Market Forecast, 2019-2028

Global Antidiabetics Market is anticipated to rise at a value CAGR of 10.35% over 2019-2028. According to a study published by Insure Insights on the Global Antidiabetics Market. Antidiabetics are those drugs used in the treatment of Diabetes; they include insulins and drugs, they are used to stabilize and control blood glucose levels in people with Diabetes. The American Diabetes Association has reported that in the year 2018, about 34.2 million Americans, i.e., about 10.5% of the population, had Diabetes, and 1.5 million Americans are diagnosed with Diabetes every year. The increase in R&D spending by pharmaceutical companies for drug development are driving the demand and adoption of antidiabetic drugs

Top Driver: The rise in the incidences of Diabetes around the globe have escalated the demand of the market

The surge in population growth and the rise in the geriatric population have increased the market growth owing rise in the incidence of diabetes worldwide. The rise in the prevalence of lifestyle-induced disorders like obesity has escalated market revenue. The Advancement in antidiabetic drugs and the Need for effective treatment with low side effects have improved the demand for Antidiabetic drugs.

Insulin in the product segment has made the highest segmental growth in the Global Antidiabetics Market

Based on the Product, Insulin segment has dominated the segmental growth due to the wide variety of Insulin available to control the glucose level of the body. The introduction of short-acting Insulin has gained more importance as it is helpful in post-prandial glucose-controlling ability in both type 1 and type 2 diabetic patients. The development of new Insulin products has increased the preference of Insulin over drugs by the healthcare professionals and thus have expanded the market growth.

In terms of the Patient Population, the Geriatric population segment has obtained the most significant growth as Type 2 diabetes is more prevalent in elderly people; the growth in the geriatric population around the globe has further expanded the market.  Based on the Route of administration, Subcutaneous Route segment has obtained the most remarkable growth owing to the rise in the demand for Insulin.

North America boosts the regional market due to an increase in the population growth   

North America had held the highest growth in the region due to the high demand for modern insulin products such as long-acting, rapid-acting insulin analog. The rise in the geriatric population suffering from diabetes and advances in healthcare infrastructure has boosted the regional market revenue. The growth in the healthcare expenditure growing prevalence of the people with type I and type II diabetes have escalated the regional growth. The rise in government initiatives in diabetes management has further escalated regional growth.

 Product Launches, new advances Strategic Collaborations, Mergers, and Acquisition, are the major strategies of the competitors

The Players of the Global Antidiabetics Market is fragmented.  Product launches, new advances collaborations, mergers, and acquisitions are strategies used by competitors. The key competitors of the Global Antidiabetics Market are Astra Zeneca plc, Eli Lilly & Co., Johnson & Johnson, Mankind Pharma Ltd., Merck & Co. Inc., Novartis AG, Novo Nordisk A/S, Boehringer Ingelheim GmbH and Teva Pharmaceutical Industries Ltd.

Astra Zeneca plc: Astra Zeneca plc, is one of the key competitors of the Global Antidiabetics Market; for instance, In February 2020, Astra Zeneca had announced the launch of Qtern tablets, For the treatment of type 2 diabetes for India. Qtern tablets consist of Dapagliflozin 10mg, Saxagliptin 5mg; it is a film-coated tablet. It is used to improve the glycaemic control in adults with type 2 diabetes mellitus

Merck & Co. Inc.:  Merck & Co. Inc. is a popular competitor in the Global Antidiabetics Market. In December 2029, Merck had announced the acquisition of ArQule; the deal was made for USD 2.7 billion. They are a medical device company. The acquisition was made by Merck to strengthen its product portfolio of Oncology medicines

Scope of the Report

By Product

• Insulin
• Drugs

By Patient Population

• Pediatric
• Adult
• Geriatric

By Route of Administration

• Subcutaneous
• Intravenous infusion
• Oral
• Others

By Region

• North America
• Europe
• Asia Pacific
• LAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.