Antidiabetic Biosimilars Market Insights, Trends Forecast 2022-28
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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)
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