Antidiabetics Market size is valued at $ 61.5Bn by 2019 and is anticipated to grow at a CAGR of 4.6% during the forecast period 2020-2025. The Antidiabetics Market growth rate is attributed to increase as diabetes mellitus is rapidly prevalent owing to the burgeoning scale of the diabetic population, systematic diabetes therapies have now become the subject of research, with diabetes impacting middle-aged communities and adolescents throughout all income classes worldwide. Diabetes is a chronic metabolic disease in which the body is either unable to produce insulin (type 1) or unable to use the insulin (type 2) generated. Diabetes is a type of metabolic disease in which the person has high blood glucose (blood sugar), owing to inadequate insulin production, or cells of the body that do not respond to insulin or both properly. Patients with elevated sugar levels experience various symptoms such as increased thirst (polydipsia), weight loss, increased appetite (polyphagia), and frequent urination (polyuria) with a sweet smell. If untreated, diabetes causes multiple life-threatening problems, both acute and chronic. Diabetes can occur in any person, regardless of age or gender. Overweight and obese individuals are more susceptible to diabetes, and those with poor diets and less physical activity are. Diabetes can lead to several serious effects such as blindness, amputations, kidney failure and higher death risk. According to the International Diabetes Federation (IDF), the prevalence of diabetes in 2019 was 463 million, and is projected to exceed 578 million by 2030. Diabetes is one of the most significant health problems affecting about half a billion people worldwide and has reached an alarming level. Type 2 diabetes is the bulk of the responsibility, accounting for around 90 per cent of total diabetes.
Antidiabetics are widely used with the help of antidiabetic agent to treat diabetes. It helps a diabetic person regulate their blood glucose (sugar) level. It contains primarily insulin, and hypoglycemic oral agents. There are various classes of anti-diabetic drugs and their selection depends on the essence of the person’s diabetes, age and situation; as well as some other factors. Hence, there is a need for effective treatment with low side effects is set to result into increasing R&D spending by pharmaceutical firms for drug development. Thus, escalating demand and adoption of antidiabetic drugs in developing as well as developed nations fuel the market growth. The total number of diabetes-related deaths accounted for 4.2 million in 2019, according to IDF’s latest statistics. Moreover, diabetes and hypertension are responsible for over 80 per cent of last-stage renal diseases. Increasing the risk of other health conditions including chronic kidney disease and diabetes-related cardiovascular diseases is set to result in demand for antidiabetic drugs.
By Product Type – Segment Analysis
On the basis of product type, insulin segment held the major share of the market in terms of revenue and is poised to grow with a CAGR of 4.2%. The reason is be attributed to high rates of usage coupled with effective therapeutic properties associated with the attributes of the product to its large market share. In addition, this segment is anticipated to gain revenue share during the forecast period 2020-2025 as a result of the introduction of new products and the potential future marketing of products currently under pipeline. Apart from this, the advent of a short-acting analogue has improved its post-prandial glucose-controlling capacity in diabetic patients of both type 1 and type 2. In addition, the segment is set to see unprecedented growth during the study period with a rise in the Type-2 diabetic patient pool.
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By Geography – Segment Analysis
North America dominated the Antidiabetics Market with a share of 32.6% in 2019. The application of Antidiabetics has grown rapidly over the last few years owing to the sophisticated healthcare facilities in this region as well as high market penetration of modern insulin products such as long-acting, rapid-acting insulin analogues and DPP-4 drugs such as Januvia, Onglyza, and Nesina, and high healthcare expenditure, patient recognition, advanced healthcare infrastructure, and reimbursement mechanisms are the major contributing factors to its large share. According to a report published by the American Diabetes Association, approximately 34.2 million Americans were living with diabetes in 2018 and about 88 million people had prediabetes in the region.
There are initiatives, such as better healthcare infrastructure, high expenditure on healthcare, favorable reimbursement policies, and penetration of long acting and rapid acting insulin analogs in countries of this region. Also, several established drug manufacturers have high penetration in the U.S. antidiabetics industry. Furthermore, increasing need for diabetes management among COVID-19 patients suffering from comorbidities, are anticipated to propel the Antidiabetics Market during the forecast period 2020-2025.
Asia Pacific is set to grow at the fastest rate during the forecast period 2020-2025 owing to the rapidly improving healthcare expenditure levels, increased prevalence of type I and type II diabetes and increased patient disposable incomes.
Drivers – Antidiabetics Market
Growing investment in drug development to manage diabetes is set to spur industry expansion
With Increase in the prevalence of diabetes and growing investment in drug development to manage diabetes there has been an increase in new product launches by major pharmaceutical companies which is anticipated to spur industry expansion. Diabetic population is projected to reach 628.6 million by 2045, according to the European Society of Cardiology. Diabetes management requires timely intervention and medication during the entire lifetime of patients owing to a lack of curative drugs. Advancement in antidiabetic drugs has led to higher success rates and complications are minimised. For instance, various new drugs including dipeptidyl peptidase-4 inhibitors, selective sodium glucose cotransporter 2 inhibitors and unique peroxisome proliferator-activated receptor agonists are in development stages. Furthermore, with Introduction of new mechanisms have increased opportunities for combination therapies. Hence, public and organizational efforts to innovate in diabetes drugs space is set to impel the market size in near future, thereby providing a lucrative support to the Antidiabetics market globally.
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Challenges – Antidiabetics Market
Drug patent expiry and poor reimbursement policies
Many of these drugs have lost patent protection, despite the availability of numerous branded antidiabetic drugs. In the wake of enormous pressure from government and regulatory authorities, which have banned top selling drugs in different countries to promote generic drugs at lower diabetic patient costs. As a result, antidiabetic’s amount is poised to move into the market of first-generation drugs and other generic products. In addition, there is an immense unmet medical antidiabetic need that can treat numerous chronic diabetes disorders such as cardiovascular diseases, dyslipidemia, hypertension, etc. For instance, Mankind Pharma, launched anti-diabeticDynaglipt (Teneligliptin) under the drug class DPP-4 inhibitors in November 2015 in India targeting the middle to low income diabetic patient population. Another major restraint in the antidiabetics market is reduction in the efficacy of drugs over a period and can lead to other health complications.
Antidiabetics Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Antidiabetics Market. In 2019, Antidiabetics Market share is fragmented by the top ten players present in the market. Antidiabetics Market top 10 companies are Astra Zeneca plc, Boehringer Ingelheim GmbH, Eli Lilly & Co., Johnson & Johnson, Mankind Pharma Ltd., Merck & Co. Inc., Novartis AG, Novo Nordisk A/S, SanofiS.A., Teva Pharmaceutical Industries Ltd. and others.
In December 2019, Mankind Pharmaceuticals has signed a joint marketing agreement with Glenmark Pharmaceuticals to market an antidiabetic drug called remoglifozin in India. This has helped both companies to grow their Asia Pacific business.
In February 2018, Cipla co-operated with Novartis and Johnson & Johnson to market their anti-diabetic products. This partnership has resulted in the firm’s expansion of its business and thus improved its market position.
North America dominated the Antidiabetics Market with a share of 32.6% in the year 2019.
The factors such as governments’ initiatives to educate and spread awareness, improvement in diabetes treatment and products innovations are amongst the major factor projected to impel growth of Antidiabetics Market.
Increasing geriatric population, rising prevalence of obesity among population owing to various reasons such as unhealthy lifestyles, and stressful and round-the-clock working conditions are the key factors owing to the growth in the segment during forecast period 2020-2025.
Related Reports :
A. Diabetes Therapeutics Market
B. Saxagliptin Market
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