Global Diabetes Drugs Market US$ 51.4 billion in 2019 and is estimated to be US$ 93.6 billion by 2029 and is anticipated to register a CAGR of 6.20%. Diabetes, often known as diabetes mellitus, is a metabolic illness in which a person’s blood glucose levels are abnormally high. Inadequate insulin production or a faulty insulin response in the body are the most common causes. Chronic health concerns, including as cardiovascular diseases (CVDs), renal, nerve, and neurological damage, can result from this illness. Different anti-diabetic medications, as well as self-monitoring, continuous glucose monitoring, and insulin delivery devices, are used to diagnose and monitor the disorder’s impact in the body. Aside from that, a variety of software and web-based diabetes and blood glucose tracking apps, as well as data management systems, are widely employed in the healthcare industry.
The global diabetes drug market is majorly driven by increasing number of diabetic population. According to research, smoking increases the possibility of diabetes; more than 60% of the global population smokes, this has increased the risk of diabetes and contributed to the growth of the diabetes drug market. During last decade there is a tremendous increase in the number of diabetic population. According to International Diabetes Federation, in 2016, it was estimated that 420 million adult populations were suffering from diabetes which is increasing at the rate of 8.4% and is expected to reach 625 million by 2040. The government is taking steps to control diabetes also increases the growth of the diabetes drugs market. For instance, WHO estimated that 422 million people globally suffered from diabetes and also indicated that 1.5 million people died from diabetes, which are some of the major factors responsible for the market growth. However, cost issues, strict regulatory rules and long approval time for drugs might be hampering the growth of the diabetes drugs market.
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Key Highlights of Diabetes Drugs Market:
- In January 2022, Novo Nordisk India has launched an oral formulation for an anti-diabetes drug that was available only as injections, and claimed the new drug can help better control blood sugar levels and weight in adults with type-2 diabetes..
- In January 2022, billionaire Mark Cuban has entered the online pharmacy sector with a mission to lower prescription drug costs. The Mark Cuban Cost Plus Drug Company will offer drugs for diabetes, heart health, gastrointestinal issues, mental health, cancer, and antibiotics.
Key Market Insights from the report:
The Global Diabetes Drugs Market accounted for US$ 51.4 billion in 2019 and is estimated to be US$ 93.6 billion by 2029 and is anticipated to register a CAGR of 6.20%. The Global Diabetes Drugs Market has been segmented on the basis of diabetes type, drug class, distribution channel and region
By Diabetes Type:
Type 1 and Type 2.
By Drug Class:
Insulin, DPP-4 Inhibitors, GLP-1 Receptor Agonists, SGLT2 Inhibitors, and Others.
By Distribution Channel:
Online pharmacies, Hospital Pharmacies, and Retail Pharmacies
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Diabetes Drugs Market:
The prominent player operating in the global diabetes drugs market includes Eli Lilly, Novo Nordisk, Abbott, AstraZeneca, Biocon, Sunpharma, Sanofi, Novartis, Merck & Co., Pfizer, Daiichi Sankyo, Boehringer Ingelheim, Akros Pharma, Amgen, Adocia, Peptron, and Takeda.
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Global Diabetes Drugs Market, By Diabetes Type:
- Type 1
- Type 2
Global Diabetes Drugs Market, By Drug Class:
- DPP-4 Inhibitors
- GLP-1 Receptor Agonists
- SGLT2 Inhibitors
Global Diabetes Drugs Market, By Distribution Channel :
- Online Pharmacies
- Hospital Pharmacies
- Retail Pharmacies
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Global Insulin Biosimilars Market, By Biosimilar Type (Rapid-acting Biosimilars, Long-acting Biosimilars, and Premixed Biosimilars), By Disease Indication Type (Type 1 Diabetes and Type 2 Diabetes), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) – Trends, Analysis and Forecast till 2029
Global Diabetes Monitoring Device Market, By Product Type (Self-Monitoring Glucose Devices, Continuous Glucose Monitoring Devices), By Indication (Type-I Diabetes, Type-II Diabetes, Gestational Diabetes), By Method (Invasive, Non-Invasive), By End User (Hospitals, Clinics, Ambulatory Surgical Centers, Home Care Centers, and Others) and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, Africa)- Trends, Analysis and Forecast till 2029
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Estimation
- Top-Down Approach
- Bottom-Up Approach
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Opportunities
- Market Trends
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
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