Press release
Incretin-Based Drugs Market Size & Share to See Modest Growth Through 2024
When the blood glucose levels decrease a group of metabolic hormones is stimulated which is known as incretins. Incretin-based drugs include glucagon-like peptide-1 receptor agonists and dipeptidyl peptidase-4 (DPP-4) inhibitors which are the new group of drugs that are helpful in curing type 2 diabetes. These drugs have a positive effect on the body weight and have a low risk of hypoglycemia. The oral anti-diabetic drugs are unable to maintain the desired levels of glucose, especially during the conditions of postprandial, thus increasing the requirement for a better therapeutics such as the incretin-based drugs. The consumption of the incretin-based drugs increases the secretion of insulin and inhibits the release of glucagon.
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Global Incretin-Based Drugs Market: Segmentation
The global market for the incretin-based drugs is fragmented into its drug type, formulation, and distribution channel. Depending on the drug type, the global market is segregated into dipeptidyl peptidase-4 (DPP-4) inhibitors and glucagon-like peptide-1 receptor (GLP-1) agonists. Depending on the formulation, the market is categorized into injectable drugs and oral drugs. Depending on the distribution channel, the market is divided into online pharmacies, hospital pharmacies, retail pharmacies, and others.
Global Incretin-Based Drugs Market: Growth Factors
The key factors that are driving the incretin-based drugs market are rising old age population, increased rate of obesity, sedentary lifestyle, increasing rate of people suffering from cardiovascular diseases and diabetes, and the increasing awareness among the people. The other factor that is driving the growth of the market is the rise in the number of patients that are undiagnosed and pre-diagnosed for the disease. There are certain factors that will restrain the growth of the market which include the absence of supportive reimbursement policies, lack of accessibility to the drugs, a high cost that is involved in the treatment and the increased safety concerns affect the market growth negatively.
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Global Incretin-Based Drugs Market: Regional Analysis
According to the regional study, the global market for the incretin-based drugs is diversified into Eastern Europe, North America, Western Europe, Asia Pacific, the Middle East and Africa, and Latin America. There is an increased demand for the incretin-based drugs in the Asia Pacific region. While North America and Western European region are considered as lucrative markets for the incretin-based drugs due to the increased awareness about diabetes and the good management of the disease. The growth of the incretin-based drugs market is majorly influenced by the supportive policies that are implemented by the government. In many of the countries, the governments are providing support to the weaker sections of the society to have the access to the diabetes drugs so that they have access to quality healthcare.
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Global Incretin-Based Drugs Market: Competitive Players
The key market players that are involved in the incretin-based drugs market include Boehringer Ingelheim GmbH., GlaxoSmithKline Plc., Merck & Co., Inc., Takeda Pharmaceutical Company Ltd., Sanofi S.A., AstraZeneca Plc., Eli Lilly and Company, Johnson & Johnson, and Novartis AG.
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