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Antidiabetics Market size was valued over USD 49.5 billion in 2016 and is expected to witness more than 10.5% CAGR from 2017 to 2024.<br><br>Get more details @ https://goo.gl/UNqMWV
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KeyInsights from Antidiabetics Market : • U.S. antidiabetics market size valued over USD 19.4 billion in 2016 and expected to grow significantly over the coming years. Increased healthcare expenditure along with availability of improved healthcare infrastructure and favorable reimbursement policies should drive antidiabetics market size. • UK contributed for significant revenue share in 2016. The growth is attributed due to wide range of funds offered by Diabetes UK for research related to the treatment of diabetes and its complications. In November 2016, the Prime Minister introduced new Diabetes UK office on World Diabetes Day. • Japan antidiabetics market should grow at significant rate over the forecast period. Diabetic population is on rise due to lifestyle changes that will accompany economic growth and drive antidiabetic market growth. The Japan Diabetes Society (JDS) encourage progress and development of diabetes study and prevent people from disease in the country.
Continued... • Brazil contributed for significant revenue share. The growth is attributed due to early adoption of insulin analogues and increased use of these products in the country. • Some of the companies operating in antidiabetics market include Eli Lilly, Pfizer, Novo Nordisk, Takeda Pharmaceuticals, Sanofi Aventis, Merck, Boehringer Ingelheim and Oramed Pharmaceuticals. • Advent of new technologies in products like long acting insulin analogs as well as rapid acting with increased effectiveness should drive industry growth over the forecast timeframe. The novel insulin pen technology permits low-pain and suitable daily insulin injection that should upsurge therapy sales. Type 2 diabetes mellitus (T2DM) has strong familial aggregation, the person with a parent or sibling with disease are at high risk. People with obesity, hypertension, or dyslipidemia and women with history of gestational diabetes are also at high risk to develop T2DM.
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360° Analysis • Application Trends • Type II diabetes market was leading the revenue share in 2016 and should show a similar trend over the forecast years. Presence of large patient pool suffering from type II diabetes owing to adoption of lifestyle changes coupled with increased resistance to insulin will boost demand for antidiabetic drugs in the future. Type I diabetes will hold a smaller share as compared to the former but is expected to witness significant growth rate during the forecast timeframe. • Regional Trends • U.S. antidiabetics market accounted for largest regional share in 2016 owing to high prevalence of diabetes in the country. Rising geriatric population, adoption of sedentary lifestyle, increasing cases of obesity, lack of physical activity are the major risk factors for the increasing diabetes prevalence contributing to rise in demand for insulin and other anti-diabetic products over the coming few years. • Competitive Market Share • Some of the major players dominating global antidiabetics market are Novo Nordisk, Eli Lilly and Sanofi. Extensive product portfolio and rising R&D investment for producing innovative and pipeline products are the major strategies adopted by these players to maintain their market share. Other active players in the market include Takeda Pharmaceuticals, Merck, Boehringer Ingelheim and Bristol-Myers Squibb.
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