Selbyville, Delaware, United States, November 4 2020 (Wiredrelease) Global Market Insights, Inc –:Antidiabetics Market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report lists the leading competitors and provides the insights strategic industry Analysis of the key factors influencing the market.
The increasing diabetic and obese population across the globe is slated to impel the antidiabetics market growth over the coming years. In addition, the growing geriatric population across the world, and their susceptibility to diabetes among other critical health issues would further complement the market outlook through 2026.
In fact, as per the WHO (World Health Organization), approximately 422 million people globally suffer from diabetes and over 1.6 million deaths across the world are caused by diabetes related complications. Consequently, to facilitate better treatment options to reduce this high mortality rate, demand for antidiabetics is expected to increase tremendously.
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In addition, the integration of antidiabetics with technologically advanced diabetes treatment devices is expected to further fuel the industry share. Taking May 2019 for instance, Roche Diabetes Care launched its IDMS (Integrated Diabetes Management Solution) that comes with the “Accu-Chek Instant” blood glucose monitoring system and “mySugr” app. These solutions altogether make a next-generation blood glucose monitoring system.
According to a research report by GMI Inc., the global antidiabetics market would register a CAGR of 10.7% through the forecast timeframe. The market was valued at more than $65.5 billion in 2019.
In terms of product, the insulin segment accounted for the largest revenue share in the overall industry landscape in 2019 and is further slated to observe substantial business growth over the coming years. The projected growth can be ascribed to the rising number of patients diagnosed with type 2 diabetes.
In addition, the increasing adoption of numerous advanced treatments for better outcomes is likely to boost the preference for the product among consumers. Furthermore, increasing investments by market players in R&D of new products would also positively impel the segment share. Based on the aforementioned factors, the segment is projected to grow at a CAGR of more than 12.0% over the analysis period.
With respect to patient population, the geriatric population represented approximately 40.0% of the industry share in 2019 and is slated to expand at a significant rate through the analysis period. As per the CDC (Centers for Disease Control and Prevention), over 25% of the U.S. population that is aged 65 years and above suffers from diabetes. Consequently, the growing diabetes cases among the geriatric population would greatly complement the segment share. Moreover, increasing government initiatives and awareness programs are also expected to positively impel the segment size.
Geographically, the growing number of diabetes patients and the increasing geriatric population is expected to majorly fuel the Europe antidiabetics market outlook. In 2019, the region accounted for more than 32% of the overall industry share. Moreover, the market would also witness significant growth in coming years as major industry players are foraying into the regional market to stake their claim in this revenue-rich growth avenue. In addition, growing investments in R&D by the regional governments is also likely to compliment Europe antidiabetics market share.
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With growing patient population, industry players are increasingly focusing on growth strategies like acquisitions, partnerships, investments, and new product launches to bring in more revenues. Taking September 2019 for instance, the U.S. FDA approved Rybelsus, an antidiabetic by Novo Nordisk to treat type 2 diabetes among adults. Rybelsus is the industry’s first GLP-1 (glucagon-like peptide-1) analog in a pill as well as new option for adults with type 2 diabetes.
The competitive landscape of the global antidiabetics market is inclusive of players such as Bristol-Myers Squibb, Boehringer Ingelheim, Bayer Corporation, and AstraZeneca among others.
Partial Chapter of the Table of Content
Chapter 5. Antidiabetics Market, By Patient Population
5.1. Key segment trends
5.2.1. Market size, by region, 2015 – 2026 (USD Million)
5.3.1. Market size, by region, 2015 – 2026 (USD Million)
5.4.1. Market size, by region, 2015 – 2026 (USD Million)
Chapter 6. Antidiabetics Market, By Route of Administration
6.1. Key segment trends
6.2. Insulin syringe/ Insulin pen
6.2.1. Market size, by region, 2015 – 2026 (USD Million)
6.3. Insulin pump
6.3.1. Market size, by region, 2015 – 2026 (USD Million)
6.4. Intravenous infusion
6.4.1. Market size, by region, 2015 – 2026 (USD Million)
6.5.1. Market size, by region, 2015 – 2026 (USD Million)
6.6.1. Market size, by region, 2015 – 2026 (USD Million)
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