What’s So Trendy about Non-insulin Therapies for Diabetes Market That Everyone Went Crazy over It? | GSK, Eli Lilly, Sumitomo Dainippon Pharma, Intarcia Therapeutics
The global rise in people suffering from type 2 diabetes is expected to drive the global non-insulin therapies for diabetes market. The global non-insulin therapies for diabetes market is estimated to reach a market value of US$ 64,590.6 million in 2019 and it is expected to reach US$ 105,461.5 million by 2027, growing at an estimated CAGR of 6.3% over the forecast period.
Globally, diabetes is considered to be the most common disease and is ranked as top ten fatal disease in the U.S. Non-insulin therapies are frequently used in type 2 diabetes, accounting more than 90.0% of the diabetes cases. The rising economic burden of diabetes is substantially very high and is expected to surge in the coming future. According to statistics published by the American Diabetes Association (ADA), in March 2018, the cost to diagnose diabetes have increased to US$ 327 billion in 2017. Hence, non-insulin therapies for diabetes hold promising future in the coming years.
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The detailed research study provides qualitative and quantitative analysis of the Global Non-insulin Therapies for Diabetes Market. The market has been analyzed from the scope of demand as well as supply. The analysis of demand covers market revenue across regions and further also across all the major countries. The analysis of supply covers the major Non-insulin Therapies for Diabetes Market players and their regional and global presence and strategies. The geographical analysis emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Non-insulin Therapies for Diabetes Market Key Findings:
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Non-insulin Therapies for Diabetes Market Key Market Segment:
- Oral product market segment held nearly 90 % of market share in 2018 and is estimated to grow at CAGR of above 6.5% during the forecast period. The growth is attributed to new approvals by the FDA. In May 2019, FDA approved Qternmet XR tablets, for the people suffering from type 2 diabetes.
- Injectable market is estimated to grow with CAGR of 4.9% over the projection timeframe, owing to ongoing research & development of injectable and rise in adoption of combination therapies.
- In 2018, the U.S. region in the non-insulin therapies for diabetes market accounted for highest revenue share. The high share is attributed to the presence of pharmaceutical companies engaged in the research & development for the treatment of type 2 diabetes.
- Asia Pacific region non-insulin therapies for diabetes market is expected to witness the highest growth rate of 7.2% over the forecast period. The presence of huge type 2 diabetic population will contribute to market growth in this region.
- Key industry participants in the global non-insulin therapies for diabetes market are Eli Lilly and Company, Eurofarma Laboratorios S.A., GlaxoSmithKline plc, Merck Sharp & Dohme Corp. (subsidiary of Merck & Co., Inc), Novo Nordisk Luye Pharma Group, and Pfizer Inc. among others.
- Partnership, collaboration, expansion and acquisition are some of the strategies adopted by companies to expand their reach and gain competitive advantage
Non-insulin Therapies for Diabetes Market By Distributor
- Thiazolidinediones (TZDs)
- Insulin secretagogues
- Alpha-glucosidase inhibitors (AGIs)
- Dipeptidyl peptidase-4 (DPP-4) inhibitors
- Sodium-glucose cotransporter-2 (SGLT2) inhibitors
- Glucagon-like peptide-1 (GLP-1) agonists
- Amylin Agonists
Non-insulin Therapies for Diabetes Market By Geography
- Hospital Pharmacy
- Retail Pharmacies
- Online Pharmacy
- North America
- Rest of North America
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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