Oral Anti Diabetic Drug: Market Insights
The oral antidiabetic drug market is projected to grow at a high CAGR over the coming years. Rising prevalence of diabetes across the world coupled with growing pharmaceutical investments in developing efficient and safe drugs that can be administered easily is projected to boost demand for the oral antidiabetic drug.
Oral diabetic drugs help reduce the absorption of glucose, therefore, enabling cells to use glucose more effectively. The introduction of financial and insurance policies that addresses the requirements of diabetic patients is anticipated to propel market demand over the coming years.
Oral Anti Diabetic Drug Market: Drug Insights
On the basis of the drug, the market is segmented into Alpha-Glucosidase inhibitors, Biguanide, Sodium - glucose cotransport -2 (SGLT-2) inhibitor, Dopamine -D2 receptor agonist, Dipeptidyl peptidase - 4 (DPP-4) inhibitors, Meglitinide, and Sulfonylureas. Dipeptidyl peptidase - 4 (DPP-4) inhibitors were estimated to observe the largest demand in 2017. This drug helps lower glucose levels for management of type 2 diabetes. The requirement for drugs that offer minimal side effects, safe usage, and convenient dosage regimen are projected to stay in demand over the coming years.
Oral Anti Diabetic Drug Market: Regional Insights
The North American region is projected to hold the largest share in the antidiabetic drug market. In July 2017, it was estimated by the Centers for Disease Control and Prevention (CDC) that more than 100 million adults in the U.S. suffered from diabetics. The increasing number of obese population and its concurrent adverse impact leading to diabetes is projected to increase demand for oral drugs.
The Asia Pacific region is projected to grow at a high CAGR over the coming years, followed by countries in the Middle East & Africa and Central & South America. High prevalence of diabetes in countries such as Malaysia, Singapore, India, Sri Lanka, and China among others is projected to augment demand for the oral antidiabetic drug in the region. Availability of these drugs at a cheaper rate in countries such as China is also anticipated to boost demand over the coming years.
Oral Anti Diabetic Drug Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to prescribe oral antidiabetic drug over the coming years. Some leading prescribers of this market are Mayo Clinic, Cleveland Clinic, UCSF Medical Center, Massachusetts General Hospital, and Johns Hopkins Hospital among others.
Oral Anti Diabetic Drug Market: Vendor Landscape
The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.
Oral Anti Diabetic Drug Market Share & Competitor Analysis
Some of the key companies in the oral anti diabetic drug market are Takeda, Eli Lilly, Astellas, Pfizer, Merck And Co., Novartis, Sanofi, Bristol Myers Squibb, AstraZeneca, Boehringer Ingelheim, Johnson & Johnson, and Janssen Pharmaceuticals among others.
In December 2017, Pfizer and Merck And Co. developed a new drug for type II diabetes which gained the approval of the Food and Drug Administration (FDA). The company’s are anticipated to sell the drug under the brand name Steglatro.