PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1400979
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1400979
Asia Pacific Diabetes Therapeutics Market size was valued at USD 23,545 Million in 2022, expanding at a CAGR of 2.6% from 2023 to 2030.
Medications used to treat diabetes are known as diabetic therapies. They consist of oral anti-diabetic medications (OAD) and human insulin analogs. Diabetes is a long-term metabolic illness that is typified by high blood glucose levels that seriously harm the heart, blood vessels, kidneys, eyes, nerves, and heart.
Diabetes Therapeutics Market- Market Dynamics
Growing concerns over sugar diet and diabetic patients is expected to propel market demand
Rise in sugar consumption raises the risk of diabetes. The market for diabetes diagnostics is also driven by improvements in diabetes diagnosis tools, such as portable glucometers. People with diabetes primarily use glucometers, which are compact, portable devices for measuring blood glucose levels. Diabetes prevalence rising, sedentary lifestyles becoming more common, and other chronic diseases like hypertension becoming more common. For example, according to the National Institutes of Health, Asia is home to almost 60% of the world's diabetic population, with China and India accounting for about half of that number. More than 138.2 million people worldwide-the most populated area in the world-have diabetes, and by 2035, that figure might reach 201.8 million.
Diabetes Therapeutics Market- Key Insights
As per the analysis shared by our research analyst, the Asia Pacific market is estimated to grow annually at a CAGR of around 2.6% over the forecast period (2023-2030)
Based on Diabetes Type segmentation, Type 2 segment was predicted to show maximum market share in the year 2022, Type 2 diabetes develops when the body develops insulin resistance or fails to produce enough insulin.
Based on Drug Type segmentation, insulin was the leading market in 2022, due to increasing support from FDA for developing insulin drugs in diabetes therapeutics.
Based on Route of Administration segmentation, oral was the leading market in 2022, due to increasing demand from oral antidiabetic drugs.
On the basis of country, India was the leading revenue generator in 2022 mainly due to the growing prevalence of diabetes diseases.
The Asia Pacific Diabetes Therapeutics Market is segmented on the basis of Diabetes Type, Drug Type, Route of Administration, and Region.
The market is divided into three categories based on Diabetes Type: Type 1, and Type 2. The type 2 segment dominates the market. The type 2 diabetes develops when body fails to develop enough insulin for cure.
The market is divided into two categories based on Drug Type: Insulin, DPP- 4 Inhibitors, GLP-1 Receptor Agonists, and SGLT2 Inhibitors. The Insulin dominates the market and is likely to maintain its dominance during the forecast period. Technological advancement, increased sales of novel medicines is expected to boost the segmental growth.
The market is divided into five categories based on Route of Administration: pre-surgical procedures, post-surgical procedures, kidney dialysis, diagnostic tests, and others. The pre-surgical procedures segment dominates the market and is likely to maintain its dominance during the forecast period. The growing demand for Diabetes Therapeutics for pre-surgical treatment in chemical industries is mainly boosting the market growth.
Diabetes Therapeutics Market- Country Insights
Country wise, this market is widespread into India, China, South Korea, Japan, Australia, Thailand, Indonesia, Philippines, Malaysia, Taiwan, Vietnam, Hong Kong, New Zealand, Singapore, Myanmar, and the rest of the Asia-Pacific (APAC) region.
Diabetes is mainly accountable for 284,049 deaths every year. With the rise in the diabetic population, technological advancements, and rising adoption rates in developing countries, the global market is robust for diabetes therapeutics. Major players in the market include Sanofi, Novartis, Takeda Pharmaceutical Company Limited, etc. In addition, market player engaging in developing new advanced glucose monitoring devices for diagnosis of diabetes, contributing to market growth.
In February 2022, Ascensia Diabetes Care, a global diabetes care company, received FDA approval for its implantable, next-generation Eversense E3 for continuous glucose monitoring (CGM) system.
The scope of this report covers the market by its major segments, which include as follows:
ASIA PACIFIC DIABETES THERAPEUTICS MARKET KEY PLAYERS
Sanofi
Novartis AG
Astellas
AstraZeneca
Boehringer Ingelheim
Bristol Myers Squibb
Eli Lilly and Company
Gan and Lee
Janssen Pharmaceuticals
Merck and Co
Pfizer Inc.
GSK
Others
ASIA PACIFIC DIABETES THERAPEUTICS MARKET, BY DIABETES TYPE
Type 1
Type 2
ASIA PACIFIC DIABETES THERAPEUTICS MARKET, BY DRUG TYPE
Insulin
DPP- 4 Inhibitors
GLP-1 Receptor Agonists
SGLT2 Inhibitors
ASIA PACIFIC DIABETES THERAPEUTICS MARKET, BY ROUTE OF ADMINISTRATION
Oral
Subcutaneous
Intravenous
ASIA PACIFIC DIABETES THERAPEUTICS MARKET, BY REGION
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Malaysia
Taiwan
Vietnam
Hong Kong
New Zealand
Singapore
Myanmar
Rest of APAC