Diabetes Drugs Market: Increasing Incidence of Diabetes to Drive the Demand
by Metcarl · January 16 Laurent Duvernay-Tardif Hoodie , 2019
A copious number of players operate in the global diabetes drugs market on account of entry barriers being low. This makes the landscape both fragmented and competitive. A recent report on the market published by Transparency Market Research predicts the competition to intensify further in the near term owing to the entry of more players and emphasis on product development by the existing ones. Regional expansion strategies of players via mergers and acquisitions and strategic alliances is another method by which players are growing their shares.
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Some of the current key companies operating in the global market for diabetes drugs are Boehringer Ingelheim GmbH, Novo Nordisk AS, Bayer AG, Novartis AG Kareem Hunt Hoodie , Sanofi, and Merck & Co.
As per the report, the market would likely register a CAGR of 3.6% over the course of the forecast period between 2017 and 2025 to attain a value of US$ 58.4 bn by 2025-end from US$ 43.1 bn in 2016.
Among the different type of diabetes, type 2 diabetes is at present is grossing maximum revenue in the global market for diabetes drugs. This is because of the increased occurrence of this particular category owing to the rising problem of obesity in urban pockets Patrick Mahomes Hoodie , bettering healthcare facilities and outreach, and increasing healthcare spends of people. From a geographical standpoint, North America holds a leading share because of unhealthy eating patterns and sedentary lifestyle of its people in general which has led to an alarming rise in the chronic ailment.
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The global market of diabetic drugs is on the rise owing to the spike in the number of cases of diabetes 鈥?both type 1 and type 2. As per a recent report by WHO, around 422 million people worldwide suffer from diabetes. This number is four times that of the number of people afflicted with the disease in 1980. The report observes that even though the prevalence has increased worldwide Tyreek Hill Hoodie , low- and middle-income countries are home to most of the diabetic population. While the causes of diabetes are complex and often difficult to find, obesity and lack of physical activities are known to definitely contribute to a degree.
Diabetes of any kind can result in complications in many parts of the body and also up the risk of premature death. According to findings of WHO, in 2012 it claimed around 1.5 million lives all over the world. However, with regular physical activities and healthy diet Darwin Thompson Hoodie , alongside proper medication such fallout can be prevented. Rising awareness about the same has served to boost the demand for diabetic drugs in the recent past.
Another major factor contributing to the diabetic drugs market is the emergence of more effective products every now and then, thanks to the constant efforts by manufacturers and research institutions in this direction. A noticeable trend in the market is the substantial sales of diabetic drugs through hospital pharmacies. Other distribution channels resulting in sales are retail pharmacies and online pharmacies.
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Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability Juan Thornhill Hoodie , Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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