Market Overview:
Diabetes is spreading at an alarming
rate, and it is estimated that the
prevalence of diabetes will double in the coming years. As per the research
estimates ofthe International Diabetes
Federation in 2016, almost 420 million adult population were suffering from
diabetes,and the number is lily to go up
at a rate of 8.4% by 2040. A number of
drugs are available in the market for the treatment of diabetes although no
treatment can cure it totally. The global
diabetes market is majorly boosted by
burgeoning diabeticpopulation. As per the analysis of Market Research Future
(MRFR), the global diabetes drugs market is expected to expand at a CAGR of
6.38% over the forecast period of 2017-2023.
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Various industry players are investing heavily in R&D to come up with a complete cure for the
condition. The prevalence of diabetes can be
attributed to lifestyle, smoking, obesity, stress and unhealthy dietary
habits which have resulted in a steep
surge in the number of affected people.
Genetic predisposition is also a vital factor that can lead totheoccurrence of the diseases in spite of countermeasures.
Rise in the geriatric population, changes
in food pattern and a substantialincrease in smoking population have resulted
in a high incidence rate of diabetes which generate high demand for diabetes
drugs.
Combination therapy is the standard line of treatment
for diabetes where a number of oral drugs
are prescribed to control the disease. In
case where oral drugs are adequately
effective, injectable insulin therapy is adopted.
Diabetes drugs are associated with
various side effects which include weight gain, anemia,
fluid retention, respiratory infection,and
others. There is a huge unmet need for new
drugs with novel mechanisms of action to provide more effective treatment and
less-severe side effect profile. New drugs are increasinglybeing added to the portfolio of various
industry players which is being supported by a rise
in the number of FDA approvals. A
high number of clinical trials are going to develop a potent drug which could
act as a cure for the diseases,and a significant
number of oral drugs are currently in the late stage of development which could
take the global Diabetes Drugs Market ahead in the coming years. Other factorssupporting the growth of the market
includeraising awareness regarding the disease, government programs for
raising awareness among patients, and high investment in R&D activities.
On the other hand, the market growth might be deterred by high costs of diabetes drugs
which are not affordable by lower income group, long
approval process for drugs and stringent regulations.
Competitive
Landscape:
Peptron (South
Korea),Biocon (US),Amgen (US),Abbott (US),Akros Pharma (US),Daiichi Sankyo
(Japan),Novartis (Switzerland),Takeda (Japan),Eli Lilly (US),Merck & Co.
(US),Adocia (France),Boehringer Ingelheim (Germany),AstraZeneca (UK),Sunpharma
(India),Pfizer (US),Novo Nordisk (Denmark), and Sanofi (France) are the key
players in the global diabetes drug market.
Segmentation:
·
The global
diabetes drug market has been segmented
based on type, route of administration, drug class, and end user.
·
By type, the
global diabetes drug market has been segmented
into type-1 diabetes and type-2 diabetes.
·
By route of
administration, the global diabetes drug market has been segmented into oral, intravenous and other.
·
By drug class,
the global diabetes drug market has beensegmented
into insulin, sensitizers, alpha-glucosidase inhibitors, SGLT-2 inhibitors,
secretagogues, peptide analogs,and
others. The secretagogues segment has been
further segmented into sulfonylureas and non-sulfonylureas.
·
By end user, the
global diabetes drug market has been segmented
into hospital & clinics, ambulatory clinics and other.
Regional
Analysis:
By region, the global diabetes drug market has been segmented into the Americas, Europe, Asia
Pacific (APAC), and the Middle East&
Africa (MEA).
A substantial pool of diabetic
patients, a high number of obese people,
changing lifestyle, and high healthcare
expenditure is motivating the growth of the market. Moreover, surging
awareness among people regarding diabetes management and the availability of superior drugs fuel the market
growth.
Europe is the second largest market for diabetes drug. High
smoking population, availability of funds for research and development along with
government support are factors driving the market growth in Europe.
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APAC is the fastest growing market for diabetes drugs. The increasing base of the diabetic population, increasing healthcare
expenditure and elevation in the level of awareness are factors fostering
market growth.
The MEA market accounts for the smallest share of the global
market. Poor economic conditions, especially in the Africa region has
restrained thegrowth of the market. The market growth in the Middle East is spurred by developed healthcare sector and
high healthcare expenditure.
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