Global Oral Antidiabetic Drugs Market – Industry Trends and Forecast to 2029

Oral Antidiabetic Drugs Market Analysis and Size

The global oral antidiabetic drugs market is expected to witness significant growth during the forecast period. Increasing cases of type 2 diabetes boosts the oral antidiabetic drugs market. The adaptation of unhealthy lifestyle, environment pollution and family history with diabetes disease also boost up the oral antidiabetic drugs market growth. Many major market players are contributing a lot in drug discovery and development. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the global oral antidiabetic drugs market in the forecast period 2022-2029. The expected CAGR of global oral antidiabetic drugs market is tend to be around 3% in the mentioned forecast period. The market was valued at USD 45 billion in 2021, and it would grow upto USD 57 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Diabetes is a type of disease with high glucose level in the blood resulting deficiency of insulin in the body. Drugs which are used for the treatment of diabetes called as antidiabetic drugs. It reduces blood glucose level by activation of glycogen phosphorylase, and gluconeogenic enzymes, revealed decreased rates of glycogenolysis and gluconeogenesis. It is of great importance to the healthcare sector and thus is expected to rise high in the forecast period.

Report Scope and Market Segmentation

Global Oral Antidiabetic Drugs Market Dynamics

Drivers

• Rising Incidence of Diabetes

The adult diabetes population in 2021 was approximately 537 million, and this number is going to rise high to 643 million in 2030. There are several factors such as obesity, unhealthy diet, and physical inactivity because of which the rate of newly diagnosed cases of Type 1 and Type 2 diabetes is seen to increase. Thus, this boosts the market growth.

Opportunities

• Increasing Demand for Retail Pharmacies

Rise in the number of open angle glaucoma therapeutics being delivered through these retail pharmacies and increase in the number of retail pharmacies in highly develped countries create opportunities for the market growth. Additionally, patients prefer retail pharmacies for purchasing drugs, as these are easily accessible.

• Increasing Demand for Metformin

Among all the other drugs, metformin is still the most prescribed oral antidiabetic medication globally with a prescription rate of 45–50% of all prescriptions and also taken by over 150 million people each year. There are some long-term positive experiences with the use of metformin which are strong evidence of clinical efficacy, safety, low cost, general availability, high adherence rate, and cost-effectiveness. Thus, it creates opportunity for the market growth.

Restraints/Challenges

• Side Effects of Oral Antidiabetes drugs

There are various side effects that are associated with the use of oral antidiabetes drugs such as nausea, gas, bloating, diarrhea, b12 deficiency, and an upset stomach. This creates hindrance for the market.

• High Cost

The huge expenditure of the treatment methods surely hamper the market growth.

This global oral antidiabetic drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global oral antidiabetic drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Oral Antidiabetic Drugs Market

The incidence of diabetes in people hospitalized with COVID-19 infection and the physicians' understanding that improved glycemic control might improve outcomes and reduce the hospital stay in patients with COVID-19 have truly underlined the importance of the oral anti-diabetic drugs market. People with diabetes tend to have a weaker immune system, in this regard, the COVID-19 complication exaggerates the condition, and the immune system gets weaker. Thus, COVID-19 surely increased the oral antidiabetic drugs market.

Global Oral Antidiabetic Drugs Market Scope

The global oral antidiabetic drugs market is segmented on the basis of drug class, distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Drug Class

• Biguanides
• Thiazolidinediones
• Dipeptidyl Peptidase IV Inhibitors, α-Glucosidase Inhibitors
• Insulin Secretagogues
• Amylin Analog,
• Sodium-Glucose Cotransporter-2 (SGLT2) Inhibitors
• Glucagon-Like Peptide-1 Receptor Agonists
• Others

End-Users

• Hospitals
• Homecare
• Speciality Centres
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Oral Antidiabetic Drugs Market Regional Analysis/Insights

The global oral antidiabetic drugs market is analysed and market size insights and trends are provided by drug class, distribution channel and end-user as referenced above.

The major countries covered in the global oral antidiabetic drugs market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is expected to have the highest market growth due to rapidly increasing smoking & obesity population and presence of key manufacture of the product.

Asia-Pacific dominates the market due to enhanced prevalence of diabetes and related disorders and number of generic drugs.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Oral Antidiabetic Drugs Market Share Analysis

The global oral antidiabetic drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global oral antidiabetic drugs market.

Key players operating in the global oral antidiabetic drugs market include:

• Pfizer Inc (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• Mylan N.V. (U.S.)
• Fresenius Kabi AG (Germany)
• Novartis AG (Switzerland)
• Teva Pharmaceutical Industries Ltd. (Israel)
• Bristol Myers Squibb Company (U.S.)
• GSK Plc. (U.S.)
• Bayer AG (Germany)

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