The antidiabetic market is projected to expand exponentially over the coming years owing to the rising prevalence of diabetes, increasing drug development, and high retail adoption of oral antidiabetics. Antidiabetic drugs are basically medicines which are specifically developed to stabilize and control blood glucose levels among people who are diagnosed with diabetes.
Antidiabetic drugs are generally used to manage the conditions associated diabetes. These drugs essentially help patients with their diabetes by keeping their condition under control. this effectively lowers their risk of developing any diabetes-related complications.
Diabetes patients might have to consume antidiabetic drugs for their entire lives so as to control their blood glucose levels and also to prevent hyperglycemia and hypoglycemia. This creates an immense demand for these drugs in the pharmaceutical industry, ensuring market growth.
The anti-diabetic market is segmented in terms of product, patient population, route of administration, and regional landscape.
Based on product, the antidiabetic market is classified into insulin, and drug class. The drug class segment is further classified into thiazolidinedione, SGLT-II, meglitinides, DPP-IV, GLP-I, sulphonylureas, biguanides, and alpha glucosidase inhibitors. Among these, DPP-IV segment represented over $8.0 billion revenue in 2019. DPP-IV reduces both fasting and postprandial (after food) blood glucose levels, without causing any weight gain, and is widely used for type-2 diabetic patients.
DPP-IV usually come in pill form and are consumed orally. These are either used alone or can be used in combination with other medicines related to diabetes.
With respect to patient population, the antidiabetic market is categorized into geriatric, adult, and pediatric. Pediatric segment is likely to witness growth owing to the increasing incidence of diabetes among children owing to a high consumption of carbohydrate-rich diet. This segment is projected to witness a CAGR of over 11.5% through the analysis period.
In terms of route of administration, the overall antidiabetic market is bifurcated into oral, intravenous infusion, insulin pump, insulin syringe/ insulin pen, and others. The insulin syringe/insulin pen segment represents a revenue share of more than 15.5% and is likely to witness appreciative growth over the projected time period. Ease of use of insulin pens and the flexibility of incorporating insulin injections improves diabetes control and maintains quality of life for the diabetic patients.
Additionally, a person should replace the disposable needle after using the injection of insulin, which fuels product adoption in a considerable manner. Additionally, with proper care taken, the insulin pens tend to last for many years.
From a regional frame of reference, Europe antidiabetic market is projected to witness a CAGR of over 10.7% through the analysis period. High retail adoption of oral antidiabetics, increasing drug development and consumption of novel drugs will thus lead to growth of this region.