Diabetes Drug Market Dynamic Outlook and Influencing Key Growth
Diabetes is one of the major problem across the globe.
Diabetes is the metabolic disorder in which there is decrease in the level of
insulin which ultimately causes increase in the blood sugar level. Global
diabetic drug market is driven because of increasing diabetic population.
Diabetic Drugs will Grow The Global Diabetic
Drug Market at a CAGR Of 7.1 % During Forecasted Period 2017-2023.Beside
this governmental initiatives for research and development and rising demand
for the better treatment has help in the growth of the market. Lack of
awareness and high cost of drugs may responsible for restraining the market.
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Major Key Players
The major key player for the global diabetic drugs market
are Eli Lilly (US), Novo Nordisk (Denmark), Abbott (US), AstraZeneca (UK),
Biocon (US), Sunpharma (India), Sanofi (France), Novartis (Switzerland), Merck
& Co. (US), Pfizer (US), Daiichi Sankyo (Japan), Boehringer Ingelheim
(Germany), Akros Pharma (US), Amgen (US), Adocia (France), Peptron (South
Korea), Takeda (Japan)
Segmentation:
Global diabetic drug treatment is segmented on the basis of
type of diabetes into type-1 and type-2. On the basis of route of
administration they are segmented into oral, intravenous and other. On the
basis of drug class they are insulin, sensitizers, SGLT-2 inhibitors,
alpha-glucosidase inhibitors, secretagogues, peptide analogs and others and on
the basis of end users they are segmented into hospital, retail pharmacy and
other.
On the basis of drug class, Sensitizers are sub segmented
into thiazolidinediones and biguanides. Secretagogues are further sub segmented
into sulfonylureas and non-sulfonylureas
Market Overview
Increasing diabetic population is fueling the growth of the
market. Global diabetic drug market is highly competitive market due to
presence of many of small and medium companies. Companies are concentrating on
introduction of the new drugs having better results.
Eli Lilly and Company is an US headquartered pharmaceutical
companies. Many anti diabetic drugs are available in the market Basaglar,
Glucagon, Glyxambi, Humalog, Humulin and Trulicity are some of the major
products of this company. Trulicity is one of the most successful product of
the company. Trulicity revenue in 2016 was increased by 7 %. In 2016, Synjardy
has approved by FDA for the treatment of type 2 diabetes.
Novartis is a multinational pharmaceutical company
headquartered in Denmark. Victoza, Tresiba, Levemir and NovoLog are some of the
major products of the company. Company has recently launched Fiasp which is a fast
acting insulin. In Q1 2017 the total sale of company for Diabetes and obesity
care was 23,761 million Danish kroner.
Abbott Laboratories is one of the leading pharmaceutical
company headquartered in US. Thyrocab, Mixtard and Human Actrapid are the major
products of the company used in the treatment of type-2 diabetes. Mixtard an
antidiabetic drug is the most selling drug in India.
AstraZeneca is the Swedish multinational pharmaceutical
company headquartered in UK. Farxiga and Augmentin are the important productof
the company. The companies diabetic product sale in 2016 was $ 2.4 billion
which was increased by 11 % compare to 2015. Farxiga’s sale was increased by 72
% and on 2016 it hit $835 million.
Global Diabetic Drug Market - Regional Analysis
Geographically, North America has a dominating market for
global diabetic drug market. The crucial reason for the growth of the market is
increasing diabetic population. Almost 9.3 % of total America population is
suffering from diabetes. Other than this well-developed infrastructure and
governmental initiatives for the research and development has help to increase
the market. Asia Pacific has the fastest growing market. More than 60% of world
diabetic population lives in Asia Pacific region which is the major driving
factor for the market.
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