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