Antidiabetics Market Size By Product (Insulin [Rapid Acting, Long Acting, Premixed Analog, Premixed Insulin, Short Acting, Intermediate Acting], Other Antidiabetics [Alpha-Glucosidase Inhibitors, Biguanides, Sulphonylureas, GLP-1 Agonist, Meglitinides, DPP-4 Inhibitors, SGLT-2, Thiazolidinedione]), By Application (Type I Diabetes, Type II Diabetes), Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Japan, India, China, Australia, Brazil, Mexico, South Africa, Saudi Arabia), Application Potential, Price Trends, Competitive Landscape & Forecast, 2017 – 2024
Published Date: September 2017 | 130 Pages | Report ID: GMI504 Report Format: PDF
Antidiabetics Market size was valued over USD 49.5 billion in 2016 and is expected to witness more than 10.5% CAGR from 2017 to 2024.
India Antidiabetics Market, By Product, 2013 - 2024 (USD Million)
Growing geriatric population along with escalating diabetes prevalence across the globe should drive the antidiabetics market size. According to WHO, diabetes will be the among the leading causes of death by 2030 which poses a major burden on the healthcare systems. These factors will have a positive impact on the global usage of insulin as well as other antidiabetics including DPP-4 and GLP-1 over the forecast period.
Adoption of sedentary lifestyle will contribute to increasing levels of obese population across the world. Increased levels of tobacco consumption, high blood pressure, elevated cholesterol levels are other major risk factors associated with diabetes and obesity accelerating the demand for insulin and other antidiabetic products in the future.
Numerous awareness campaigns and education programs organized by associations and diabetes societies to increase awareness levels and deliver information about diabetes control will propel industry expansion. For instance, National Diabetes Week celebrated from 9th to 15th July is an awareness activity conducted by Diabetes SA for optimal diabetes management. Some of the other educational and awareness programs include “Beat Diabetes” and “Control Your Diabetes. For Life.” Excessive cost associated with the use of insulin products will hamper antidiabetics market growth.
Antidiabetics Market, By Product
Insulin products accounted for largest market share in 2016 and is anticipated to expand at approximately 12.0% CAGR over the coming years. Major dominant players are developing innovative products used to treat and prevent the disease owing to increased burden of diabetes. For instance, in May 2017, Sanofi Aventis received a positive approval grant by the European Medicines Agency (EMA) for commercialization of its Insulin lispro biosimilar, a rapid -acting insulin analogue intended to treat children and adults with diabetes. Furthermore, Type II diabetes awareness campaign conducted by Diabetes UK for effective management of the disease will boost demand for insulin products.
Other antidiabetics market size will witness significant growth from 2017 to 2024. Rising diabetes incidences, large unmet medical needs, and extensive R&D activities to launch new antidiabetic drugs including Glucagon like peptide 1 (GLP-1) agonist and Dipeptidyl peptidase - IV will promote other antidiabetics market growth.
Antidiabetics Market, By Application
Type II diabetes market was leading the revenue share in 2016 and should show a similar trend over the forecast years. Presence of large patient pool suffering from type II diabetes owing to adoption of lifestyle changes coupled with increased resistance to insulin will boost demand for antidiabetic drugs in the future. Type I diabetes will hold a smaller share as compared to the former but is expected to witness significant growth rate during the forecast timeframe.
Antidiabetics Market, By Region
U.S. antidiabetics market accounted for largest regional share in 2016 owing to high prevalence of diabetes in the country. Rising geriatric population, adoption of sedentary lifestyle, increasing cases of obesity, lack of physical activity are the major risk factors for the increasing diabetes prevalence contributing to rise in demand for insulin and other anti-diabetic products over the coming few years.
Germany antidiabetics market will witness a robust growth over the forecast period due to rising prevalence of type II diabetes which further results to increased usage rate of antidiabetics in the country. Rising demand for antidiabetic drugs along with various awareness campaigns for diabetes management should strongly drive regional business growth.
Asia Pacific should witness lucrative growth over the forecast timeframe owing to the presence of large patient pool in India and China. Increasing obese population along with rising awareness for diabetes care, growing penetration of technologically advanced insulin products will further boost the business. Rapidly growing healthcare expenditure coupled with increasing focus of manufacturers of antidiabetic drugs on the emerging economies will augment industry size.
Competitive Market Share
Some of the major players dominating global antidiabetics market are Novo Nordisk, Eli Lilly and Sanofi. Extensive product portfolio and rising R&D investment for producing innovative and pipeline products are the major strategies adopted by these players to maintain their market share. Other active players in the market include Takeda Pharmaceuticals, Merck, Boehringer Ingelheim and Bristol-Myers Squibb. New industry players are trying to exploit the lucrative market by developing cost-effective biosimilars to reduce the excessive cost barrier for effective diabetes management.
Antidiabetics Industry Background
Growing government focus on reducing disease burden costs owing to rising prevalence of diabetes and obese population across the world will drive global antidiabetics industry. Awareness and educational campaigns coupled with increased investment on diabetes research will further accelerate market growth during the forecast period. The industry is expected to witness tremendous growth in the future due to favourable reimbursement policies in the developed countries such as U.S. Strong product pipeline and presence of extensive product portfolio enables the dominant industry players to maintain their market foothold.
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