Business overview and Growth Analysis on Antidiabetics market| Top Players: AstraZeneca, Boehringer Ingelheim, Bristol-Myers Squibb, Eli Lilly and Company

Global Antidiabetics Market is set to exceed USD 110 billion by 2024; according to a new research report by Global Market Insights.

Growing pervasiveness of diabetes worldwide will spur global antidiabetics market growth over the forecast timeframe. According to World Health Organization, in 2014, 422 million people suffered from diabetes mellitus, estimated to become the seventh death-leading cause by 2030. Thus, rising prevalence of the disease will lead to high adoption of antidiabetic drugs to control blood sugar as well as control disease complications. Moreover, accelerating number of obese/overweight people, pursuing unhealthy lifestyle habits is significantly increasing the risk of suffering from diabetes. Growing incidence of diabetes can be attributed to increasing obese population, thereby augmenting demand for antidiabetics in coming years.

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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• AstraZeneca
• Boehringer Ingelheim
• Bristol-Myers Squibb
• Eli Lilly and Company
• Halozyme Therapeutics, Inc.
• Merck
• Novartis
• Novo Nordisk
• Oramed Pharmaceuticals Inc.
• Pfizer
• Sanofi

Insulin product segment is forecasted to progress at 12.3% CAGR over the projected period. With expanding patient population majorly suffering from type 2 diabetes, the need to administer insulin therapy will grow in the forthcoming years. Insulin is also used in combination with several oral drugs for better control of blood glucose. In addition, insulin also needs to be externally injected to patients with type 1 diabetes, that should impel segmental growth in coming period. Among several types of insulin, rapid acting analog insulin will show fastest growth over the forecast period.

Drug class product segment held 45.7% market share in 2017. DPP-IV drug class accounted for the largest revenue size in 2017 and will witness similar trend over the coming years. DPP-IV when combined with other antidiabetic agents are known to show positive effect on glucose control. These drugs show neutral effect on weight that further favours segmental growth. Development of new antidiabetic drugs including DPP-IV will boost segment growth in upcoming years.

Insulin pumps market will record highest CAGR of 11.3% during the projection timeframe. Insulin pump usage is recommended in patients having high resistance to insulin and weak glycaemic control. Insulin pumps prevent administration of multiple injections along with delivering high efficacy should escalate the customer preference. Availability of reimbursement in some countries will further accelerate demand for insulin pumps in the coming years.

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U.S. antidiabetics market held largest market share of 87.5% of North America antidiabetics market in 2017. High growth is attributable to elevating cases of diabetes along with robustly rising obese population. Majority of the adult population affected by diabetes mellitus are overweight or obese. Many firms across the U.S. are emphasizing on innovative diabetes medications. Also, growing awareness among the American population regarding diagnosis and treatment of target disease will boost demand for antidiabetics in future.

Antidiabetics Market, by Product
o Insulin
o Rapid acting analog
o Long acting analog
o Premixed insulin
o Short acting analog
o Intermediate acting insulin

o Drug class
o Alpha glucosidase inhibitors
o Biguanides
o Sulphonylureas
o GLP-1 (Glucagon like peptide) agonists
o DPP-IV (Dipeptidyl Peptidase) inhibitors
o Meglitinides
o SGLT-II (Sodium Glucose Transport Proteins) inhibitors
o Thiazolidinedione

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This release was published on openPR.