Increasing geriatric population, wide-ranging health insurance policies covering diabetes, complexities in alternative diabetic therapies and CDC (Centers for Disease Control) and others, such as the Diabetes Prevention and Control Alliance, are testing various marketing strategies to enhance program participation are also promoting the usage of antidiabetic drugs market
Global Antidiabetic Drugs Market 2024
According to Goldstein Research, antidiabetic drugs market size is set to reach USD 106.5 billion by 2024, at a CAGR of 10.12% over the forecast years and valued USD 51.2 billion in 2016 owing to rising prevalence of obesity and diabetes along with penetration of insulin analogs.
Geographically, North America accounted for about 35% of antidiabetic drugs market share in 2016 owing to presence of favorable government initiatives and the introduction of new products for oral antidiabetic while APAC tends to dominate the market in forecast period owing to prevalence of diabetes and increasing ageing population.
Standard Prescription: Generic Medicines
Cheaper generic drug is always the standard advice for the patients. Cheaper generics or bio-similar drugs, enter the market when a patent for the branded drug expires, in addition, they are important force behind lowering the healthcare costs and allowing the medicines to reach wider and more diverse patient populations. Generic drugs lower the prices by 60% or more as a result brand name manufacturers lose almost 80% of their market share.
Global antidiabetic drugs market report contains a detailed overview of the global antidiabetic drugs market in terms of market segmentation by drug class, mode of administration, diabetes type and drug type.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global antidiabetic drugs market report also provides competitive outlook for some of the major players which includes profiling of companies such as Zydus Cadila, Actavis, Alphapharm, Andromeda Biotech, Arisaph, Astellas Pharma, AstraZeneca, Bayer, Biocon, Blue Cross, Bristol-Myers Squibb, Biogen Idec, Boehringer Ingelheim, Boston Therapeutics, Eli Lilly, Franco-Indian Pharmaceuticals, Furiex Pharmaceuticals, Genentech, Generex Biotechnology Corporation, GlaxoSmithKline (GSK), Johnson & Johnson (J&J), Lupin, Merck & Co., Mylan, Novartis, Novo Nordisk, Pfizer, Ranbaxy Laboratories, Roche, Sanofi, Sun Pharma, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global antidiabetic drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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