Global antidiabetics market is expected to reach USD 84.13 billion by 2020, according to a new study by Grand View Research, Inc. Growing prevalence of diabetes is the primary driver of this market. Growth in prevalence of disease causing lifestyle disorders such as irregular dietary habits and obesity is also expected to boost product demand by triggering incidence rates of target diseases. Future commercialization of products currently in the pipeline and the presence of large untapped opportunities in the emerging Asia Pacific and Latin American markets is expected to fuel future market growth.
Insulin was the most revenue generating segment and its market was valued at over USD 20.0 billion in 2013. Insulin is also one of the most lucrative segments of this market. Introduction of new products exhibiting higher efficacy coupled with the presence of favorable government initiatives are some factors attributing to its market attractiveness.
Global antidiabetics market, by product, 2012 – 2020 (USD Billion)
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Key Takeways Of The Report :
- Long acting insulin was the leading product segment in 2013 and is expected to grow at the CAGR of over 15.0% during the forecast period. The introduction of advanced products, high prices associated with these products and the phasing out of human insulin are some key factors attributing for its large share.
- Rapid uptake of newly approved DPP-4 inhibitors such as Januvia, Nesina and Onglyza on account of their once daily dosage regimens and safety profiles catalyzed the growth of this market.
- North America was the most matured antidiabetics market in 2013 accounting for over 43.0% of the market High market penetration of insulin and other antidiabetics and the presence of sophisticated reimbursement framework are expected to drive regional market growth.
- Asia Pacific is expected to present manufacturers with lucrative future growth opportunities. Large presence of unmet patient needs and rapidly improving healthcare infrastructure are some factors expected to drive market growth in the region. The market is also expected to be driven by the introduction of cheaper products made available by local manufacturers.
- Some key market players of antidiabetics include Sanofi Aventis, Takeda Pharmaceuticals, Eli Lilly, Oramed Pharmaceuticals Inc., Merck & Co. Inc., Novo Nordisk, Bristol-Myers Squibb, Halozyme Therapeutics and Pfizer.
- The market is oligopolistic in nature with few players accounting for over 70% of the market. Extensive R&D investments aimed at new product development and entering new markets via government contracts are the key sustainability strategies adopted by these organizations.
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Grand View Research has segmented the global antidiabetics market on the basis of product and region:
Global Insulin Product Outlook (Revenue, USD Million, 2012 – 2020)
- Rapid acting
- Long acting
- Premixed analog
- Short acting
- Intermediate acting
Global Antidiabetics Product Outlook (Revenue, USD Million, 2012 – 2020)
- Alpha-glucosidase inhibitors
- GLP-1 agonist
- DPP-4 inhibitors
- SGLT – 2
Antidiabetics Regional Outlook (Revenue, USD Million, 2012 – 2020)
- North America
- Asia Pacific
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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