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The Global Antidiabetics Market size is estimated to reach USD 160.21 Billion from USD 74.06 Billion in 2020, exhibiting a CAGR of 10.2% through 2028.

NEW YORK CITY, NY, UNITED STATES, June 19, 2023/EINPresswire.com/ -- The estimated size of the global Antidiabetics Market is projected to reach USD 160.21 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 10.2% from its value of USD 74.06 billion in 2020. This growth is primarily attributed to the increasing prevalence of diabetes among the population due to factors like changing lifestyles and unhealthy dietary habits, including alcohol consumption, tobacco smoking, and others. The European Society of Cardiology predicts that the global number of people with diabetes will reach 628.6 million by 2045.

The growth of the antidiabetics market is further supported by education programs and awareness campaigns led by diabetes associations and government organizations. These initiatives aim to raise awareness and provide information about the benefits of diabetes control. Currently, there are various drug combinations, such as sitagliptin and metformin, and other combinations, in different stages of clinical trials and pipeline development.

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Additionally, the expanding elderly population worldwide presents a lucrative opportunity for market growth, as older individuals have a higher risk of developing diabetes and associated disorders. With advancing age, the prevalence of type 2 diabetes increases, along with a heightened risk of vascular diseases, stroke, and coronary heart diseases. Elderly diabetes patients are also at a greater risk of developing physical disabilities or sarcopenia. The aging baby boomer population worldwide is expected to contribute to the revenue share of the antidiabetics market throughout the forecast period.

Segments Covered in the Report –

The global antidiabetics market can be analyzed based on different factors such as patient type, application, product, and administration mode.

Patient Type Outlook:

• Adult: The revenue generated from antidiabetic treatments for adults is expected to contribute significantly to the market. This includes medications and therapies tailored for adult patients with diabetes.

• Pediatric: The market also considers the revenue generated from antidiabetic treatments specifically designed for pediatric patients. This includes medications and therapies suitable for children and adolescents with diabetes.

• Geriatric: With the increasing elderly population worldwide, the revenue from antidiabetic treatments for geriatric patients is projected to have a notable impact on the market. This includes medications and therapies catering to the specific needs of older individuals with diabetes.

Application Outlook:

• Type II Diabetes: The market revenue for antidiabetic treatments targeted at Type II diabetes, which is the most common form of diabetes, is expected to be significant. This includes medications and therapies designed to manage and control Type II diabetes.

• Type I Diabetes: Antidiabetic treatments aimed at Type I diabetes, an autoimmune disease, are also considered in the market analysis. This includes medications and therapies tailored for individuals with Type I diabetes.

Product Outlook:

• Insulin: The revenue generated from insulin, a crucial hormone for diabetes management, plays a vital role in the antidiabetics market. This includes various forms of insulin, such as short-acting, long-acting, and rapid-acting, administered through injections or pumps.

• Drug Class: The market also takes into account the revenue from non-insulin antidiabetic drugs. These drugs include oral medications and other non-insulin injectable medications used in the treatment of diabetes.

Administration Mode Outlook:

• Insulin Syringe/Insulin Pen: The revenue generated from insulin syringes or insulin pens used for administering insulin to diabetes patients is considered in this category.

• Insulin Pump: The market analysis includes the revenue from insulin pumps, which provide continuous subcutaneous insulin infusion for diabetes management.

• Intravenous Infusion: Antidiabetic treatments that involve intravenous administration of medications are also considered, and the revenue generated from this administration mode is included.

• Oral: The revenue from oral antidiabetic medications, including tablets and capsules, is accounted for in the market analysis.
By considering these various factors and their respective revenue projections, the global antidiabetics market can be comprehensively evaluated.

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Strategic development:

On July 28, 2020, AstraZeneca was granted Fast Track Designation in the United States for the development of its proprietary drug FARXIGA^®. This medication, already approved for the treatment of type-2 diabetes, aims to reduce the risk of cardiovascular death or hospitalization for heart failure (hHF) in adults who have experienced a heart attack or acute myocardial infarction.

In December 2020, Mankind Pharmaceuticals, a leading Indian pharmaceutical company, entered into a collaborative marketing agreement with Glenmark Pharmaceuticals. The purpose of this agreement was to jointly market an antidiabetic medication called 'remoglifozin' in India. Through this partnership, both companies were able to expand their business activities in the Asia Pacific region.

Competitive Landscape:

The global antidiabetics market is driven by key players such as Eli Lilly, Bayer Corporation, Novartis, Johnson & Johnson, AstraZeneca, Pfizer, Bristol-Myers Squibb, Novo Nordisk, Oramed Pharmaceuticals, Merck, Takeda Pharmaceutical, Sanofi, and Boehringer Ingelheim, among others. These industry leaders play a crucial role in shaping the market landscape and are actively involved in various strategic initiatives to fuel market growth.

To stay competitive and expand their market presence, these companies employ strategies such as acquisitions, mergers, collaborations, new product development, and capacity expansion. These initiatives help them strengthen their product portfolios, enhance their research and development capabilities, and capitalize on emerging market opportunities. By actively engaging in such activities, these key players contribute to the overall growth of the antidiabetics market.

Furthermore, the significant investments made by these industry giants in research and development activities further drive market expansion. By investing in innovative technologies, clinical trials, and drug discovery, they aim to bring forth novel treatment options, improve existing therapies, and address unmet needs in diabetes management. These investments not only advance the field of antidiabetics but also contribute to the overall progress of medical science.

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Overall, the active participation and strategic initiatives undertaken by the key players in the global antidiabetics market are instrumental in driving market growth, fostering innovation, and improving patient outcomes in the field of diabetes management.

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