Oral Antidiabetic Drugs Market is Estimated to Reach USD 57 Billion During the Forecast Period to 2029

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 up to 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.

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.

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.

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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)

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.

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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.

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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.

FREQUENTLY ASKED QUESTIONS

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