Antidiabetics Market : Description
Drugs that are used to treat diabetes mellitus and are also referred to as oral hypoglycemic/antihyperglycemic medicines are included in the anti-diabetics market. With the prevalence of diabetes mellitus rising, the anti-diabetics industry has experienced enormous growth in recent years. As a result, systemic therapy for diabetes have emerged to the forefront of discussion due to the growing number of people with the disease, who impact youngsters and middle-aged people from various socioeconomic backgrounds worldwide.
Biguanides (metformin), sulfonylureas (glimepiride), meglitinides (repaglinide), thiazolidinediones (pioglitazone), dipeptidyl peptidase IV (DPP-IV) inhibitors (sitagliptin), and -glucosidase inhibitors are the several pharmacological classes that make up the anti-diabetics industry (acarbose).
Biguanides, one of these medication types, directly combat insulin resistance. Sulfonylureas (SUs) were among the first pharmacological classes available to treat diabetes, and they have been used to treat
Antidiabetics Market : Overview
The global antidiabetics market is anticipated to generate US$ 89.2 billion in 2022, up from US$ 80.4 billion in 2021, exhibiting a Y-o-Y growth rate of 10.9 percent. The industry is anticipated to reach US$ 223 billion, growing at a CAGR of 9.6 percent between 2022 and 2032. During the period from 2022 to 2032, it is anticipated that the rising prevalence of diabetes will be the main driver driving the worldwide antidiabetics market. Drugs that are used to treat diabetes mellitus and are also referred to as oral hypoglycemic/antihyperglycemic medicines are included in the anti-diabetics market. With the prevalence of diabetes mellitus rising, the anti-diabetics industry has experienced enormous growth in recent years. As a result, systemic therapy for diabetes have emerged to the forefront of discussion due to the growing number of people with the disease, who impact youngsters and middle-aged people from various socioeconomic backgrounds worldwide.
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Market Insights
The drug metformin is categorised as a biguanide and is used to treat type 2 diabetes. For its “off-label” use in treating persons with disorders like insulin resistance, it is prescribed. Since metformin therapy was introduced, a large number of patients have been successfully treated with this widely accessible drug with a good risk/benefit profile and is advised by IDF recommendations as a first-line prescription. As a result, metformin continues to be the most often prescribed oral antidiabetic drug in the world, with over 150 million people using it annually at a prescription rate of between 45 and 50 percent of all prescriptions. The large market share is a result of long-term favourable experience with metformin use, strong evidence of clinical efficacy, safety, high adherence rate, low cost, widespread availability, and cost-effectiveness.
Antidiabetics Market : Segment Analysis
Global Antidiabetics Market: Top Key Players
Sanofi-Aventis
Takeda Pharmaceuticals
Eli Lilly
Oramed Pharmaceuticals
Boehringer Ingelheim
Merck & Co. Inc.
Novo Nordisk
Bristol-Myers Squibb
Halozyme Therapeutics
Pfizer
Global Antidiabetics Market: By Types
Type 1 Diabetes
Type 2 Diabetes
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Global Antidiabetics Market: By Applications
Hospital Use
Clinic Use
Household
Key Regions & Countries
North America (the United States, Canada, and Mexico), Europe, (Germany, France, UK, Russia, and Italy), Asia-Pacific (China, Japan, Korea, India, and Southeast Asia), South America (Brazil, Argentina, Colombia, etc.), and The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).
FAQs
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- Who are the Antidiabetics manufacturers across the globe?
- Which geographical location is dominant in the Antidiabetics market?
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