Allied Market Research published a report, titled, "Diabetes Therapeutics Market by Product (Injectables, Oral antidiabetic Drugs): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global diabetes therapeutics industry was estimated at $1,258 billion in 2020, and is anticipated to hit $3,390 billion by 2030, registering a CAGR of 10.4% from 2021 to 2030.
Diabetes therapeutic is a drug used by diabetic patients to restore the blood glucose metabolism to a normal state. It includes insulin analogues and oral hypoglycemic agents.
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Covid-19 scenario-
The majority of the hospitals across the world were converted into Covid-19 centers, owing to which the diabetic patients faced delays in treatments, thus impacting the global diabetes therapeutics market negatively, especially during the initial period.
Rapid vaccination drive across the world has assuaged the global situation, since it has started getting back to normalcy. With this drift on board, the market for diabetes therapeutics is also expected to recoup soon.
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Key players in the industry-
Boehringer Ingelheim GmbH
Glaxosmithkline Plc.
Merck & Co., Inc.
Astrazeneca Plc.
Novo Nordisk
Sanofi S.A.
Takeda Pharmaceutical Company Limited.
Eli Lilly and Company
Novartis Ag
Johnson & Johnson
The injectables segment to dominate by 2030-
Based on product, the injectables segment held nearly three-fourths of the global diabetes therapeutics market revenue in 2020, and is expected to lead the trail by 2030. The same segment would also manifest the fastest CAGR of 10.6% from 2021 to 2030, owing to rise in the prevalence of diabetes among individuals across the world.
North America garnered the major share in 2020-
Based on region, Asia-Pacific, followed by North America, held the major share in 2020, generating more than one-third of the global diabetes therapeutics market. Rise in the prevalence of diabetes, sedentary lifestyle, and well-established healthcare infrastructure in the province propel the market growth. The Asia-Pacific region, however, would grow at the fastest CAGR of 11.2% by 2030, due to increase in number of geriatric population and surge in the incidence of diabetes among them.
KEY FINDINGS OF THE STUDY
On the basis of products, the injectables segment was the highest contributor in 2020.
Region wise, North America garnered the largest revenue share in 2020, whereas Asia is anticipated to grow at the highest CAGR during the forecast period.
𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:
Healthcare Interoperability Solutions Market--
https://www.alliedmarketresearch.com/healthcare-interoperability-solutions-market-A07075
Diabetes Therapeutics Market
https://www.alliedmarketresearch.com/diabetes-therapeutics-market
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