Diabetes is group of metabolic disorder, often referred as Diabetes Mellitus, results in high blood glucose levels. Body cells use glucose as a source of energy and insulin is important for the cells to absorb this glucose. When the body cells loose the capacity to respond to the insulin or body is not capable of producing sufficient insulin, it leads to an increase in blood glucose levels in the body. This condition is referred to as diabetes. Depending on the cause of development, it is divided into three types, which includes type 1 diabetes (body loses the capacity of producing sufficient insulin), type 2 diabetes (most common and body cells do not respond to insulin) and gestational diabetes (occurs in pregnant women). Among these, type 2 diabetes is the most common type and affects over 90% of the global diabetic patients.
According to the International Diabetes Federation (IDF), the number of diabetic patients reached 415 million in 2015 globally and is expected to reach around 642 million by 2040. According to the IDF, global healthcare expenditures to treat diabetes and its complications was USD 673 billion in 2015, representing 12% of total global healthcare expenditures and is expected to exceed USD 802 billion by 2040.
The global diabetes drug therapy market includes a wide range of drug therapies used by healthcare professionals and patients to treat their blood glucose levels. The key drivers of this market growth include growing number of diabetes population, rise in base of geriatric population, large number of drugs under pipeline and launch of new generation of products for the treatment. Growing demand from emerging markets and supportive government initiatives are also been among foremost factors driving demand of diabetes drugs market. The global market for diabetes drug therapy was valued at USD 44.3 billion in 2015 and is expected to reach around USD 75.6 billion by 2022, growing at a CAGR of 8.0% during the forecast period of 2016 to 2022.
Geographically, North America is leading contributor to the market and is expected to retain its position during the forecast period. Nonetheless, the market for Asia-Pacific region is expected to grow at a fastest rate owing to increasing prevalence diabetes, growing awareness among the population, increasing adoption of new technologies, large number of players entering into this market, improving healthcare infrastructure, rise in healthcare spending, and favorable government policies.
The report delivers a strategic analysis of the market for diabetic drugs and growth forecast for the period from 2016 – 2022. The scope of the report includes competitive analysis of various market players who are operating in the market, and segmental analysis. It also covers geographical analysis of the market with growth forecast for the period of 2016 – 2022. The Porter’s Five Forces analysis and value chain analysis included in the report provides an insight into market dynamics and industry competition.
The study also provides information for recent merger and acquisition deals happened in the diabetes drug therapy market. Moreover, the report also includes growth strategies and entry barriers to be considered to cater to the exact business opportunities in this market. Additionally, to aid in strategic decision making, the report also includes competitive profiling of leading players, recent developments in the industry and various business strategies adopted by them. This report will help players in diabetes drug therapy market to plan and implement their strategies in different market areas such as emerging geographies, and new technologies.
Access DIABETES DRUG THERAPY Market report https://www.infiniumglobalresearch.com/reports/country-reports/diabetes-drug-therapy-market
• Novo Nordisk
• Mannkind Corporation
• Bristol Myers Squibb
• Eli Lilly and Company
• Novartis International AG
• Abbott Laboratories
• Medtronic, Inc.