The Global Diabetes Drugs Market size is poised to be worth around US$ 60.2 Bn by 2026 rising at a CAGR of around 4.3% over the forecast period 2019 to 2026.
LOS ANGELES, Jan. 31, 2020 (GLOBE NEWSWIRE) — Acumen Research & Consulting, a global provider of market research studies, in a recently published report titled “Diabetes Drugs Market (By Drugs Type: Oral Anti-Diabetes Drugs, Insulin, Non-Insulin Injection, Combination Drugs; By Diabetes Type: Type 1, Type 2, Type 3; By Route of Administration: Oral, Subcutaneous, Intravenous; By Distribution Channel: Online Pharmacies, Hospital Pharmacies, Retail Pharmacies) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”.
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North America dominated the global diabetes drugs market in the year 2018. An increasing population of diabetic people, awareness among the people about diabetes and anti-diabetic drugs, adopting to a sedentary lifestyle, consuming an unhealthy diet, technology advancement, and availability of high-quality healthcare systems and increasing widespread presence of diabetes. According to the Diabetic statistics report published by the Centers for Diabetes Control and Prevention (CDC) in 2017, around 30.3 million people in the U.S. were suffering by diabetes among which 23.1 million people were recognized with diabetes and remaining undiagnosed. Due to the high price of anti-diabetic drugs, among people with diagnosed diabetes, females (14.9%) were more likely males (11.6%) not to take their medication as prescribed and asking their doctor to reduce their prescription drugs cost. Most female patients were asking their doctors to reduce their medication costs as compared to male patients.
Asia-Pacific is expected to register the highest CAGR during the forecast period. China and India are the growing markets for Diabetes Drugs Market because of an increase in the diabetic population and an increasingly aging population, adoption of a sedentary lifestyle, consumption of unhealthy diet, physical inactivity, using tobacco and obesity in these regions. According to WHO, diabetes prevalence has been rising more quickly in middle and low-income countries and the prevalence of diabetes is increasing among adults over 18 years of age. Moreover, the Indian government raising funds for diabetes control, running a campaign to make people aware of diabetes, growing awareness about injectable drug delivery systems and shifting from traditional injectable to ready-to-use injectable are major factors for the growth of diabetes drugs market in the country.
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Insulin segment has dominated the drugs type segment in the year 2017 and the segment is projected to maintain its dominance over the forecast period from 2019 to 2026 because of introduction generic version of insulin and extensively rising demand for novel insulin to control blood sugar levels in both type 1 and type 2 diabetes are the major factors expected to fuel the growth of insulin segment in the market throughout the forecast period. In addition, many government organizations are investing funds in research & development and new product launches by many key players are boosting the diabetes drugs market growth throughout the forecasting period.
Type 2 diabetes segments dominated the diabetes drugs market on the basis of diabetes type in the year 2018. Worldwide 90% of people suffering from type 2 diabetes because of obesity and physical inactivity are the main reason and there are other factors like adoption of a sedentary lifestyle and obesity, physical inactivity, consumption of unhealthy diet. Until recently, type 2 diabetes was seen only in adults but it is now occurring more frequently in children. A wide range of anti-diabetes drugs available which differ not only in their process of actions but also in their glycemic and extraglycemic effect. Treatment guidelines for type 2 diabetes are regularly updated based on real world prescription, medication cost, side effect, supplier and patient preference are driving market. With the development of new category of anti-diabetes therapies since 2005, which includes sodium-glucose cotransporter 2 inhibitors (SGLT2i) and incretin-based drugs, the paradigm of therapy alternative for patients with highly heterogeneous glycemic and cardiovascular risk factors has changed notably. Simply adopting healthy lifestyle to prevent type 2 diabetes and its complicates people should maintain heathy body weight by doing regular workout, eat healthy diet, avoid consumption of sugar and saturated fat and avoid tobacco use as smoking increases the chance of diabetes and cardiovascular diseases.
- Electronic Drug Delivery Systems Market – The global market size is expected to reach around US$ 12.1 billion by 2026 and growing at a CAGR of around 8.9% from forecast period 2019 to 2026.
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Some of the leading competitors are Takeda Pharmaceutical, Merck, AstraZeneca, Johnson & Johnson, Sanofi, Novo Nordisk, Novartis, Bayer Pharmaceuticals, Eli Lilly & Company, Boehringer Ingelheim.
Some of the key observations regarding pet food packaging industry include:
- In 2014, Sanofi manufactured Mega Blockbuster Lantus to cure the basal insulin field. Lantus generated global sales of more than USD 7 billion at its peak.
- In 2015 and 2016, global sales of Lantus were down by 11%, because of competitors from other new drugs, biosimilars, and its own brand Toujeo.
- In March 2017, first oral anti-diabetic drug Zynquista (Sotagliflozin) was approved in the United States for use by adult with type 1 diabetes.
- In September 2017, Insulin Tregopil was the first Oral Insulin and development by Biocon India, which was supported by JDRF.
- In 2019, Eli Lilly and Company introduced an insulin drug that is half the price of its previous brands. Eli Lilly and Company announced the low cost insulin ‘Lispro’ was priced significantly lower than its previous Humalog injection.
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