The global oral anti-diabetes drugs market is estimated to expand at a substantial CAGR during the forecast period, 2021-2028. Diabetes is chronic condition in which the human body cannot successfully use the generated insulin, or the pancreas is unable to synthesize sufficient insulin. Diabetes is characterized by intensified levels of blood glucose, which can even result in critical damage to kidneys, blood vessels, nerves, heart, and eyes. Diabetes is alternatively known as hyperglycemia. Insulin is a hormone that controls the blood sugar in body. Consistent rise in blood sugar steers to high diabetes. Uncontainable diabetes can injure the nervous system and other organs.
Diabetes is classified into type 1 and type 2 diabetes. Type 1 is insulin-dependent diabetes and occurs when the immune system imprudently assaults and exterminates the beta cells of the pancreas. As a result, little to no insulin is secreted into the body and sugar saturates in the blood otherwise used as energy.
The type 1 diabetes is unusual condition affecting nearly 10% of diabetes patients and about 90% of diabetes patients are affected by the type 2 diabetes. Meanwhile, the type 2 diabetes occurs when body is unable to use up insulin or cannot synthesize the required amount.
Market Trends, Drivers, Restraints, and Opportunities:
- The oral anti-diabetes drugs market is growing rapidly owing to the rising number of the Type 2 diabetes patients. The substantial growth in the market can be attributed to the growing commonness of diabetes and the snowballing number of programs introduced by different health organizations related to diabetes awareness. The surge in the type2 diabetes patients globally is estimated to create huge demand for oralanti-diabetes drugs.
- Multiplying obese population is projected to boost oralanti-diabetes drugs market growth. Moreover, the development in medical technology is anticipated to propel the growth of the oral anti-diabetes drug market during the forecast period.
- Constant research on diabetic treatment is estimated to generate opportunities in the oral anti-diabetes market during the forecast period. Growing sedentary lifestyle and wide insurance coverage in developed economies are anticipated to contribute to promoting oral anti-diabetes drugs.
- The complexities linked with the usage of oral anti-diabetes drugs can be a hindrance in the market growth.
Scope of the report:
The report on the global oral anti-diabetes drugs market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
2018 & 2019
Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
Global Oral Anti-Diabetes Drugs Market Segment Insights:
Dipeptidyl Peptidase - 4 to hold a significant market share
Based on drugs, the global oral anti-diabetes drugs market can be segmented into biguanides, alpha-glucosidase inhibitors, dopamine-d2 receptor agonists, sodium-glucose cotransport -2 [SGLT-2] inhibitor, dipeptidyl peptidase - 4 [DPP-4] inhibitors, sulfonylureas, and meglitinides. The dipeptidyl peptidase - 4 (DPP-4) segment of the oral anti-diabetes drug market is estimated to grow at a substantial rate during the forecast period. DPP-4 drugs are gaining impetus in the market as the products are widely considered to offer less negative impact on cardiovascular outcomes and risk for heart failure. Moreover, they can be used in combination with insulin and sulphonylure as well as in monotherapy, thereby, positioning it in widely used class of drugs.
Online Pharmacies to capture a significant market share
Based on distribution channels, the global oral anti-diabetes drugs market can be divided into hospital pharmacies, retail pharmacies, and online pharmacies. The online pharmacies segment is anticipated to expand at a healthy growth rate during the forecast period owing to the rising number of patients preferring for doorstep delivery of oral anti-diabetes drugs from online pharmacy portals. The COVID-19 lockdown that forced to shut offline stores and the fright of getting infected with the virus can be attributed to the increased dependence on online pharmacies.
North America constitutes a large share of the global market
In terms of regions, the global oral anti-diabetes drugs market can be classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America constituted for a prime share in terms of revenue and is anticipated to retain its position during the forecast period. The key reason of the regional market growth is the presence of many diabetes patients in the region. The new cases of the type 1 and type 2 diabetes are anticipated to rise among the young population in the Asia-Pacific region. Activities in extensive R&D activities, cutting-edge technologies, and significant funding by the government along with private players especially in the US are projected to exhibit a substantial growth in the region during the forecast period.
Segments Covered in the Report
The global oral anti-diabetes drugs market can be divided based on drugs, dosage types, distribution channels, and regions.
- Alpha-glucosidase Inhibitors
- Dopamine-d2 Receptor Agonists
- Sodium-glucose Cotransport -2 [SGLT-2] Inhibitor
- Dipeptidyl Peptidase - 4 [DPP-4] Inhibitors
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
- Eli Lilly and Company
- Merck KGaA
- Novartis AG
- Novo Nordisk
- Piramal Pharma Limited
- Sun Pharmaceutical Industries Ltd.
The global oral anti-diabetes drugs market is extremely competitive due to the huge number of competitors. Major players in the global genomic biomarkers market include Abbott, AstraZeneca, Biocon, Eli Lilly and Company, Merck KGaA, Novartis AG, Novo Nordisk, Piramal Pharma Limited, Sanofi, and Sun Pharmaceutical Industries Ltd. Many companies have adopted research and development as a business strategy tool to withstand the competition along with expansions, joint ventures, acquisitions, and others to increase their market share. The strategies are aimed at providing better quality and new features to customers.