WiseGuyReports.com adds new report on “Global Type 2 Diabetes Market 2016-2020” of 112 pages with table and figures on its research store. The market research analysts have predicted that the global type 2 diabetes drugs market will grow at an impressive CAGR of more than 7% during the forecast period.
This market research study presents a detailed segmentation of the global type2 diabetes drugs market by drug class (insulin, DPP-4 inhibitors, GLP-1 receptor agonists, SGLT-2 inhibitors, and others) and by geography (Americas, APAC, and EMEA). The top vendors identified in the market are Novo Nordisk, Sanofi, Merck, Eli Lily, and AstraZeneca.
Overview of the type 2 diabetes drugs market
The market research analysts have predicted that the global type 2 diabetes drugs market will grow at an impressive CAGR of more than 7% during the forecast period. A growing older population will have a positive impact on the type 2 diabetes drugs market during the forecast period. With life expectancy rising and births declining, the proportion of individuals aged 60 years will be 22% by 2050. Whereas, in the EU, the population of people aged 80 and above is projected to double by 2040. Population aging is likely to accelerate the incidences of diabetes in the coming years. With age, the proliferative ability of beta cells of the pancreas reduces and cells start undergoing rapid apoptosis. The reduced proliferation of beta cells is associated with the reduced expression of cell cycle activators and increased expression of cell cycle inhibitors, resulting in type 2 diabetes.
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In this industry report, the analysts have estimated factors such as the increasing awareness of type 2 diabetes to drive this market in the coming years. Several organizations like International Diabetes Federation (IDF) run various community-level and global-level programs that focus on educating people and enhancing their knowledge about diabetes and its management. Globally, the World Diabetes Day is celebrated on November 14 by over 200 member associations of the IDF. Such organizations run community and global level programs to educate people about diabetes and the best ways to manage the condition. Moreover, a blue circle is accepted as the symbol for diabetes, and it promotes existing and new activities aimed at increasing awareness about the disease. These programs are mostly conducted in collaboration with other national and international institutes, for instance, Novo Nordisk launched "Cities Changing Diabetes," a program to map diabetes cases and share solutions to fight against the disease in cities around the world.
Segmentation by drug class and analysis of the type 2 diabetes drugs market
- DPP-4 inhibitors
- GLP-1 receptor agonists
- SGLT-2 inhibitors
The insulin drugs dominated the market and are expected to hold more than 47% of the market share by the end of 2020. Factors such as the increase in population with type 1 and type 2 diabetes and its awareness will contribute to the growth of this market segment. Moreover, the rising obese and older population is also expected to spur the growth prospects of this market segment.
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Segmentation by geography and analysis of the type 2 diabetes drugs market
During 2015, the Americas dominated the global type 2 diabetes drugs market and accounted for almost 58% of the total market share. The US was the largest revenue contributor to the region because of the growing prevalence of type 2 diabetes and obesity in this region.
Competitive landscape and key vendors
The global type 2 diabetes drugs market is highly competitive due to the presence of several small and large vendors. The market is open to new players and has a lot of opportunities for growth. The competitive environment is expected to increase in due to the product extensions, new products, and new applications of the products and services provided.
Key vendors in this market are –
- Novo Nordisk
- Eli Lily
Other prominent vendors analyzed in this market research report are the Adocia, Akros Pharma, Amgen, Astellas Pharma, Biocon, Boehringer Ingelheim, Chipscreen Biosciences, ConjuChem, CymaBay Therapeutics, Daiichi Sankyo, DiaMedica, Diasome Pharmaceuticals, Dong-A ST, Elcelyx Therapeutics, Exsulin, Generex, Genfit, Hanmi, Hua Medicine, InteKrin Therapeutics, Ionis Pharmaceuticals, Janssen Pharmaceuticals, Japan Tobacco, Kadmon, KinDex Pharmaceuticals, Kissei, Kotobuki Pharmaceutical, Lexicon Pharmaceuticals, Ligand, MannKind, MedImmune, Melior Pharmaceuticals, Metabolic Solutions Development Company, Mitsubishi Tanabe Pharma, Novartis, NGM Bio, NuSirt Biopharma, Oramed, Peptron, Pfizer, PhaseBio, Poxel, Sanwa Kagaku Kenkyusho, Sirona Biochem, Takeda, Theracos, Theratechnologies, Transition Therapeutics, VeroScience, vTv Therapeutics, and XBiotech.
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