Global Oral Anti Diabetic Drug Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
Global Oral Anti Diabetic Drug Market: Overview
“The global Oral Anti Diabetic Drug Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Drugs used in diabetes helps to treat diabetes by lowering the glucose level in the blood of human body. There are various types of anti diabetic drugs available in market, and their assortment depends on the age, condition of an individual, and nature of the patient. In addition, treatment and management of diabetes generally begins with an advice on exercise and diet.
Global Oral Anti Diabetic Drug Market: Dynamics
A major factor driving growth of the global oral anti diabetic drug market is rising prevalence of diabetes globally. This prevalence could be because of increasing number of obese population, changing eating habits, round-the-clock working hours and hectic schedules. In addition, rising consumption of alcoholic drinks and bakery products, sedentary lifestyle, rising disposable income is another key factor expected to support growth of the global market. Increasing government support and awareness campaigns regarding diabetes, its causes and symptoms are some of the other factors driving growth of the target market.
However, stringent regulations for production of drugs, and recent products recalls are some of the major factors expected to hamper growth of the target market.
Global Oral Anti Diabetic Drug Market: Trends
Key trend observed in the market currently is that the companies are focusing on receiving health care authority regulatory approvals. In addition, prominent players are conducting various clinical trials for studying the effectiveness and safety level of drugs is another trend observed in the target market.
For instance, in May 2018, Sanofi S.A, which is a France-based company received FDA approval for new oral treatment – Zynquista (sotagliflozin).
In addition, in July 2018, Lupin Limited and Boehringer Ingelheim collaborated for co-marketing 2 oral anti-diabetic drugs in India.
Global Oral Anti Diabetic Drug Market: Segment Analysis
On the basis of distribution channel, the hospital pharmacies segment is estimated to register high growth revenue, owing to growing number of hospitals, due to increasing burden of chronic diseases. In addition, the online pharmacies segment is estimated to register highest CAGR over the forecast period, due to high penetration of smart phones and internet especially in developing regions.
Global Oral Anti Diabetic Drug Market: Regional Analysis
In 2018, the market in North America is estimated to register high revenue growth, owing to favorable government regulations and reimbursement policies, and launch of innovative products by major manufacturers in countries in the region. Asia Pacific market is estimated to register highest CAGR over the next ten years. Increasing spending on healthcare sector and development of large number of medical facilities are major factors expected to drive growth of the Asia Pacific oral anti diabetic drug market. The markets in Europe is expected to account for moderate revenue share in the global market, followed by Latin America, and Middle East & Africa markets in the global oral anti diabetic drug market.
Global Oral Anti Diabetic Drug Market Segmentation:
Segmentation by drug class:
- Alpha-glucosidase inhibitors
- Others (includes Biguanide, Dopamine -D2 receptor agonist, etc.)
Segmentation by distribution channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Takeda Pharmaceutical Company Ltd.
- Pfizer Inc.
- Eli Lilly and Company
- Janssen Pharmaceuticals, Inc.
- Astellas Pharma Inc.
- H. Boehringer Sohn AG & Ko. KG
- Merck and Co.
- AstraZeneca plc
- Bristol-Myers Squibb Company
- Novartis International AG
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