Antidiabetics Market Hits $84.13 Billion By 2020: Grand View Research, Inc.
Global Antidiabetics Market is expected to reach USD
84.13 billion by 2020, according to a new study by Grand View Research, Inc.
Growing prevalence of diabetes is the primary driver of this market. Growth in
prevalence of disease causing lifestyle disorders such as irregular dietary
habits and obesity is also expected to boost product demand by triggering
incidence rates of target diseases. Future commercialization of products
currently in the pipeline and the presence of large untapped opportunities in
the emerging Asia Pacific and Latin American markets is expected to fuel future
market growth.
Insulin was the most revenue generating segment and its
market was valued at over USD 20.0 billion in 2013. Insulin is also one of the
most lucrative segments of this market. Introduction of new products exhibiting
higher efficacy coupled with the presence of favorable government initiatives
are some factors attributing to its market attractiveness.
Browse full research report on Antidiabetics Market: http://www.grandviewresearch.com/industry-analysis/antidiabetics-market
Further key findings from the study suggest:
- Long
acting insulin was the leading product segment in 2013 and is expected to
grow at the CAGR of over 15.0% during the forecast period. The
introduction of advanced products, high prices associated with these
products and the phasing out of human insulin are some key factors
attributing for its large share.
- Rapid
uptake of newly approved DPP-4 inhibitors such as Januvia, Nesina and
Onglyza on account of their once daily dosage regimens and safety profiles
catalyzed the growth of this market.
- North
America was the most matured antidiabetics market in 2013 accounting for
over 43.0% of the market High market penetration of insulin and other
antidiabetics and the presence of sophisticated reimbursement framework
are expected to drive regional market growth.
- Asia
Pacific is expected to present manufacturers with lucrative future growth
opportunities. Large presence of unmet patient needs and rapidly improving
healthcare infrastructure are some factors expected to drive market growth
in the region. The market is also expected to be driven by the
introduction of cheaper products made available by local manufacturers.
- Some
key market players of antidiabetics include Sanofi Aventis, Takeda
Pharmaceuticals, Eli Lilly, Oramed Pharmaceuticals Inc., Merck & Co.
Inc., Novo Nordisk, Bristol-Myers Squibb, Halozyme Therapeutics and
Pfizer.
- The
market is oligopolistic in nature with few players accounting for over 70%
of the market. Extensive R&D investments aimed at new product
development and entering new markets via government contracts are the key
sustainability strategies adopted by these organizations.
For the purpose of this study, Grand View Research has
segmented the global antidiabetics market on the basis of product and region:
Global Insulin Product Outlook (Revenue, USD Million,
2012 - 2020)
• Rapid acting
• Long acting
• Premixed
• Premixed analog
• Short acting
• Intermediate acting
Global Antidiabetics Product Outlook (Revenue, USD Million, 2012 - 2020)
• Alpha-glucosidase inhibitors
• Biguanides
• Sulphonylureas
• GLP-1 agonist
• Meglitinides
• DPP-4 inhibitors
• SGLT – 2
• Thiazolodinediones
Antidiabetics Regional Outlook (Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
• Rapid acting
• Long acting
• Premixed
• Premixed analog
• Short acting
• Intermediate acting
Global Antidiabetics Product Outlook (Revenue, USD Million, 2012 - 2020)
• Alpha-glucosidase inhibitors
• Biguanides
• Sulphonylureas
• GLP-1 agonist
• Meglitinides
• DPP-4 inhibitors
• SGLT – 2
• Thiazolodinediones
Antidiabetics Regional Outlook (Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
Access press release of this research report by Grand
View Research: http://www.grandviewresearch.com/press-release/global-antidiabetics-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information:
www.grandviewresearch.com
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