Oral Anti Diabetes Market
Oral Anti Diabetes Market Overview:
The global market for oral anti-diabetes drugs is estimated at USD 39.2 billion in 2019 and is increasing as a result of the increase in the population of type 2 diabetes. Approximately 10% of cases of diabetes globally contribute to type 1 diabetes, and 90 percent of cases of diabetes contribute to type 2 diabetes. The number of people with diabetes is likely to achieve 592 million by 2035. In 2013, the global economic cost of diabetes is estimated at USD 548 billion. Thus, the rise in the prevalence of diabetes worldwide is probable to generate vast demand for diabetes drugs.
Key Market Trends: –
DPP-4 Inhibitors Segment is having large market share:
During the forecast period, the DPP-4 inhibitors segment is expected to experience constant growth rate owing to the introduction of new drugs that have enhanced efficacy, such as glucagon-like peptide GLP-1 and sodium-glucose co-transporter-2 SGLT-2 inhibitors. The segment is still expected to maintain the largest market share of all market segments for oral anti-diabetes drugs.
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Asia Pacific is dominating the market growth:
North America currently holds a major share in the drugs market for oral anti-diabetes. Asia-Pacific, however, is anticipated to experience the highest growth rate during the forecast period. This is due to the high incidence of diabetes in this region, which caused negative health and financial effects. In fact, an increase in the launch of new drugs with enhanced efficacy and high reimbursement for medicines is anticipated to have a beneficial effect on the market for oral anti-diabetes drugs. India, China, and Japan are leading the market owing to the increasing population of diabetes in the Asia-Pacific region.
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Competitive Landscape:
The global market for oral anti-diabetes drugs is consolidated, with few significant companies having a global market presence, while the remaining manufacturers are restricted to other local or region-specific manufacturers. Innovations on the market for diabetes drugs like Novo Nordisk Semaglutide first oral GLP-1 agonist conducted better than anticipated against Januvia. Oramed is conducting research on the new molecule ORMD-0801, the first oral insulin capsule with the most convenient and safe way to deliver insulin therapy. This drug is anticipated to be a game-changer in the insulin and oral anti-diabetes drug markets.
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