Global Non-Insulin Therapies for Diabetes Market to Amplify at A CAGR of 4% Over 2022-2030

Global non-insulin therapies for diabetes market to amplify at a CAGR of 4% over 2022-2030, rising prevalence of diabetes to augment industry outlook

According to the report published by Credible Markets, global non-insulin therapies for diabetes market is currently valued at USD 200 billion and is anticipated to register a CAGR of 4% during 2022-2030.

Non-insulin Therapies for Diabetes Market- Overview
Non-insulin diabetes therapies comprise of oral and injectable drugs aimed at treating Type 2 diabetes. It is mostly administered when the patient's body is unable to produce enough insulin or is incapable of using the insulin it produces. Non-insulin based drugs follow a different action mechanism to reduce blood glucose level, ensuring optimum glycemic control.

Non-insulin Therapies for Diabetes Market- Growth Determinants and Challenges
The major expansion propellants of this marketplace are increasing prevalence of diabetes worldwide and rising efforts of prominent industry players to develop medicines with lower side effects. Alongside, surging healthcare investments across various regions and technological breakthroughs in the medical research & development domain are positively swaying the market dynamics.
Furthermore, the outbreak of the COVID-19 pandemic added traction to the growth of non-insulin therapies for diabetes market. The coronavirus was found to severely affect people having co-morbidities such as diabetes or heart ailments. This in turn increased the demand for non-insulin medications among the diabetic populace to maintain their blood sugar level.
On the contrary, side effects associated with these medicines and lack of awareness about the availability of non-insulin drugs for diabetes are impeding market progression.

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Segmental Analysis of Non-Insulin Therapies for Diabetes Market
By drug class
• Biguanides
• Thiazolidinedione's
• Sulfonylureas
• GLP-1 Analogs
• Alpha-Glucosidase Inhibitors
• DPP-4 Inhibitors
• Sodium-glucose cotransporter- 2 (SGLT2) inhibitors
The sodium-glucose cotransporter-2 (SGLT2) inhibitors segment is expected to register notable gains over the estimated timeline owing to the minimum side effects associated with this drug.

By route of administration
• Oral
• Intramuscular
The oral segment is poised to amplify significantly over the forecast timeline ascribing to the escalating demand for non-invasive treatment procedures.

By distribution channel
• Retail Pharmacy
• Hospital Pharmacy
• Online Pharmacy
• Others
The hospital pharmacy segment is projected to garner considerable revenue over the analysis timeline due to huge sales of non-insulin medications recorded from hospital pharmacies.

North America to Showcase Lucrative Expansion Trends
North America, Asia Pacific, Latin America, Middle East & Africa, and Europe are the primary regions considered to understand the geographical trends of worldwide non-insulin therapies for diabetes market. North America is poised to expand at a substantial rate attributing to growing prevalence of diabetes in the region mainly driven by unhealthy lifestyle of the masses. Alongside, ongoing clinical trials and improved healthcare infrastructure is further contributing to the regional market development.

Competitive Hierarchy
The major players operating in this industry sphere are Bristol-Myers Squibb, Boehringer Ingelheim GmbH, Novo Nordisk A/S, GlaxoSmithKline plc, Eli Lilly and Company, F. Hoffmann-La Roche AG, Novartis AG, Pfizer, Inc., Novartis International AG, Sanofi AG, The Takeda Pharmaceutical Company Limited, AstraZeneca plc, and Merck & Co., Inc.

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Major Developments
• In December 2017, FDA officially approved Ertugliflozin, a sodium-glucose cotransporter 2 inhibitor jointly developed by Pfizer, Inc. and Merck & Co., Inc.

Key Questions Answered in this Report
• What is the growth rate projection for non-insulin therapies for diabetes market?
• What are the major factors aiding the progression of non-insulin therapies for diabetes market?
• Which segment is expected to dominate the non-insulin therapies for diabetes market?
• Which is the fastest growing region in non-insulin therapies for diabetes market?

Key Takeaways from The Report
• Global non-insulin therapies for diabetes market is projected to register a CAGR of 4% over 2022-2030
• Rising prevalence of diabetes worldwide and rising efforts to develop drugs having lower side effects is boosting the expansion of non-insulin therapies for diabetes market
• The oral route of administration segment is projected to register notable gains attributing to the escalating demand for non-invasive treatment procedures across the globe
• North America market is anticipated to showcase lucrative progression trends ascribing to increasing number of diabetic patients and rapid development in healthcare infrastructure

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This release was published on openPR.