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.
Global non-insulin therapy for the diabetic market is divided into North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. According to the International Diabetes Federation (IDF), 17,100 new cases of diabetes were found in US diabetes in 2017. One of the most profitable regions of China and India due to the increased burden of diabetes, a total of more than 180 million patients suffer from diabetes.
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In line with this, several pharmaceutical companies engaged in the research & development and subsequent launch of new products. For instance, in January 2019, Novo Nordisk introduced Ozempic (Semaglutide), a GLP analogue injection in U.K. Moreover, in June 2019, the Food & Drug Administration (FDA) approved Victoza (liraglutide) injections for the treatment of pediatric patients suffering from type 2 diabetes.
Non-insulin therapy is most often used for people with type 2 diabetes, where the body does not produce enough insulin or the resulting insulin cannot be used effectively. Non-insulin-based drugs work in conjunction with other mechanisms of action to lower blood sugar levels and maintain them for optimal glycemic control. For example, some preparations increase insulin secretion in pancreatic cells (sulfonyl urea), some preparations increase glucose uptake by peripherals, reduce hepatic glucose output (biguanides), and some preparations intestine (alpha glucosidase). Inhibitors) slows the digestion of starch. Medication blocks certain enzymes (Incretin mimetics) to reduce sugar after meals.
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Key Findings of the Report:
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- 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
- 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
- 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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