Global Diabetes Drugs Market 2021 Benefits and Applications, Trends and Major Key Players: Eli Lilly, Novo Nordisk, Abbott, AstraZeneca.
“”Global Diabetes Drugs Market Analysis and Forecast to 2030″”
Global Diabetes Drugs Market, By Type Of Diabetes (Type 1 And Type 2), By Drug Class (Insulin, DPP-4 Inhibitors, GLP-1 Receptor Agonists, SGLT2 Inhibitors And Others), By Channel distribution (online pharmacies, hospital pharmacies, and retail pharmacies), and by region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Trends, analyzes and forecasts until 2029
Global Diabetes Drugs Market 51.4 billion US$ in 2019 and is estimated to reach 93.6 billion US$ by 2029 and is expected to register a CAGR of 6.20%. Diabetes, often called diabetes mellitus, is a metabolic disease characterized by abnormally high blood sugar levels. Inadequate insulin production or poor insulin response in the body are the most common causes. Chronic health problems, including cardiovascular disease (CVD), kidney, nerve, and neurological damage, can result from this condition. Different diabetes medications, as well as self-monitoring, continuous blood glucose monitoring and insulin delivery devices, are used to diagnose and monitor the impact of the disease on the body. Apart from this, a variety of diabetes and blood glucose monitoring software and web applications, as well as data management systems, are widely used in the healthcare sector.
The global diabetes drugs market is mainly driven by the growing number of diabetics. According to research, smoking increases the possibility of diabetes; more than 60% of the world’s population smokes, which has increased the risk of diabetes and contributed to the growth of the diabetes drug market. Over the past decade, the number of diabetics has increased dramatically. According to the International Diabetes Federation, in 2016, 420 million adults were estimated to have diabetes, which is increasing at the rate of 8.4% and is expected to reach 625 million by 2040. Government takes steps to control diabetes . the growth of the diabetes drug market. For example, the WHO estimated that 422 million people worldwide suffered from diabetes and also stated that 1.5 million people died from diabetes, which are among the major factors responsible for the growth of the market. However, cost issues, stringent regulatory rules, and long drug approval times might hamper the growth of the diabetes drug market.
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Major Highlights of the Diabetes Drugs Market:
- In January 2022, Novo Nordisk India launched an oral formulation for an anti-diabetic drug that was only available in the form of injections, and claimed that the new drug can help better control blood sugar and weight in adults with diabetes. Type 2 diabetes.
- In January 2022, billionaire Mark Cuban entered the online pharmacy business with a mission to reduce 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 was valued at US$51.4 billion in 2019 and is estimated to grow to US$93.6 billion by 2029 and is expected 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 type of diabetes:
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, Middle East and Africa.
Competitive Landscape and their Strategies for Diabetes Drugs Market:
Leading 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:
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 about industrial base, productivity, strengths, manufacturers and recent trends which will help companies to expand their business and promote financial growth. In addition, the report presents dynamic factors, including segments, sub-segments, regional markets, competition, dominant key players and market forecast. Additionally, the market includes recent collaborations, mergers, acquisitions, and partnerships as well as regulatory frameworks in different regions impacting the trajectory of the market. Recent technological advancements and innovations influencing the global market are included in the report.
Some important points addressed by this market report are given below:
- Explains an overview of the product portfolio, including product development, planning and positioning
- Explains details of key operational strategies with emphasis on R&D strategies, corporate structure, location strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of market revenue over the forecast period.
- Examine various market perspectives using Porter’s Five Forces Analysis, PEST & SWOT Analysis.
- Study on the segments expected to dominate the market.
- Regional Analysis Study which is expected to register the highest growth over the forecast period
Global insulin biosimilars market, by type of biosimilar (rapid-acting biosimilars, long-acting biosimilars and premixed biosimilars), by type of disease indication (type 1 diabetes and type 2 diabetes) and by region (Americas North, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Trends, Analysis and Forecasts to 2029
Global Diabetes Monitoring Devices Market, By Product Type (Self-Monitoring Blood 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 surgery centers, home care centers and others) and by region (North America, Latin America, Europe, Middle East, Asia-Pacific, Africa) – Trends , analyzes and forecasts until 2029
- Market dynamics, regulation and trend analysis
- Market dynamics
- R&D impact analysis
- PEST analysis
- Porter’s Five Forces Analysis
- Orbit of Opportunity
- Market Investment Feasibility Index
- Analysis of macroeconomic factors
- Market estimate
- Top-down approach
- An in-depth approach
- Market Breakdown and Data Triangulation
- Research hypotheses
- Market opportunities
- Market trends
- Approach to estimate market share by top-down analysis (supply side)
- Approach to estimating market share by bottom-up analysis (demand side)
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