Press release
Diabetes Therapeutics Market increase in R&D activities in the diabetes drugs sector provide numerous opportunities for market development
Diabetes Drug Market
Diabetes medication is a drug used by diabetics to preserve blood sugar levels in the body.
A major contributor to market growth is an increase in the incidence of diabetes due to rapid urbanization and sedentary lifestyles. It also drives market growth by developing affordable and effective diabetes treatments, increasing obesity, increasing fast food consumption, increasing people's awareness of diabetes care and government support. However, the adverse effects of diabetes medications on patients and the strict approval process for these medications hinder this growth. Furthermore, in developing countries, increased awareness of diabetes care and market opportunities are expected to lead to market growth opportunities.
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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.
• Takeda Pharmaceutical Company Limited.
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.
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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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