A recent report published by Infinium Global Research on diabetes drug market provides an in-depth analysis of segments and sub-segments in the global as well as regional diabetes drug market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional diabetes drug market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global diabetes drug market. According to the report, the global diabetes drug market is projected to grow at a CAGR of 5.3% over the forecast period of 2019-2025.
Diabetes, also referred to as diabetes mellitus is a group of diseases that occurs when blood glucose in the body is too high. Blood glucose is important for health as it is a vital source of energy that contributes to building muscles and tissue and is also energy fuel for the brain. Insulin is a hormone secreted by the pancreas, that promotes glucose uptake from the food which is been utilized by the cells to produce energy. In some cases, the body is unable to produce insulin which is type 1 diabetes whereas when the body does not produce insulin or neither can use insulin well is type 2 diabetes While prediabetes is the case where blood glucose is higher than normal but not much high to be referred as diabetes. In pregnancy, some women may get diabetes, known as gestational diabetes. In all such cases, glucose stays in the bloodstream and doesn’t reach the cells which in turn may cause damage to kidneys, nerves, and eyes. Diabetes may also lead to stroke or heart diseases.
One of the major factors driving the growth of the market is the growing prevalence of diabetes worldwide. According to the WHO, 422 million adults have diabetes that’s one person in eleven and around 1.5 million death caused by diabetes. Furthermore, increasing awareness about diabetes and its treatment among all the age groups is another factor fuelling the growth of the market. On the other hand, improper diagnosis of diabetes type I and II and lack of knowledge about the treatment in low-income countries as well as high costs associated with the drugs may slow down the growth of the market. However, a rise in government as well as private sector initiatives, research, and innovations in technology for innovative drugs will have greater opportunities for the diabetes drug market.
Geographically, the diabetes drug market can be segmented into North America, Europe, Asia Pacific, and RoW. The Asia Pacific dominates the segment and tends to dominate the market over the forecast period. Change in lifestyle and rising prevalence of diabetes is the major factor boosting the market in this region. In North America, the market is presumed to grow substantially during the forecast period due to the huge diabetes patient pool and rising awareness among the people. Europe contributes to the market growth due to established and well-organized healthcare sector thereby driving the growth of the diabetes drug market.
The report on the global diabetes drug market covers segments such as drug type and application. On the basis of drug type, the sub-markets include injectable drugs, and oral drugs. On the basis of application, the sub-markets include type 1 diabetes, and type 2 diabetes.
The report provides profiles of the companies in the market such as Bayer Healthcare, Bristol-Myers Squibb, Eli Lilly and company, Biocon Ltd, Piramal healthcare ltd, Novartis AG, GlaxoSmithKline, Dr. Reddy's laboratories ltd, Ranbaxy laboratories ltd, Novo Nordisk, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the diabetes drug market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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