The global diabetes drugs market size is expected to reach around US$ 60.2 Bn by 2026 and growing at a CAGR of around 4.3% during the forecast period 2019 to 2026.
Diabetes drugs are the medicine which are used to treat diabetes mellitus type 1 and type 2 by reducing the blood glucose level of the body. There are distinctive classes of medication concerned in the treatment of diabetes that are administered via oral route or intravenous and subcutaneous routes.
The extended revenue per capita is leading to a sedentary lifestyle, an increase in obesity and a rise in the intake of an unhealthy diet are the major reason for diabetes. The developing inclination to body inactiveness will increase diabetes occurrence and the demand for diabetes drugs, in turn, will increase. This because of the rising diabetic population, technology advancement, increase sales of novel medicines, rising aging population and growing adoption rate in developing regions are important key factors driving the rise of the diabetes drugs market. Diabetes drug markets are driven by the growing prevalence of diabetes in both developing and developed countries. In addition, the government is taking steps to control diabetes also increases the growth of the diabetes drugs market. WHO reports that 422 million people globally suffered from diabetes. WHO has also indicated that 1.5 million people died from diabetes in 2012, boosting the market boom throughout the forecast period. The growing incidence of diabetes boosts the demand in the worldwide diabetes drugs market throughout the forecast period.
By drugs, insulin segment dominated the diabetes drugs market
Based on drugs, insulin segment is dominating the global diabetes drugs market because of low-cost insulin treatment and most efficient treatment for diabetes, especially to combat type 2 diabetes. The fast growing insulin segment is, therefore, anticipated to boost the worldwide diabetes drugs market throughout the forecast period. This has also persuade private and public investments in research and development, which, in turn, will speed up market growth.
By diabetes, type 2 diabetes segment dominated the diabetes drugs market
Based on diabetes type, type 2 diabetes segment is dominating the global diabetes drugs market. The Type 2 diabetes segment accounts for vital sales of the worldwide diabetes drug market a few of the different kinds. The excessive prevalence of type 2, due to sedentary lifestyles and obesity in all age groups is attributed to this situation. Around 10% of all diabetes cases are type1, and around 90% of all cases of diabetes global are of type 2. Therefore, estimated to raise the global diabetes drugs during the forecast period.
The market research study on “Diabetes Drugs Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”,offers a detailed insight into the global diabetes drugs market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global diabetes drugs market, its drugs, diabetes, route of administration, distribution channel, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global diabetes drugs market size and volume, and segment markets by drugs, diabetes, route of administration, distribution channel, and geography along with the information on companies operating in the market. The diabetes drugs market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
In 2018, North America dominated the regional market with a maximum market share
North America held the largest market share in 2018 and is anticipated to dominate the market during the forecast period. Growing investments in research and development activities via many government institutions and a rise in the widespread presence of diabetes are a few of the factors expected to account for the good-sized diabetes drugs market share in North America. In addition, increasing knowledge about the novel anti-diabetic drugs, the introduction of anti-diabetic drugs, and beneficial reimbursement plans are probable to boost the diabetic drugs market in North America. Europe is expected to be the second most important region in terms of revenue by 2026
Asia Pacific is expected to be the biggest market for diabetes drugs and is projected to register a higher CAGR, throughout of the forecast period due to the increasing knowledge about injectable drug delivery systems, growing patient pool and shift from traditional injectable to ready-to-use injectable. China and India are prominent as the fastest growing market for diabetes drugs market because of the growing diabetic population and the growing aging population in these regions. Moreover, rising funds for diabetes curb is also boosting the increase of the diabetes tablets market in India. Brazil is expected to show lower boom rate because of patent expiry of diverse diabetes drugs.
The players profiled in the report include Bayer Pharmaceuticals, Merck, Johnson & Johnson, Sanofi, Novo Nordisk, Novartis, Takeda Pharmaceutical, AstraZeneca, Eli Lilly & Company, Boehringer Ingelheim. The companies are involved in mergers and acquisitions and new product development for expanding their market share and also for gaining competitive advantages over its competitors.
Market By Drugs Type
Market By Diabetes Type
Market By Route of Administration
Market By Distribution Channel
Market By Geography
Middle East & Africa
Diabetes drugs are used to treat diabetes mellitus type 1 and type 2 by reducing the blood glucose level of the body.
Type 2 diabetes segment is dominating the global diabetes drugs market.
North America held maximum share in 2018 for diabetes drugs market.
U.S., Canada are included in North America for the diabetes drugs market?
Asia Pacific is projected to grow at a fast pace during forecast period in the diabetes drugs market.
The global diabetes drugs market is segmented into drugs, diabetes, route of administration, distribution channel, and major geographic regions.
Bayer Pharmaceuticals, Merck, Johnson & Johnson, Sanofi, Novo Nordisk, Novartis, Takeda Pharmaceutical and AstraZeneca are the top players operating in the diabetes drugs market.