PUBLISHER: Allied Market Research | PRODUCT CODE: 1192997
PUBLISHER: Allied Market Research | PRODUCT CODE: 1192997
The global diabetes therapeutics market was valued at $118,063.3 million in 2020, and is projected to reach $317,915 million by 2030, registering a CAGR of 10.4% from 2021 to 2030. Diabetes is a chronic metabolic disorder in which there are abnormalities in blood glucose levels. Diabetes therapeutics are drugs used by diabetic patients to conserve the blood glucose levels in the body.
The global diabetes therapeutics market is expected to register substantial growth in the near future, owing to rise in prevalence of diabetes, high obesity, sedentary lifestyles, and other chronic conditions. For instance, according to International Diabetes Federation (IDF),Diabetes Atlas, in 2021, approximately 537 million adults (20-79 years of age) were living with diabetes. Furthermore, rise in geriatric population led to an increase in growth of diabetes therapeutics market. However, side effects caused by anti-diabetes medication hamper the market growth during the forecast period. Conversely, increase in funding for R&D activities in diabetes sector is expected to offer remunerative opportunities for market players.
The diabetes therapeutics market is segmented into product and region. By product, the market is categorized into injectables and oral-antidiabetic drugs (OAD). By region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, Taiwan, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
The key players operating in the global diabetes therapeutics market include Astrazeneca Plc., Boehringer Ingelheim GmbH, Eli Lilly and Company, Glaxosmithkline Plc., Johnson & Johnson, Merck & Co., Inc., Novartis Ag ,Novo Nordisk, Sanofi S.A., and Takeda Pharmaceutical Company Limited.
By Product
By Region