Antidiabetics Market Is Projected To Grow Quickly Due To Increased Prevalence Of Irregular Dietary Habits And Obesity Till 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
Global antidiabetics market, by product, 2012 – 2020 (USD
Billion)
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.
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-antidiabetics-market
About Grand View Research,
Inc:
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, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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