Antidiabetics
Market growth is driven by rising geriatric population base, innovation of
new drugs, increasing adoption of drugs and increased disposable income. Owing
to the changes in lifestyle, even children between age group of 13-14 years are
at high risk to get diabetes. It offers huge opportunities industry players. Antidiabetics
Market size is set to reach USD 110 billion by 2024; according to a new
research report by Global Market Insights, Inc.
Increasing
number of obese and diabetic patients coupled with rising patient awareness
levels serve as high impact rendering factors for antidiabetic market growth
over the forecast period.
Favorable
government initiatives such as Diabetes Prevention Program (DPP) that aims to
help individuals with prediabetes, reduces their risk to develop type 2
diabetes. Trained lifestyle coach works with participants and communicate
lifestyle skills, such as, eating healthy food, physical activity and managing
stress. Such initiatives should propel industry growth over the forecast
period.
Advent
of new technologies in products like long acting insulin analogs as well as
rapid acting with increased effectiveness should drive industry growth over the
forecast timeframe. The novel insulin pen technology permits low-pain and
suitable daily insulin injection that should upsurge therapy sales. Type 2
diabetes mellitus (T2DM) has strong familial aggregation, the person with a
parent or sibling with disease are at high risk. People with obesity,
hypertension, or dyslipidemia and women with history of gestational diabetes
are also at high risk to develop T2DM.
Browse key industry insights spread across 130 pages with 55 market data tables & 8 figures & charts
from the report Antidiabetics Market
in
detail along with the table of contents:
Long-acting
insulin provide basal insulin coverage. Basal insulin suppresses hepatic
gluconeogenesis and prevent increase in glucose level during fasting state in
insulin-deficient patients. Long acting
insulin analog includes insulin glargine (Lantus) and insulin detemir (Levemir)
which will drive industry growth.
Biguanides
should contribute for significant revenue share in 2016. It is colorless solid
and prevents production of glucose in liver. Biguanides are administered orally
for the treatment of type 2 diabetes. It helps in improving sensitivity of body
towards insulin and decreases amount of sugar absorbed in intestines and will
increase demand for such antidiabetic drugs.
U.S.
antidiabetics market size valued over USD 19.4 billion in 2016 and expected to
grow significantly over the coming years. Increased healthcare expenditure
along with availability of improved healthcare infrastructure and favorable
reimbursement policies should drive antidiabetics market size.
UK
contributed for significant revenue share in 2016. The growth is attributed due
to wide range of funds offered by Diabetes UK for research related to the treatment
of diabetes and its complications. In November 2016, the Prime Minister
introduced new Diabetes UK office on World Diabetes Day.
Japan
antidiabetics market should grow at significant rate over the forecast period.
Diabetic population is on rise due to lifestyle changes that will accompany
economic growth and drive antidiabetic market growth. The Japan Diabetes
Society (JDS) encourage progress and development of diabetes study and prevent
people from disease in the country.
Brazil
contributed for significant revenue share. The growth is attributed due to
early adoption of insulin analogues and increased use of these products in the
country.
Some
of the companies operating in antidiabetics market include Eli Lilly, Pfizer,
Novo Nordisk, Takeda Pharmaceuticals, Sanofi Aventis, Merck, Boehringer
Ingelheim and Oramed Pharmaceuticals.
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