Global Antidiabetic Drugs Market
Antidiabetic drugs do not cure diabetes instead they help diabetic patients to keep their condition under control and lower the risk of diabetes complications in future. Type 2 diabetes and other non-communicable diseases are a major public health concern globally with 6.4% of the adults population i.e. 285 million people are suffering from diabetes, which is projected to reach the number 552 million by 2030, according to the International Diabetes Federation. In US alone approximating 79 million individuals are reported prediabetic. Most of the diabetic population prefers generic drugs rather than the branded ones, for instance, most people take metformin, not Glucophage, and similarly many take glipizide, a generic sulfonylurea drug, while few take Glucotrol, its brand-name version.
Goldstein Research analyst forecast that antidiabetic drugs market size is set to reach USD 106.5 billion by 2024, at a CAGR of 10.12% over the forecast years.
Covered In This Global Antidiabetic Drugs Market Report
The report covers the present ground scenario and the future growth prospects of the Antidiabetic Drugs market for 2016-2024 along with the number of diabetic population and adoption rate of generic as well as branded drugs. We calculated the market size and revenue share on the basis of revenue generated from the sales of Antidiabetic Drugs from major players and number of total diabetic patients across the globe.
Global Antidiabetic Drugs – Market Segmentation
By Drug Class
? Biguanides (metformin)
? Sulfonylureas (glimepiride)
? Meglitinides (repaglinide)
? Thiazolidinediones (pioglitazone)
? Dipeptidyl peptidase IV (DPP-IV) inhibitors (sitagliptin)
? ?-Glucosidase inhibitors (acarbose)
By Mode of Administration
? Oral (eg. oral hypoglycemic)
? Intravenously (eg. insulin and GLP-1 receptor agonists)
By Diabetes Type
? Diabetes Type 1
? Diabetes Type 2
? Other Types
o Genetic defects of the ?-cell
o Genetic defects in insulin action
o Drug- or chemical-induced diabetes
o Infections (congenital rubella, coxsackievirus B, cytomegalovirus, adenovirus, and mumps)
By Drug Type
Based on Geography
? North America (U.S. & Canada) Antidiabetic Drugs Market
? Latin America (Brazil, Mexico, Argentina & Rest of Latin America) Antidiabetic Drugs Market
? Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden & RoE) Antidiabetic Drugs Market
? Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) Antidiabetic Drugs Market
? Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Antidiabetic Drugs Market
On the basis of drug type, branded drugs dominate the antidiabetic drugs market by acquiring 51% of total market share while in future generic drugs tends to hold the promising market .
Antidiabetic Drugs Market Outlook 2016-2024, has been prepared based on an in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the global antidiabetic drugs market. The report also includes porters five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Global market report also recognizes value chain analysis to understand the cost differentiation to provide competitive advantage to the existing and new entry players.
Our global antidiabetic drugs market report comprises of the following companies as the key players in the Antidiabetic Drugs market: Zydus Cadila, Actavis, Alphapharm, Andromeda Biotech, Arisaph, Astellas Pharma, AstraZeneca, Bayer, Biocon, Blue Cross, Bristol-Myers Squibb, Biogen Idec, Boehringer Ingelheim, Boston Therapeutics.
Other high-flying vendors in the market are Eli Lilly, Franco-Indian Pharmaceuticals, Furiex Pharmaceuticals, Genentech, Generex Biotechnology Corporation, GlaxoSmithKline (GSK), Johnson & Johnson (J&J), Lupin, Merck & Co., Mylan, Novartis, Novo Nordisk, Pfizer, Ranbaxy Laboratories, Roche, Sanofi, Sun Pharma.
According to our global market study on the basis of extensive primary and secondary research: One of the growing trend of antidiabetic drugs market is that CRO (Contract Research Organizations) and CMO (Contract Manufacturing Organization) sectors saw dozens of acquisitions in 2016 and 2017, and expect that trend to continue in 2018.
According to the report, major driver for expansion of Antidiabetic Drugs market is strong encouragement from the governments like promoting healthy nutritional policies and favoring modifications in the environment that encourage greater physical activity and make prevention affordable for all citizens at high risk are the drivers of antidiabetic drug market.
Further, the report states that one challenge in antidiabetic drug market is despite the availability of numerous branded antidiabetic drugs, maximum of them have lost patent protection and due to huge pressures from government and regulatory authorities, to ban top selling drugs in various countries, in order to promote generic drugs at lower costs for diabetic patients.
Based on geography, North America holds the largest market share of 35% in 2016 while APAC is projected to witness a robust growth with a CAGR of 11.12% over the forecast years. Middle East and Africa hold the opportunities for the antidiabetic drugs player owing to consumer spending capacity and rising irregular dietary habits leading to increasing occurrences of diabetes and related disorders
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Key questions answered in this Antidiabetic Drugs report
What is the total market size by 2024 and what would be the expected growth rate of air data system?
What is the sale of Antidiabetic Drugs in 2015-16 and what would be the expected demand over the forecast period?
What are the key market trends?
What are the factors which are driving this market?
What are the major barriers to market growth?
Who are the key vendors in this market space?
What are the market opportunities for the existing and entry level players?
What are the recent developments and business strategy of the key players?
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