Antidiabetics Market size worth around $130 Bn by 2026

Antidiabetics Market size is predicted to surpass USD 130 billion in 2026; according to a new research report by Global Market Insights Inc.
 

As per the International Diabetes Federation (IDF), diabetes prevalence was 463 million in 2019 and is anticipated to reach by 578 million by 2030. Diabetes is one of the major health issues affecting about half a billion people across the globe and has reached alarming stage. Type 2 diabetes constitutes majority of the burden, accounting for approximately 90% of total diabetes. Also, the annual health expenditure for diabetes valued over USD 760 billion. In addition, increasing treatment cost will influence antidiabetic drugs market size in the coming years.
 

Emergence of other chronic conditions due to diabetes will influence the antidiabetics market supply

According to the recent data by IDF, estimated number of deaths associated with diabetes accounted for 4.2 million in 2019. Moreover, over 80% of last-stage renal diseases are due to diabetes and hypertension. Thus, increasing risk of other health conditions including chronic kidney and cardiovascular diseases due to diabetes will impel the demand for antidiabetic drugs.
 

Lucrative demand for combination therapies will accelerate market growth

Antidiabetics market by product includes insulin and drug class. Drug class market was valued over USD 29 billion in 2019. Single antidiabetic drug treatment is insufficient. Availability of combination drug treatment with antidiabetic agents such as sulphonylureas, DPP-IV and GLP-1 increase the overall effectiveness of therapy. Hence, development of new drugs and combined therapy alternatives will positively impact the segmental growth over forecast period.
 

Browse key industry insights spread across 202 pages with 266 market data tables & 10 figures & charts from the report, “Antidiabetics Market Size By Product (Insulin {Rapid Acting, Long Acting, Premixed Insulin, Short Acting, Intermediate Acting}, Drug Class {Alpha-Glucosidase Inhibitors, Biguanides, Sulphonylureas, GLP-1 Agonist, Meglitinides, DPP-4 Inhibitors, SGLT-2, Thiazolidinedione}), By Patient Population (Pediatric, Adult, Geriatric), By Route of Administration (Insulin Syringe/Insulin Pen, Insulin Pump, Intravenous Infusion, Oral),  Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/antidiabetics-market
 

Adoption of antidiabetics owing to increasing risk of diabetes among adults will foster market growth over forecast period

Adult segment will witness 12% CAGR during 2020 to 2026. Rising incidence of diabetes among adult population will expand the adoption rate of diabetes drugs. According to the IDF, over 374 million adults with impaired glucose tolerance were reported in 2019. In addition, with increasing consumption of sugar-rich diet among adults will impact disease progression, thereby influencing market growth.
 

Drug approvals for oral hyperglycaemics will offer unprecedented growth opportunity

Oral antidiabetics market size was valued over USD 48 billion in 2019 and will foresee robust market growth over analysis timeframe. Metaformin is among the most common oral medications used for managing type 2 diabetes.  Several oral anti-hyperglycaemic drugs have been central treatment for type-2 diabetes mellitus, majorly thiazolidinediones, dipeptidyl peptidase-4 inhibitors, glinides, sulphonylureas, metformin and sodium–glucose cotransporter-2 inhibitors. Moreover, significant increase in oral antidiabetics approvals will impel its demand over projection period. 
 

Increasing spending on diabetes in Asia Pacific will facilitate market expansion

India antidiabetics market held more than 16% market share in 2019 and will grow at considerable rate during projected period. About 77 million people were living with diabetes in the country and was one the major countries with high disease burden. Diabetes-associated healthcare expenditure in Western Pacific region accounted for over USD 162.2 billion and in South-East Asia it was USD 8.1 billion in 2019. Thus, increasing treatment costs and spending by increasing diabetic patients will augment the industry growth.
 

Strategic collaborations among industry players will increase industry growth potential

Some of the notable players operating in the antidiabetics market share include Novo Nordisk, AstraZeneca, Bayer Corporation, Boehringer Ingelheim, Novartis AG, Johnson & Johnson, Merck & Co. Inc., Pfizer and Sanofi among other players. These business leaders primarily focus on strategic alliances such as acquisitions & mergers, partnerships & collaborations and novel product launches to broaden their product portfolio and capitalize on market opportunities.
 

For instance, in December 2019, Zydus Cadila announced the launch of generic version of Vildagliptin in India offering low cost treatment. This product launch has expanded its already diversified product portfolio and will help generating more revenue.