Sarasota, FL -- (SBWIRE) -- 11/03/2017 -- According to the report, the global oral antidiabetic drug market accounted for USD 19.94 billion in 2016 and is expected to reach USD 35.91 billion by 2022, growing at a CAGR of around 10.2% between 2017 and 2022.

Diabetes is a group of metabolic disorder characterized by the presence of high blood glucose level than normal level in an individual. The rise of blood glucose is due to inadequate insulin production, or because the body's cells do not respond properly to insulin. Diabetes is broadly characterized into two types: Insulin-dependent diabetes mellitus (type 1) and Non-insulin dependent diabetes mellitus (type 2). Various initial symptoms associated with diabetes include increasing thirst, frequent urination, fatigue, weight and muscle loss, delayed wound healing and blurred vision.

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The global rise in oral anti-diabetic drug market is mainly due to increase in the prevalence of diabetic patient across the globe. According to WHO, the number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014. This rise is continuously seen in developing countries like India and China. Moreover, the factors which are responsible for increasing numbers of the diabetic population globally include sedentary lifestyles, obesity, the rise in geriatric populations and poor healthcare services. However, a high cost of the drug is expected to restraint the growth of global oral anti-diabetic drug market. Nonetheless, huge market strength and untapped market of Asia Pacific and Africa market considered as a major opportunity for upcoming manufacturers of global oral anti-diabetic drug markets.

Based on the class of drug, the global oral anti-diabetic drug market is segmented into five types: sulfonylureas, meglitinides, biguanides, alpha-glucosidase inhibitors and others. Sulphonylureas segment of oral anti-diabetic drug market accounted for the largest market share in 2016 followed by biguanides derivatives. In 2016, Sulphonylureas accounted for about 37% share of the total oral anti-diabetic market. The growth is attributed due to the availability of low cost of drugs under this segment. A drug under this category includes glimepiride, gliclazide, glyburide and others. Whereas, Biguanides derivatives account for the second largest shares in the total oral anti-diabetic market followed by alpha-glucosidase inhibitors. Metformin is a biguanide class which is most preferred oral anti-diabetics drug currently prescribed by a physician for the treatment of Type 2 diabetes mellitus.

Key market players of oral anti-diabetic drug market include Eli Lilly, Abbott, Biocon, Sanofi, Sunpharma, Novartis, Novo Nordisk, Merck and Pfizer.

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