Antidiabetics Market Estimated To Reach USD 134.23 Billion By 2026 | Top Key Players Eli Lilly, Novartis, Bayer Corporation, Johnson & Johnson

The Antidiabetics Market is estimated to reach USD 134.23 Billion by 2026, according to a new report by Reports and Data. This can be mainly associated with the rising predominance of diabetes due to unhealthy dietary habits including tobacco smoking, alcohol consumption, coupled with physical inactivity, will act as a high impact rendering factor for industry growth. Expanding efforts initiated by significant companies for the development of advanced products will boost market growth. The anti-diabetics market comprises drugs, which are used for diabetes mellitus treatment and are also known as oral antihyperglycemic/hypoglycemic agents.

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Companies considered and profiled in this market study

Eli Lilly, Novartis, Bayer Corporation, Johnson & Johnson, Pfizer, AstraZeneca, Bristol-Myers Squibb, Oramed Pharmaceuticals, Novo Nordisk, Merck, Boehringer Ingelheim, Takeda Pharmaceutical and Sanofi.

The market has grown remarkably in recent years with the rising predominance of diabetes mellitus. Thus, due to the increasing population size with diabetes affecting middle age groups and children across all age groups globally, systemic therapies for diabetes have enhanced the market growth further.

Due to the presence of key players, favorable reimbursement policies, and rising number of chronic diseases along with several initiatives initiated by the government, North America accounts for the largest share of 33.5% of the market in 2018. Rising aged population, adopting unhealthy habits, increasing obesity, and lack of physical movement are expected to be the vital factors for enhancing diabetes among people over the next couple of years.

For the purpose of this study, Reports and Data have segmented the global Antidiabetics Market on the basis of Patient Type, Application, Product, Administration mode and region:

By Patient Type Outlook (Revenue, USD Million; 2016-2026)
1. Adult
2. Pediatric
3. Geriatric

By Application Outlook (Revenue, USD Million; 2016-2026)
1. Type II Diabetes
2. Type I Diabetes

Product Outlook (Revenue, USD Million; 2016-2026)
1. Insulin
2. Drug class

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Administration mode Outlook (Revenue, USD Million; 2016-2026)
1. Insulin Syringe/Insulin Pen
2. Insulin Pump
3. Intravenous Infusion
4. Oral

Regional Outlook (Revenue, USD Million; 2016-2026)
1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. MEA

Further key findings from the report suggest

1. Increase in the prevalence of rising population and unhealthy lifestyle across the globe has led to the accelerated growth of the global market.

2. Growing rates of diabetics and rising healthcare expenditure are the fundamental factors which are spurring the growth of the market across the globe.

3. Several campaigns for awareness and education programs created by associations and diabetes societies to raise awareness levels and provide information about diabetes control will stimulate the growth further.

4. Growing consumption of tobacco, high blood pressure, and increased cholesterol levels are significant factors related to obesity and diabetes raising the interest for insulin and other antidiabetic products with time.

5. Growing population and rising healthcare expenditure are the fundamental factors which are boosting the growth of the market across the globe.

6. Drug class of the product type segment is anticipated to grow at the highest rate of 10.3% during the forecast period.

7. Innovative product development and collaborative developments are some critical strategic initiatives taken by the players in this industry to point their mark in the competition.

8. The presence of unique diagnostic and therapeutic medical technologies that enable quick and accurate diagnosis is the primary factor for the growth of this segment.

9. The increase in this region is due to the rising population, and the emerging healthcare network which is expected to spur the market in the future.

10. Europe accounts for a share of 26.3% in 2018 and is expected to grow at a rate of 10.2% during the forecast period.

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Key selling points of this research study

1. The study gives an in-depth evaluation of the evolving competitive scenario that gives the reader/client a competitive edge.

2. It offers a holistic view of all critical aspects boosting or limiting the growth of the sector

3. The market intelligence report derives an eight-year forecast, including historical, contemporary, and potential market prospects, projecting the estimated progress of the market.

4. It aids informed decision-making by offering an exhaustive database of the pivotal market segments and sub-segments.

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This release was published on openPR.