Antidiabetics Market Increase in investment towards R&D Driving Sector Growth

Posted by Ganesh Shinde on January 12th, 2023

The global Antidiabetics Market is estimated to secure US$ 223 Billion while expanding at a CAGR of 9.6% during the forecast period. The growth of the market can be attributed to the increasing prevalence of diabetes across the globe. Also, the aging baby boomer is another factor driving the market in the forecast period.

According to International Diabetes Federation, the global diabetes incidence is anticipated to increase from 366 million in 2011 to 552 million by 2030. Such a significant increment in the number of diabetic patients is projected to benefit the industry in the forecast period.

Also, the development of new products is anticipated to benefit the market in the coming time. For instance, in January 2022, Novo Nordisk, the Danish drug provider, announced the launch of oral semaglutide in India for the treatment of Type 2 diabetes. Moreover, the development of advanced pumps based on smart technologies such as; AI and ML are predicted to offer various opportunities.

For instance, in July 2021, Ypsomed AG expanded the range of features of the mylife YpsoPump system. The app-based deployment of the Dexcom G6 Continuous Glucose Monitoring (CGM) System allows people with diabetes to manage their therapy through their smartphones.

On the contrary, expenses associated with insulin pumps, lack of awareness about the treatment methods, and poor reimbursement framework in developing countries are anticipated to hinder the market growth.

Competition Analysis

Key players in the region include Bayer Corporation, AstraZeneca, Boehringer Ingelheim, Eli Lilly, and Bristol-Myers Squibb. Recent key developments in the industry are:

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Key Segments Profiled in the Global Antidiabetics Market Study

Antidiabetics Market by Product:

• Insulin-based Antidiabetics
• Rapid-Acting Analog
• Long-Acting Analog
• Premixed Insulin
• Short-Acting Analog
• Intermediate-Acting Insulin
• Antidiabetics Drug Class
• Alpha-Glucosidases Inhibitors
• Biguanides
• Sulphonylureas
• GLP-1 (Glucagon-like peptide) Agonists
• DPP-IV (Dipeptidyl Peptidase) Inhibitors
• Meglitinides
• SGLT-II (Sodium-Glucose Transport Proteins) Inhibitors
• Thiazolidinedione

Antidiabetics Market by Patient Population:

• Antidiabetics for Pediatrics
• Antidiabetics for Adults
• Antidiabetics for Geriatrics

Antidiabetics Market by Route of Administration:

• Antidiabetics Administration through Insulin Syringes/ Insulin Pens
• Antidiabetics Administration through Insulin Pumps
• Intravenous Antidiabetics Infusion
• Oral Antidiabetics Administration

• Other Routes of Antidiabetics Administration