Sarasota, FL, Jan. 12, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Oral Antidiabetic Drug Market by Drug Category (Sulfonylureas, Meglitinides, Biguanides and Alpha-glucosidase inhibitors) for Type 2 Diabetes mellitus - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022” . According to the report, the global oral antidiabetic drug market accounted for USD 19.94 billion in 2016 and is expected to reach USD 35.91 billion by 2022, growing at a CAGR of around 10.2% between 2017 and 2022.
Diabetes mellitus is a group of a metabolic disorder caused when the body is unable to produce required quantity of Insulin. Insulin is a hormone secreted by beta cells of the islet of Langerhans of the pancreas. Various symptoms associated with diabetes disorder include recurrent urination, increased thirst, and hunger. Diabetes can cause much chronic complication if left untreated. Some of them include acute complications like diabetic ketoacidosis, chronic kidney failure, foot ulcers, and damage to the eyes. Life-threatening disorders include necrosis, heart failure or death. According to WHO, in 2014 the number of people affected with diabetes are 422 million across the globe.
Browse through 14 Market Tables and 35 Figures spread through 110 Pages and in-depth TOC on “Global Oral Antidiabetic Drugs Market: Type, Size, Share, Trends, Review, Analysis, Segment and Forecast 2016 – 2022”.
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The global oral anti-diabetic drug market is expected to witness significant growth during the forecast period. This growth is attributed due to increasing prevalence of diabetes and rising demand for oral anti-diabetic drugs. In addition, sedentary lifestyle, increasing the percentage of obesity, high-stress levels are considered as a major driving factor for the growth of oral anti-diabetic drugs market. Furthermore, technological advancement and medical reimbursements can also help in fuelling the growth of oral antidiabetic drug market. However, the high cost of drugs is considered as a major restraint for the market. Nonetheless ongoing research and huge market potential can bring growth opportunities for oral anti-diabetic market within the forecast period.
Based on the class of drug, the global oral anti-diabetic drug market is segmented into five types: sulfonylureas, meglitinides, biguanides, alpha-glucosidase inhibitors and others. Sulphonylureas segment of oral anti-diabetic drugs market accounted for the largest market share in 2016 followed by biguanides derivatives. Sulfonylureas were the largest segment and acquired around 37% of world market share followed by biguanide derivatives in 2016. Sulfonylureas are a class of organic compounds used in medicine and agriculture. They are antidiabetic drugs widely used in the management of type 2 diabetes mellitus. They act by increasing insulin release from the beta cells in the pancreas.
Browse the full " Oral Antidiabetic Drugs Market by Drugs Class Category (Sulfonylureas, Meglitinides, Biguanides and Alpha-glucosidase inhibitors) for Type 2 Diabetes mellitus - Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 – 2022” report at https://www.zionmarketresearch.com/report/ora...ugs-market
In terms of revenue, North America held the largest share which accounted for about 37% of the global oral anti-diabetic drug market in 2016 and is set to continue to dominate the world oral anti-diabetic drug market place in the forecast period. This growth is mainly attributed to the high prevalence of diabetes, technological advancement and government support in this region for controlling type 2 diabetes. The rising numbers of pharmaceutical companies coupled with advanced technology are some of the key factors that are expected to fuel the growth of market in this region.
Europe was holding second largest shares of the global oral anti-diabetic drug market in terms of revenue. Europe acquires approximately 30% of world oral anti-diabetic market share followed by Asia Pacific. European countries like Germany, France, and Italy are the major market for oral anti-diabetic drug. The prevalence of type 2 diabetes is rising in all European countries, particularly in Scandinavia and the UK.
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Asia-Pacific will be the fastest-growing market for oral anti-diabetic drug market during forecast periods. Furthermore, Asia-Pacific countries are considered to be the profitable ones for investors to invest in for manufacturing and clinical activities of pipeline and existing oral anti-diabetic drug products. Major players enter the Asian market with the purpose to work together with various CMO and CRO existing in this region that fosters the development of oral anti-diabetic drug at lower cost.
The demand for oral anti-diabetic drug in Asia pacific market is anticipated to grow at a CAGR of 11.3% in term of consumption. Growth of this region is attributed due to increasing awareness and the government ambitions towards healthcare infrastructure. Increasing aging population is another key factor contributing to the growth of oral antidiabetic drugs in Asia Pacific. Asia-Pacific oral antidiabetic drugs market was valued at USD 4.58 billion in 2016 and is expected to reach USD 8.65 billion by the end of 2022.
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The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global oral antidiabetic drug market include Eli Lilly, Abbott, Biocon, Sanofi, Sunpharma, Novartis, Novo Nordisk, Merck and Pfizer.
This report segments the global oral antidiabetic drug Market as follows: Global Oral Antidiabetic Drug Market: Drug Class Analysis
- Sulfonylureas
- Glimepiride
- Gliclazide
- Glyburide
- Others
- Meglitinides
- Repaglinide
- Nateglinide
- Biguanides
- Metformin
- Others
- Alpha-glucosidase inhibitors
- Acarbose
- Voglibose
- Others
- Others
Global Oral Antidiabetic Drug Market: Regional Segment Analysis
- North America
- S.
- Canada
- Europe
- Asia Pacific
- China
- Japan
- Rest of Asia Pacific
- Latin America
- Brazil
- The Middle East and Africa
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