Antidiabetics Market to reach US$ 223 billion by 2032, growing at a 9.6% CAGR from 2022 to 2032 | Future Market Insights, Inc.

The global Antidiabetics Market is expected to earn US$ 223 billion while expanding at a CAGR of 9.6% during the forecast period. The rising prevalence of diabetes worldwide can be attributed to the market's expansion. The ageing baby boomer population is another factor driving the market during the forecast period.

According to the International Diabetes Federation, the global diabetes incidence will increase from 366 million in 2011 to 552 million by 2030. During the forecast period, the industry is expected to benefit from a significant increase in the number of diabetic patients.

Furthermore, new product development is expected to benefit the market in the near future. For example, Novo Nordisk, a Danish pharmaceutical company, announced the launch of oral semaglutide for the treatment of Type 2 diabetes in India in January 2022. Furthermore, the development of advanced pumps based on smart technologies like AI and ML is expected to open up a slew of new doors.

For example, Ypsomed AG expanded the functionality of the mylife YpsoPump system in July 2021. The app-based deployment of the Dexcom G6 Continuous Glucose Monitoring (CGM) System enables 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.

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

Read More@ https://www.futuremarketinsights.com/reports/antidiabetics-market

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