Wilmington, Delaware, United States, Transparency Market Research Inc.: Sedentary lifestyle, overweight, and age are some of the major factors contributing to growing prevalence of diabetes cases across the globe.
Wilmington, Delaware, United States, Transparency Market Research Inc.: Sedentary lifestyle, overweight, and age are some of the major factors contributing to growing prevalence of diabetes cases across the globe. As per a report published by the World Health Organization (WHO), in 2014, approximately 1.9 billion people were identified as overweight wherein 600 million were categorized as obese.
Obesity and overweight are major risk factors resulting in diabetes. Increasing incidence of diabetes is explicitly fuelling demand for diabetes drugs.
Registering the demand rate, the global diabetes drugs market is anticipate to witness robust growth rate in forthcoming years.
Growing geriatric population across the world is one of the major factor fuelling demand for diabetes drugs. Elderly population is highly susceptible to certain health conditions such as blood pressure and diabetes. This, in turn, is contributing to growth of the diabetes drugs market.
Diabetes is chronic condition, where body stops production of insulin, or inhibit its absorption. As a result, blood glucose level fluctuates significantly. To regulate blood glucose level, diabetic people are supposed to be on regular diabetes medication.
As per a report published by Transparency Market Research (TMR), the diabetes drugs market is estimated to chart at a moderate CAGR of 3.6% between 2017 and 2025. At given rate, the market valuation is calculated to reach at US$58.4 bn by the end of 2025, whereas the market stood at a value of US$43.1 bn in 2016.
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Distribution Channel Enhance Visibility of Diabetes Drugs
The global diabetes drugs market is segmented on the basis of glucagon-like peptide-1 agonist, sodium glucose co-transporter 2 inhibitors, insulin, Dipeptidyl-peptidase-4 (DPP-4) inhibitors, and others. Among all, insulin holds the prominent position in the market.
Distribution channel plays a crucial role in expansion of the market and enhancing visibility of the product. Hence, diabetes drugs market is classified into retail pharmacies, hospital pharmacies, and online pharmacies. Hospital pharmacies is likely to hold prominent share in the market due to presence of trained medical staffs to sell the medicines. Due to rising popularity of e-tail and proliferation of e-commerce, online pharmacies seems to be a promising segment for growth of the diabetes drugs market.
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Type 2 Diabetes Holds Prominent Position
Diabetes is categorized into type 1 diabetes, type 2 diabetes, impaired fasting glycaemia, impaired glucose tolerance, and gestational diabetes. Among all types of diabetes, type 2 segment contribute significantly to the diabetes drugs market, due its higher prevalence across the globe. Rising cases of obesity, rising disposable income, and improving healthcare facilities are some of the key factors propelling growth of diabetes type 2 segment. Type 1 diabetes is anticipated to follow type 2 segment. Meanwhile, impaired glucose tolerance, gestational diabetes, and impaired fasting segments are estimated to rise at a moderate pace during the forecast period.
Region wise, North America market holds prominent share in the year 2016 and is likely to hold its position due to high prevalence of diabetes in the region.
Meanwhile, Europe market holds second largest share in the year 2016 due to research and development activities for drug improvisation.
Some of the top companies operating in the global diabetes drugs market are Novo Nordisk A/S, Boehringer Ingelheim GmbH, Novartis AG, Bayer AG, Merck & Co., and Sanofi. Some other prominent companies operating in this market are Takeda Pharmaceutical Company Limited, Johnson & Johnson, Boehringer Ingelheim GmbH, and Eli Lily and Company.
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Type-2 Diabetes Key Focus of Players in Diabetes Drugs Market
There is a growing body of research behind antidiabetic medications as to who actually need and what type is the most effective and safe for the patient cohort. A key driver for the diabetes drugs market is the high risks the disease brings to the patient, particularly in patients with type-2 diabetes. Extensive research has been made by drugmakers to develop formulations that can help lower the cardiovascular risks in patient populations, thereby expanding the growth potential in the diabetes drugs market. Some of the popular antidiabetic drugs are metformin, sulfonylureas, dipeptidyl peptidase-4 inhibitors, glitazones, SGLT2 inhibitors, and glinides.
However, not every patient with type-2 diabetes may need medication. The decision to continue with certain medications should be based on sound clinical decision, wherein physicians’ recommendations occupy critical position. Over the past few years, incretin mimetics has also gained some attention among industry players operating in the diabetes drugs market. However, the verdict is still out of its long-term advantages. The worldwide prevalence of diabetes will continue to propel drugmakers to enrich their drug pipeline to meet the unmet need in patient populations. They are relentlessly aiming at reducing the side effects and increase the safety profiles. The recent approval of pharmacological agents is a key developmental trend that will spur growth in the market.
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The current Covid-19 pandemic has reiterated the criticality of managing chronic diseases and their role in public health. Diabetics are one of the cohorts that have at the forefront of high risk factors for being infected badly with the virus. Thus, the population healthcare systems are emphasizing on consolidating the infrastructure to improve care for chronic diseases, including diabetes and cardiovascular diseases. This also has changed the current course of development for drug makers to an extent, encouraging research and development investments in the diabetes drugs market. Also, the growing awareness among the general populace will help in patients make more clinically-informed decisions on the pharmacological therapies they need.
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