During the forecast period, the global Antidiabetics Market is expected to earn US$ 223 billion while expanding at a CAGR of 9.6%. The increasing prevalence of diabetes around the world can be attributed to the market’s growth. Another factor driving the market during the forecast period is the ageing baby boomer population.
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The International Diabetes Federation predicts that the global diabetes incidence will rise from 366 million in 2011 to 552 million by 2030. A substantial increase in the number of diabetic patients is expected to benefit the industry during the forecast period.
Furthermore, the development of new products is expected to benefit the market in the near future. For example, Novo Nordisk, a Danish pharmaceutical company, announced the launch of oral semaglutide in India in January 2022 for the treatment of Type 2 diabetes. Furthermore, the development of advanced pumps based on smart technologies such as AI and ML is expected to provide a variety of opportunities.
For example, in July 2021, Ypsomed AG expanded the functionality of the mylife YpsoPump system. The Dexcom G6 Continuous Glucose Monitoring (CGM) System’s app-based deployment allows diabetics to manage their therapy via their smartphones.
On the contrary, insulin pump costs, a lack of awareness about treatment methods, and a poor reimbursement framework in developing countries are expected to stifle market growth.
Key Takeaways from the Market Study:
- The insulin segment to record a CAGR of 9.4% by 2032
- The oral segment to witness a CAGR of 9.5% during the forecast period
- Market in the U.S to value US$ 79.6 Billion by 2032
- The U.K market to hold a value of US$ 9.2 Billion
- Japan to exhibit a CAGR of 7.9% during the forecast period
- China to secure a market value of US$ 16 Billion by 2032
“Globally increasing diabetic patient incidences and a growing geriatric population are expected to play a critical role in driving the market.” Furthermore, ongoing R&D is another factor that will benefit the market in the near future,” says an FMI analyst.
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Competition Analysis
Bayer Corporation, AstraZeneca, Boehringer Ingelheim, Eli Lilly, and Bristol-Myers Squibb are among the region’s key players. F. Hoffmann-La Roche Ltd. launched mySugar Pump Control under the mySugr app in May 2021, which is a recent key development in the industry. mySugr Pump Control allows patients to control insulin pumps from their smartphones in order to import and view data status. The Food and Drug Administration approved a new drug for people with Type 2 diabetes in May 2022. Tirzepatide is a once-week injection that helps people manage their blood glucose levels and reduce their food intake.
Key Segments Profiled in the Global Antidiabetics Market Study
Antidiabetics Market by Product:
- Insulin-based Antidiabetics
- Rapid-Acting Analog
- Long-Acting Analog
- Premixed Insulin
- Short-Acting Analog
- Intermediate-Acting Insulin
- Antidiabetics Drug Class
- Alpha-Glucosidases Inhibitors
- Biguanides
- Sulphonylureas
- GLP-1 (Glucagon-like peptide) Agonists
- DPP-IV (Dipeptidyl Peptidase) Inhibitors
- Meglitinides
- SGLT-II (Sodium-Glucose Transport Proteins) Inhibitors
- Thiazolidinedione
Antidiabetics Market by Patient Population:
- Antidiabetics for Pediatrics
- Antidiabetics for Adults
- Antidiabetics for Geriatrics
Antidiabetics Market by Route of Administration:
- Antidiabetics Administration through Insulin Syringes/ Insulin Pens
- Antidiabetics Administration through Insulin Pumps
- Intravenous Antidiabetics Infusion
- Oral Antidiabetics Administration
- Other Routes of Antidiabetics Administration
Antidiabetics Market by Region:
- North America Antidiabetics Market
- Europe Antidiabetics Market
- APAC Antidiabetics Market
- MEA Antidiabetics Market
- Latin America Antidiabetics Market
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Table of Content
- Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. FMI Analysis and Recommendations
- Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
- Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Antidiabetics
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
TOC Continued…
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