The global hyperglycemia treatment market is on the brink of significant expansion, as per the latest findings unveiled by Future Market Insights. Projections indicate a robust trajectory, with market demand expected to soar to USD 500.49 Million by 2023. Anticipated to maintain this impressive momentum, the market is forecasted to witness a staggering Compound Annual Growth Rate (CAGR) of 12.3% between 2023 and 2033, ultimately reaching an impressive USD 1,596 Million by 2033.
This surge in demand is primarily attributed to the escalating prevalence of hyperglycemia, particularly among the younger demographic. Heightened stress levels and unhealthy eating habits are identified as significant contributing factors to this concerning trend, underscoring the urgent need for effective treatment solutions.
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“The burgeoning prevalence of hyperglycemia underscores the critical importance of advancing treatment options,” stated a spokesperson from Future Market Insights. “Our projections indicate a substantial market growth trajectory, emphasizing the pressing need for innovative solutions to address this global health challenge.”
The forecasted growth of the hyperglycemia treatment market presents a compelling opportunity for stakeholders across the healthcare spectrum. From pharmaceutical companies to research institutions, the demand for innovative therapies and interventions is expected to drive investment and collaboration within the sector.
Future Market Insights remains committed to providing comprehensive insights and analysis, enabling stakeholders to navigate the evolving landscape of the hyperglycemia treatment market effectively.
Key Takeaways from the Market Study:
- The global market size for hyperglycemia treatment is estimated to reach USD USD 1,596 Million by 2033.
- According to the forecast, the insulin therapy segment is expected to grow by 6% CAGR between 2023 and 2033.
- The oral route of administration hyperglycemia treatment market accounted for 45% of the total market value by the end of 2023.
- Hyperglycemia treatment in North America expanded with a market share of 53% in 2022.
- The retail pharmacy market is expected to account for 72% of the total market value over the next five years.
“As diabetes becomes more prevalent, oral drugs and insulin devices are being approved, where artificial intelligence and technology will be key to expanding drug delivery methods.” Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape:
Considering the fact that many companies are expected to be focusing their efforts on the development of innovative diagnostic techniques in the near future, markets may notice many companies expand their product lines, acquire other companies, and merge their companies together in the near future.
- Tetris Pharma, a biopharmaceutical company, launched ‘Ogluo’, or glucagon-prefilled autoinjector pens, as a treatment for severe hypoglycemia in children and adults with diabetes. In addition to the UK and Germany launches, Arecor and Tetris plan to market Ogluo in “core” European markets as part of their pan-European commercialization program.
- With its USD 4 million seed funding from SecretLab LLC founder Jason Bright, BioCoach will scale its platform that provides meal recommendations and grocery lists to people with prediabetes. A smart glucose meter and ketone meter are available for BioCoach, which work in conjunction with the biocoach app. Using the BioCoach app, a team of expert coaches gives individualized recommendations on how to adjust one’s diet based on the information that has been collected from readings.
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Key Companies Profiled:
- Novo Nordisk A/S
- Merck & Company Inc.
- Medtronic
- Johnson & Johnson Services Inc.
- Teva Pharmaceuticals Ltd.
- Eli Lilly and Company
- Sanofi S.A.
- Bayer AG
- Bristol-Myers Squibb
- Abbott
Key Segments Profiled in the Hyperglycemia Treatment Industry Survey:
By Treatment Type:
- Fluid Replacement
- Electrolyte Replacement
- Insulin Therapy
- Other Treatments
By Mode of Administration:
- Oral
- Topical
By End User:
- Hospitals & Clinics
- Retail Pharmacy
- Others
By Region:
- North America
- Latin America
- Europe Market
- South Asia
- East Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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Website: https://www.futuremarketinsights.com
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