The global diabetes therapeutics market was valued at $1,258.9 billion in 2020, and is projected to reach US$ 3,390 billion by 2030, growing at a CAGR of 10.4% from 2021 to 2030.
The global diabetes therapeutics market was valued at $1,258.9 billion in 2020, and is projected to reach US$ 3,390 billion by 2030, growing at a CAGR of 10.4% from 2021 to 2030.
Diabetes is a chronic, metabolic disease characterized by elevated levels of blood glucose that cause serious damage to the heart, blood vessels, eyes, kidneys, and nerves. Diabetes therapeutics are medications used for the treatment of diabetes. They include human insulin analogues and oral-antidiabetic drugs (OAD).
Request Sample of This Report @ https://qyresearchmedical.com/sample/112599
The global diabetes therapeutics market size is majorly driven by increase in prevalence of diabetes, increase in sedentary lifestyle, and rise in prevalence of other chronic diseases such as hypertension. For instance, according to the International Diabetes Federation (IDF), it was reported that approximately 537 million adults (20-79 years) are living with diabetes, and the number of diabetic patients is projected to rise to 643 million by 2030 and 783 million by 2045. As a result, increase in prevalence of diabetes in population contributes to the diabetes therapeutics market growth. Furthermore, diabetes can be inherited and is linked to patients’ family history and genetics. It is not necessarily inherited by everyone, but people with family history are likely to develop diabetes. In addition, growth in awareness among population about self-management of diabetes contributes in the market growth. Moreover, development of affordable and effective diabetes therapeutics such as oral hypoglycemic agents and government initiatives to provide diabetes care facilities drive the growth of market.
For instance, Centers for Disease Control and Prevention (CDC) in the U.S. announced the launch of National Diabetes Prevention Program (National DPP), along with the partnership of public and private organizations. The program aims to prevent or delay type 2 diabetes. Furthermore, increase in number of diabetes centers globally contributes to the market growth. Diabetes centers provide diabetes care facilities to the patients. Furthermore, increase in geriatric population drives the growth of market. Older people are more prone to diabetes. For instance, according to Center for Aging Better, in 2021, there are almost 12 million people aged 65 and over in the UK, with 3.2 million aged 80 and over. Thus, presence of diabetes centers and increase in number of geriatric patients drive the growth of market. In addition, increase in diabetes causing factors such as family history, environmental factors, diet, obesity, and geography surge the growth of the market. Obesity is one of the major risk factors for developing diabetes. According to the World Population Review report, the U.S. has 36.20% obese adult population in 2022. Moreover, environmental factors such as polluted air, soil, water, vitamin-D deficiency, exposure to enteroviruses, and damage to immune cells are responsible for diabetes.
Quick Buy This Premium Report From Here: https://qyresearchmedical.com/report/checkout/112599/
In addition, excessive sugar diet leads to incidence of diabetes. Moreover, advancements in diabetes diagnosis devices such as portable glucometer are driving the growth of diabetes diagnostics market. A glucometer is a small, portable machine that is used to measure blood glucose level and mainly used by diabetes patients. For instance, in February 2022, Ascensia Diabetes Care, a global diabetes care company, received U.S. Food and Drug administration (FDA) approval for its implantable, next-generation Eversense E3 continuous glucose monitoring (CGM) system. These standard and continuous glucose monitoring (CGM) devices assist the diagnosis and therapy of diabetes. Hence, availability of such advanced glucose monitoring devices contributes in growth of market. Furthermore, increase in R&D activities for the development of novel diabetes treatments and new product approvals in market contributes in growth of diabetes market share by company. For instance, in July 2021, the U.S. Food and Drug Administration (FDA) approved Semglee (insulin glargine-yfgn) which is biosimilar to a reference product Lantus (insulin glargine), a long-acting insulin analog. Semglee is the first interchangeable biosimilar insulin product indicated to improve glycemic control in adults and pediatric patients with type 1 diabetes mellitus and in adults with type 2 diabetes mellitus. However, side effects associated with long-term use of anti-diabetes drugs impede the growth of this market.
