Oral Anti-diabetes Drugs Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025
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Diabetes is a chronic disease that occurs when the body cannot effectively use the produced insulin or the pancreas does not produce sufficient insulin. The pancreas is an organ that sits behind the stomach and releases hormones into the digestive system.
Diabetes is categorized by increased levels of blood glucose, which can cause severe damage to blood vessels, heart, kidneys, nerves, and eyes.
Diabetes is also called hyperglycemia or raised blood sugar.
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Continuous increase in blood sugar leads to diabetes. Uncontrollable diabetes can damage the nervous system and other body systems.
Diabetes is of two types: type 1 and type 2. Type 1 diabetes, also known as juvenile diabetes or insulin-dependent diabetes, arises when the immune system misguidedly attacks and kills the beta cells of the pancreas.
In type 1 diabetes, little or no insulin is released into the body, owing to this sugar builds up in the blood instead of being used as energy. Type 1 diabetes is rare, and only 10% of people with diabetes have type 1 diabetes.
It commonly occurs in childhood or adolescence. Type 2 diabetes arises when the body cannot appropriately use the insulin that is released or does not make enough insulin.
As a consequence, sugar builds up in the blood instead of being used as energy. About 90% of people with diabetes have type 2 diabetes.
Increasing obese population and changing lifestyle are the factors projected to boost market growth. Advancements in technologies and reimbursement for medicines are anticipated to fuel the growth of the oral anti-diabetes drug market in the next few years.
Moreover, rising incidence of diabetes is expected to increase demand for oral anti-diabetes drugs. However, ongoing research on diabetic treatment and high market potential are expected to create opportunities in the oral anti-diabetes market in the near future.
In terms of region, the global oral anti-diabetes drugs market has been segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global oral anti-diabetes drugs market, followed by Europe, owing to the introduction of new products and presence of favorable government initiatives for oral anti-diabetes drugs in the region.
Asia Pacific is expected to witness the fastest growth in the near future attributed to increase geriatric population in the region.
Major players operating in the global oral anti-diabetes drugs market are Eli Lilly, Abbott, Biocon, Sanofi, Sunpharma, Novartis, Novo Nordisk, Merck, GlaxoSmithKline, Piramal Healthcare, Bristol-Myers Squibb, Bayer Healthcare, Dr. Reddy’s Laboratories Ltd, and Pfizer.
Increasing competition among key players is expected to drive the global oral anti-diabetes drugs market during the forecast period.
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