This market research study presents a detailed segmentation of the global type 2 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.
Technavio’s market research analysts estimate the global type 2 diabetes drugs market to grow at a CAGR of more than 7% between 2016 and 2020. Type 2 diabetes accounts for around 90% of the total number of diabetes cases across the globe. The demand for drugs with superior efficacy and safety profiles, with reduced side effects, is increasing among type 2 diabetic patients. Also, the market is witnessing the increased penetration of recently approved drugs. The Americas dominates the global type 2 diabetes drugs market, and occupies around 58% of the total market share. The US is the largest revenue contributor to the region because of the growing prevalence of type 2 diabetes and obesity in this region.
The new market research report from Technavio provides a breakdown and analysis of the type 2 diabetes segments by technology.
“The increasing awareness of type 2 diabetes is compelling lots of people to opt for respective treatments. 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. 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,” says Barath Palada, Lead Analyst, Pharma, Technavio Research
The insulin drugs leads the type 2 diabetes drugs market and is 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
Source: Technavio, 2016
The leading vendors in the global type 2 diabetes drugs market are Novo Nordisk, Sanofi, Merck, Eli Lily, and AstraZeneca. This 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.
A more detailed analysis is available in the Technavio report, Global Type 2 Diabetes Drugs Market 2016-2020.
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