Non-Insulin Therapies for Diabetes Market To Register a Hugh Growth In Healthcare Industry by 2026 With AstraZeneca, Boehringer Ingelheim GmbH, Bristol-Myers Squibb, Eli Lilly and Company, GlaxoSmithKline, F. Hoffmann-La Roche Ltd.
Non-Insulin Therapies for DiabetesCoherent Market Insights has announced the addition of the “Non-Insulin Therapies for Diabetes Market, by Drug Class (Biguanides, Sulfonylureas Thiazolidinedione’s, Alpha-Glucosidase Inhibitors, DPP-4 Inhibitors, GLP-1 Analogs, and Sodium-glucose co-transporter-2 (SGLT2) inhibitors), by Route of Administration (Oral and Injectable), by Distribution Channel (Retail Pharmacy, Hospital Pharmacy, and Online Pharmacy), and by Region – Size, Share, Outlook, and Opportunity Analysis, 2018 – 2026”, The report classifies the Non-Insulin Therapies for Diabetes Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.
The global economic burden of diabetes is high and is expected to substantially increase over the forecast period. According to the American Diabetes Association research in March 2018, the total costs of diagnosed diabetes have risen to US$ 327 billion in 2017 from US$ 245 billion in 2012. Therefore, non-insulin therapies for diabetes market is expected to witness growth in the near future.
Moreover, companies are launching new products and combination therapies in the market, which is expected to drive growth of the global non-insulin therapies for diabetes market. For instance, in 2017, the Food and Drug Administration (FDA) approved Novo Nordisk’s Ozempic (semiglutide), which is once a week GLP-1 analog, would increase the patient compliance. In December 2017, FDA approved the sodium-glucose co-transporter 2 (SGLT2) inhibitor called ertugliflozin (Steglatro), which is jointly developed by the Merck & Co. and Pfizer Inc. and in January 2018, the European Medicines Agency (EMA) granted approval for the same in Europe.
Increasing global incidence and prevalence of diabetes is expected to fuel growth of the non-insulin therapies for diabetes market. Non-insulin therapies are mainly used in type 2 diabetes, which accounts for around 90% of the global diabetes cases. According to the International Diabetes Federation’s (IDF) Diabetes Atlas 2017, worldwide prevalence of diabetic patients was around 425 million, of which around 400 million patients were suffering from type 2 diabetes. As per the World Health Organization (WHO) 2017 report, diabetes is one of the top 3 causes of death among non-communicable diseases worldwide, with 114.4 million cases in China, 72.9 million cases in India, and 30.2 million cases in the U.S.
Non-insulin Therapies for Diabetes Market: Regional Insights
On the basis of region, the global non-insulin therapies for diabetes market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to drive growth of the non-insulin therapies for diabetes market due to highest diabetes expenditure in the U.S. According to the International Diabetes Federation (IDF), in 2017, around 17,100 new cases of diabetes were detected in the U.S. Asia Pacific is one of the most lucrative region due to increased diabetes burden in China and India, collectively having over 180 million patients suffering from diabetes. According to the American Diabetes Association (ADA), rising incidence of type 2 diabetes in South Asia is likely to be over 150% between 2000 and 2035.
Non-insulin Therapies for Diabetes Market: Competitive Landscape
Key players operating in the global non-insulin therapies for diabetes market include AstraZeneca, Boehringer Ingelheim GmbH, Bristol-Myers Squibb, Eli Lilly and Company, GlaxoSmithKline, F. Hoffmann-La Roche Ltd., Janssen Pharmaceuticals, Merck and Company, Novartis AG, Novo Nordisk, Pfizer, Sanofi Aventis, and Takeda Pharmaceuticals.
Major players are increasingly targeting the newer class of drugs such as GLP-1 analogs or SGLT2. SGLT 2 inhibitors have been approved for use, as a treatment for diabetes since 2013. Most of the drugs under SGL2 inhibitors such as Dapagliflozin, Canagliflozin, and Empagliflozin were launched after 2013. However, intense competition in the market could make it difficult for one particular company to grab larger market share in the non-insulin therapies for diabetes market.