence and new drug releases by major pharmaceutical firms are two of the main growth factors on this market.
Many of the major antidiabetic solution providers include a successful anti-diabetic pipeline and emerging companies, including the diabetes drug Tresiba by Novo Nordisk and the FDA clearance of Ryzodeg in September 2015. In fact, the Boehringer Ingelheim GmbH has a large diabetic drugs portfolio for patients with type II and elevated cardiovascular risk, such as Linagliptin (a dipeptidyl peptidase, DPP 4 inhibitor).
Nevertheless, all of these medicines have lost patent rights despite the existence of several antidiabetic branded medications. Despite immense demands from the government and the regulatory bodies that have banned top-selling medicines in multiple countries to allow lower quality generic drugs for diabetic patients. For eg, in November 2015, Mankind Pharma launched Dynaglipt (Teneligliphine), under DPP-4 inhibitors class in India for the middle to low revenue diabetic community.
The number of antidiabetics will then be moved to the market of first-generation pharmaceutical drugs and other generic medicines. In the case of antidiabetics which can treat many diabetes-related chronic diseases including cardiovascular disorders, dyslipidemia, hypertension etc., a significant unmet medical need has also been found. The lack in medication efficacy over a period and subsequent safety risks are another significant constraint in the antidiabetic market.
There are many medical regimens globally to seek to find a trustworthy cure for Covid-19. The use of Hydroxychloroquine is a method of therapy while the second line of therapy focuses on the application of antiviral medications used to treat HIV infections. The market for novel antivirals and anti-inflammatory medications has risen with all these strategies. At present, the WHO has neither recommended nor consulted on any of these methods, whether one is better than the other.
In 2019, the market for antidiabetics in North America had the highest share of the world. The high market success and the high standard of health insurance, understanding of the consumer, complexity of healthcare infrastructures and payment system are the main factors contributing to the widespread market penetration of conventional insulin drugs like long-acting, rapid-acts insulin analog and DPP-4 drug like Onglyza, Januvia, and Nesina.
Asia Pacific is expected to rise at the highest pace over the forecast era, owing to the increasingly growing rates of healthcare costs, the rising incidence of Type I and Type II diabetes and growing disposable patient income.
Key Players & Strategies
Participants include major global players Novartis AG, Novo Nordisk A/S, Johnson & Johnson, AstraZeneca, Merck & Co. Inc., Pfizer. Sanofi, and Others.
As a result of the introduction of innovative drugs such as Tresiba and the presence of a comprehensive distribution network in Asia Pacific, Western Europe and North America, Novo Nordisk held major market share.
Antidiabetics Market By Type
Antidiabetics Market By Mode of Administration
Insulin syringe / Insulin pen
Market By Region
Middle East & Africa
The antidiabetics market value is anticipated to be worth around US$ 75 Bn in 2027.
The antidiabetics market is anticipated to grow around 10.3% CAGR amid the forecast period 2020-2027.
North America held highest market share in 2019
Asia Pacific is projected to be the fastest growing region in the global market.
The global antidiabetic demand is powered by an ever-growing geriatric population, rising obesity among the public on numerous grounds, such as unhealthy eating habits and demanding and round-the-clock working conditions.
The key players include Novartis AG, Novo Nordisk A/S, Johnson & Johnson, AstraZeneca, Merck & Co. Inc., Pfizer. Sanofi, and Others
The drug class segment held the major share by type