Albany, NY -- (SBWIRE) -- 06/14/2018 -- Global Diabetes Drugs Market: Overview
Diabetes is a chronic disease that occurs if sufficient insulin (blood sugar regulating hormone) is not produced by the beta cells in the pancreas (an organ that lies near the stomach) or alternatively, if the insulin is produced, but the body is not effectively able to utilize it.
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This causes sugars to build up in the blood. The overall deaths of people with diabetes is almost double the risk of people without diabetes. Diabetes can cause a nerve damage, blindness, kidney disease, stroke, heart attack, and other serious health problems. The symptoms of diabetes include more infections than usual, sores that are slow to heal, very dry skin, feeling very tired much of the time, tingling or numbness in hands or feet, sudden vision changes, extreme hunger, unexplained weight loss, excessive thirst, and frequent urination. Diabetes is detected by a simple blood test that is used to diagnose the glucose level in the blood.
Demand for Type 2 Diabetes to Lead Global Diabetes Drugs Market
In terms of disease type, the market is segmented into type 1 diabetes, type 2 diabetes, gestational diabetes, and impaired glucose tolerance and impaired fasting glycaemia. In terms of disease type, the diabetes drugs market has been segmented into type 1 diabetes, type 2 diabetes, gestational diabetes, and impaired glucose tolerance and impaired fasting glycaemia. The research report states that the Type 2 diabetes holds a leading share in the global market due to its higher prevalence.
Accelerated pace of obesity amongst urban dwellers, improving access to healthcare, and rising disposable income are all expected to make positive impact on this segment. Sedentary lifestyle characterized by poor dietary habits is expected to spike the diagnostic rate of Type 2 diabetes. Meanwhile, Type 1 diabetes is expected to be the second leading segment. Gestational diabetes and impaired glucose tolerance and impaired fasting glycaemia are projected to grow during at a steady pace as well due to changing genetics.
Hospital Pharmacies to Remain Key Distributors of Drugs
The diabetes drugs market is classified on the basis of therapy type, disease type, distribution channels, and region. Based on the therapy type, the market is divided into glucagon-like peptide-1 (GLP-1) agonist, Dipeptidyl-peptidase-4 (DPP-4) inhibitors, sodium glucose co-transporter 2 (SGLT2) inhibitors, Insulin and others. Based on distribution channel, the market has been categorized into hospital pharmacies, retail pharmacies, and online pharmacies.
Out of these distribution channels, hospitals pharmacies held a leading share in the global market due to availability of trained staff to sell medicines. Analysts expect that online pharmacies are also expected to show remarkable progress in the near future due to emergence of e-commerce and growing number of tech-savvy consumers.
North America to Leading Consumer of Diabetes Drugs
Geographically, the diabetes drugs market has been segmented into 5 major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for the highest revenue in 2016, due to high prevalence of diabetes in the region. Europe is anticipated to hold second large market share in 2016 owing to increasing investment in research & development and promising pipeline of diabetes drugs in Europe.
Asia Pacific is expected to grow fast, owing to the increasing awareness and promotion in the region. Middle East & Africa is anticipated to grow during the forecast period due to increasing prevalence of diabetes and growing disposable income especially in Middle East countries in the region. Latin America is expected to grow during the forecast period owing to overdependence of physicians and patients on insulin.
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Key companies profiled in the report include Novo Nordisk A/S, Merck & Co., Inc., Novartis AG, Boehringer Ingelheim GmbH, Sanofi, Bayer AG, Johnson & Johnson, Eli Lilly and Company, and Takeda Pharmaceutical Company Limited.
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