Global Diabetes Drug Market will be US$ 78.10 Billion by 2026
According to the latest report by Renub Research, titled "Diabetes Drug Market Global & Forecast By Disease, Oral Therapy, Injection, Insulin, Regions, Company" Diabetes drugs are used to control blood glucose level in Type 1 and Type 2 diabetic patients. These medicines are given to treat diabetes mellitus by various drugs like Insulin, Sulphonylureas, and Metformin. Around the world market for diabetes, drugs are growing continuously at a much higher rate. According to Renub Research analysis, the Global Diabetes Drug Market is forecasted to be US$ 78.10 Billion by the end of the year 2026.
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The major growth factors for diabetes drug market are growing prevalence of diabetes in most of the countries, growth in ageing population, adoption of a sedentary lifestyle, the growing adoption of diabetes drugs in the regions of the Asia Pacific and European Union, such as China, Japan, India, United Kingdom, Spain, Germany, France. The growths of new drugs like Dapagliflozin, Canagliflozin, are growing as research and development for diabetes drugs by healthcare companies such as Eli Lilly, Johnson & Johnson, Novo Nordisk, Merck & Co, and AstraZeneca.
The market is also growing due to initiatives of various governments across the world, raising awareness among diabetes patients, increasing disposable income, growth in healthcare expenditure across the globe. Major healthcare companies are working in the field of diabetes drugs with collaboration among companies, acquisition, expansion and partnership to develop new health care product are also boosting the market.
Diabetes drugs come in various forms such as Oral (Alpha Glucosidase Inhibitor, (DPP) IV inhibitor, Biguanide, SGLT-2 and Others Oral Drug), Injection (Amylin receptor agonist, Glucagon-like peptide (GLP) 1 agonist), Insulin (Long-Acting Insulin, Rapid – Acting Insulin, Premixed Insulin and Other Insulin)
Diabetes drugs come in various forms to treat type 2 diabetes such as Actos, Metformin, Avandia, Invokana and Lantus subcutaneous. All drugs are taken orally except insulin, which is delivered through devices such as insulin pen, intravenous sets, infusion pump, insulin syringe, and jet injectors. Different types of insulin are used for the treatment of diabetes patients such as rapid-acting, short-acting, intermediate-acting and long-acting.
According to WHO stats, the number of diabetes patients has risen to 422 Million in the year 2014 from 108 Million in the year 1980. The prevalence of diabetes patients for adults aging more than 18 years was 4.7 percent in the year 1980, which has risen to 8.5 percent in the year 2014. Initially, diabetes was limited to only a small region of the world; now, it has been growing in middle and low-income countries at a faster pace. This disease leads to several life-threatening diseases such as heart attacks, stroke, kidney failure, blindness, and lower limb amputation. This disease was the reason for 1.6 Million deaths in the year 2016. Diabetes was the 7th leading reason for death in the year 2016.
COVID-19 impact on Diabetes Drug Market
Most of the countries are affected by the COVID-19 pandemic, the healthcare system and economic activities are disturbed by lockdown imposed by governments. Currently, the treatment of COVID-19 is the priority of healthcare department, and hospitals have stopped treatment of other diseases as beds are reserved for COVID-19 patients. Diabetes patients have to depend on medicines prescribed by doctors, and governments are investing heavily in their healthcare systems. This will also help in research and development of diabetes drugs which is propelled by massive investment in the pharma industry.
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Market Summary:
By Disease: This research report has covered the market of Type 1, Type 2 diabetes, according to Renub Research analysis.
Oral Therapy: The market for following Oral Therapies is covered in this report, such as Biguanide, SGLT-2, Alpha Glucosidase Inhibitor, (DPP) IV Inhibitor, and Others Oral Drug.
By Injection: This report gives the market for following injection Glucagon-like peptide (GLP) 1 agonist, Amylin receptor against
By Insulin: The market for following insulin types are covered in the research report: Rapid – Acting Insulin, Long Acting Insulin, Premixed Insulin, and Other Insulin.
By Regions: The following regions are covered in the research report Japan, India, United States, 5European Union, Canada, China, and Brazil.
By Company: Overview, R&D Pipeline and Sales Analysis of Novo Nordisk, Merck & Co, Eli Lilly, AstraZeneca, Johnson & Johnson are given in the research report.
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