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Diabetes Therapeutics Market Smart Strategies of the Research and Development Process
Diabetes Therapeutics Market-AMR
Global Diabetes Therapeutics Market was valued at $66,993 million in 2016, and is estimated to reach $186,842 million by 2023, growing at a CAGR of 16.0% from 2017 to 2023. Diabetes therapeutics are drugs used by diabetics to maintain the blood glucose levels to restore the blood glucose metabolism to a normal state. Diabetes therapeutics are drugs used by diabetic patients to conserve the blood glucose levels in the body.
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The major factor that contributes to the market growth are increase in incidence rate of diabetes caused by rapid urbanization and sedentary lifestyle. Moreover, development of affordable & effective diabetes therapeutics, rise in obese population, consumption of fast food, growth in awareness among people about self-management of diabetes, and support from the government further boost the market growth. However, side effects of diabetic drugs on patients and stringent approval process for these drugs hinder this growth. Moreover, rise in awareness about diabetes care and untapped market opportunities in developing regions are expected to provide numerous opportunities for market growth.
The injectables segment is expected to maintain its dominant position during the analysis period, owing to rise in the prevalence of diabetes, increase in geriatric population, high demand of self-care, and increased awareness about use of insulin (one of the injectables) as an anti-diabetic drug.
Moreover, injectable can be used for both type-I and type-II diabetes, whereas OAD are used majorly for type-II diabetes. In addition, there is increased awareness about use of insulin (one of the injectable) as an anti-diabetic drug. Therefore, adoption of insulin is high in most of the regions of the world, which is expected to stimulate the growth of this segment.
Key Findings of the Diabetes Therapeutics Market
The injectables segment accounted for nearly two-thirds share of the global market in 2016.
GLP-1 receptor agonists segment expected to grow at a rapid CAGR of 33.1% from 2017 to 2023.
Insulin segment accounted for more than half of the global market in 2016.
Asia-Pacific is expected to grow at the highest CAGR of 16.8% from 2017 to 2023.
North America accounted for more than one-third share of the global market in 2016, and is expected to remain dominant throughout the forecast period. This is attributed to the increase in incidence of diabetes, growth in geriatric population, and adoption of sedentary lifestyle of people that leads to diabetes. In addition, presence of highly sophisticated healthcare infrastructure is expected to present new growth opportunities to the players in this market.
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The major companies profiled in the report include AstraZeneca plc, Boehringer Ingelheim GmbH, Eli Lilly and Company, GlaxoSmithKline plc, Johnson & Johnson, Merck & Co., Inc., Novartis AG, Novo Nordisk, Sanofi S.A., and Takeda Pharmaceutical Company Limited.
Key players in the value chain include Astellas Pharma Inc., Biocon Limited, Diasome Pharmaceuticals, Inc., Generex Biotechnology Corp., MannKind Corporation, and Pfizer Inc.
By Product
Injectables
Insulin
Glucagon-like Peptide-1 (GLP-1) Receptor Agonists/Incretin Mimetics
Amylin Analogue/Amylinomimetic Drugs
Oral-antidiabetic Drugs (OAD)
Biguanides
Sulfonylureas
Thiazolidinediones
Alpha-glucosidase Inhibitors
Dipeptidyl Peptidase IV (DPP-4) Inhibitors/Gliptins
Meglitinides
Sodium-glucose Cotransporter-2 (SGLT2) Inhibitors/Gliflozins
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