Diabetes Therapeutics Market Segmentation
The diabetes therapeutics market is segmented on the basis of product and region. By product, the market is categorized into injectables and oral-antidiabetic drugs (OAD). The injectables therapy is further fragmented into insulin, glucagon-like peptide-1 (glp-1) receptor agonists/incretin, and amylinomimetic drugs. On the basis of oral-antidiabetic drugs (OAD), it is further segregated into prescription biguanides, sulfonylureas, thiazolidinediones, alpha-glucosidase inhibitors, dipeptidyl peptidase iv (dpp-4) inhibitors/gliptins, meglitinides, and sodium-glucose cotransporter-2 (sglt2) inhibitors/gliflozins.
By region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Arabia, South Africa, and LAMEA).
The top 10 diabetes drugs key players operating in the global diabetes therapeutics market include Astrazeneca Plc., BoehringerIngelheim GmbH, Eli Lilly and Company, Glaxosmithkline Plc., Johnson & Johnson, Merck & Co., Inc., Novartis Ag, Novo Nordisk, Sanofi S.A., and Takeda Pharmaceutical Company Limited.
Segment Review
Depending on therapy type, the injectables segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to rise in prevalence of diabetes. However, the oral-antidiabetic drugs (OAD) segment is expected to witness considerable growth during the forecast period due to high prevalence of type-2 diabetes and affordability of oral-antidiabetic drugs (OAD) medication.
Depending on the region, North America garnered the major diabetes therapeutics market share in 2020, and is expected to dominate the diabetes therapeutics market forecast period, owing to rise in prevalence of diabetes, sedentary lifestyle, and well-established healthcare infrastructure such as presence of diabetes care centers in the region. However, due to increase in number of geriatric population, increase in prevalence of diabetes, and large population base, Asia-Pacific is expected to register the highest CAGR of 11.2% from 2021 to 2030.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the diabetes therapeutics market analysis from 2020 to 2030 to identify the prevailing diabetes therapeutics market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the diabetes therapeutics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global diabetes therapeutics market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
- By Product
- Injectables
- Oral antidiabetic Drugs
- By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest Of Asia Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
- North America
Key Market Players
- ASTRAZENECA PLC
- BOEHRINGER INGELHEIM GMBH
- ELI LILLY AND COMPANY
- GLAXOSMITHKLINE PLC
- NOVARTIS AG
- NOVO NORDISK
- SANOFI S.A.
- TAKEDA PHARMACEUTICAL COMPANY LIMITED
- johnson and johnsonmd&d
- MERCK and CO., INC.
Quick Buy This Premium Report From Here: https://qyresearchmedical.com/report/checkout/112599/
You can place an order or ask any questions, please feel free to contact sales@qyresearchmedical.com | +1 9197 992 333
About Us
QYResearch Medical, focuses on custom research, management consulting, IPO consulting, industry chain research, and data base & seminar services. The company owns large basic databases (such as National Bureau of Statistics Database, Customs Import and Export Database, Industry Association Database, etc.), expert resources (including industry experts who own more than 10 years experiences on marketing or R&D in industries of healthcare services, medical technology & devices, etc.), professional survey team (the team members obtained more than 3 years market survey experience and more than 2 years deep expert interview experience), and excellent data analysis team (SPSS statistics and PPT graphics process team).
QYResearch Medical has more than 4000 global well-known customers, covering more than 30 industries including pharmaceuticals, medical technology & devices, healthcare services etc. Company services cover one-stop solution as Data-Analysis-Suggestion-Consulting Implementation. Research regions cover China, US, EU, Asia, Middle East and Africa, South America, Australia, and other regions in the world.
For Latest Update Follow Us:
https://www.linkedin.com/company/qyresearch-medical/
https://www.facebook.com/QYResearch-Medical-108186514228917/