Selbyville, Delaware, Global Oral Antidiabetic Drugs Market Report added at Market Study Report LLC offers industry size, share, growth, trends and forecast analysis up to 2027. Oral Antidiabetic Drugs Market Report also covers top key players, porters five forces analysis and market segmentation in detail. This report examines the global Oral Antidiabetic Drugs market and provides information regarding the revenue for the period 2020 to 2027.
Global Oral Antidiabetic Drugs Market is valued at approximately USD 26.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 10.3% over the forecast period 2020-2027. Oral anti-diabetic drugs can be defined as a medication consumed orally which are recommended to heal diabetes mellitus (type 2). It treats diabetes mellitus by reducing the level of blood sugar level. These drugs often known as oral antihyperglycemic agents or oral hypoglycemic agents.
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Oral anti-diabetic drugs are also recommended as monotherapy, however in acute cases, and can be provided in blend with insulin. Rising incidences of diabetes across the globe, increasing aging population, and rapidly growing research and development efforts by pharmaceutical manufacturers to promote the demand for oral drugs are the few other factors driving the market growth during the forecast period. According to the International Diabetic Federation (IDF), the prevalence of diabetes among adults (20-79 years) was about 463 million adults in 2019, and this estimation is likely to grow almost 700 million by the year 2045. Similarly, as per the IDF Diabetes Atlas in 2019, the number of diabetic patients in Europe is expected to reach around 68 million by 2045, with total health expenditure for diabetes almost USD 214 billion. This, in turn, is expected to accelerate the usage of Oral Antidiabetic Drugs all over the world.
Amidst the COVID-19 outbreak around the world, the pharma industry is more concerned about the development of the COVID-19 vaccine, thus, R&D efforts for oral antidiabetic drugs is substantially decline. Though, the demand for oral anti-diabetic drugs is not affecting, and it is high as much as before the COVID-19 crisis. Therefore, the market will boost at a significant rate in the forthcoming years. However, the high cost of oral antidiabetic drugs is one of the major factors impeding the growth of the market over the forecast period of 2020-2027.
Major market player included in this report are:
- Takeda Pharmaceutical Company Ltd.
- Pfizer Inc.
- Eli Lilly and Company
- Janssen Pharmaceutica
- Astellas Pharma
- Boehringer Ingelheim Group
- Merck & Co., Inc.,
- AstraZeneca plc
- Novartis International AG
- Sanofi S.A.
The regional analysis of the global Oral Antidiabetic Drugs market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising prevalence of diabetes, coupled with the introduction of new anti-diabetic drugs with improve efficacy in the region. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as growing diabetic population, coupled with improving healthcare infrastructure would create lucrative growth prospects for the demand of Oral Antidiabetic Drugs in the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
- North America
- Asia Pacific
- Latin America
- Rest of the World
Global Oral Antidiabetic Drugs Market Insights, Forecast to 2025
Diabetes mellitus is a group of a metabolic disorder caused when the body is unable to produce required quantity of Insulin. Insulin is a hormone secreted by beta cells of the islet of Langerhans of the pancreas. Various symptoms associated with diabetes disorder include recurrent urination, increased thirst, and hunger. Diabetes can cause much chronic complication if left untreated. Some of them include acute complications like diabetic ketoacidosis, chronic kidney failure, foot ulcers, and damage to the eyes.
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