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Antidiabetic Biosimilars Market Insights, Trends Forecast 2022-28

12-02-2022 07:37 AM CET | Health & Medicine

Press release from: Precision Business Insights

Antidiabetic Biosimilars Market Insights, Trends Forecast

The global antidiabetic biosimilars market size is expected to reach huge growth during the forecast period 2022 to 2028. In diabetic individuals, anti-diabetics assist manage blood glucose levels. Biguanides, thiazolidinediones, DPP-IV inhibitors, -glucosidase inhibitors, sulfonylureas, insulin, and GLP-1 receptor agonists like exenatide are a few examples of antidiabetics. An FDA-approved biological making is an integral part as a reference product serves as the basis for the approval of a biosimilar product, which is a biological product. Manufacturers of biosimilars must produce data from laboratory and clinical testing to show that the biosimilar they have developed offers patients the same therapeutic benefit as the reference medicine.

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The Antidiabetic Biosimilars Market Growth Factors:
The growing population of people with diabetes mellitus is what is driving the global market for antidiabetic biosimilars. The World Health Organization (WHO) estimates that 422 million people worldwide have diabetes as of 2014. In persons older than 18 years, the incidence of diabetes increased globally, rising from 4.7% in 1980 to 8.7% in 2014. The market for antidiabetic biosimilars is expanding as a result of the rising prevalence of lifestyle conditions including obesity, which raises the chance of developing diabetes. Additionally, it is anticipated that the market for antidiabetic biosimilars would rise as a result of the patent expirations of insulin as part and insulin lispro. Insulin that is biosimilar to the original drug has the potential to lower the cost of treating diabetes, make insulin more widely available, and increase the variety of insulin brands.

The Antidiabetic Biosimilars Market Segmentation:
The global antidiabetic biosimilars market on the basis of Drug Class, the market is categorized into Insulin, Biguanides, Sulfonyl Ureas, Thiazolidinediones, Di Peptidyl Peptidase (DPP)-IV Inhibitors, α-glucosidase Inhibitors, GLP-1 Agonists, SGLT-2 Inhibitors, Others. On the basis of Disease Type, the market is classified into Type-I Diabetes, Type-II Diabetes. On the basis of the Distribution Channel, the market is divided into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies.

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The Antidiabetic Biosimilars Market Regional Analysis:
North America had the largest share of the market as of 2021, followed by Asia-Pacific. The rise in obesity among people brought on by unhealthful meals and sedentary lifestyles is the main reason for the rise in diabetes patients. The market in Asia-Pacific is primarily driven by China as well as India's rising need for diabetes medications. Over 127 million people in China currently have diabetes, whereas 85 million people are anticipated to have the disease in India by 2027.

The major key players in the antidiabetic biosimilars market report are Biocon (India), Merck Sharp & Dohme Corporation (U.S.), Boehringer Ingelheim GmbH (Germany), Eli Lilly & Co. (U.S.), Sanofi-aventis U.S. LLC (U.S.), Samsung Bioepis (Samsung BioLogics) (South Korea), Mylan N.V. (U.S.), Wockhardt (India)

Mr. Satya
Precision Business Insights | Toll-Free: +1 866 598 1553
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About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers a variety of cost-effective and customized research services to meet particular research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.

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