Pune, India, Feb. 01, 2022 (GLOBE NEWSWIRE) -- The global diabetes drugs market derives growth from advancements in drug delivery systems. According to a report published by Fortune Business Insights, titled “Diabetes Drugs: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 48,753.1 Mn in 2018. Fortune Business Insights has predicted that the market will be valued at US$ 78,261.7 Mn by the end of 2026, thereby exhibiting a CAGR of 6.1%.
Availability of Low-Cost Insulin to Boost the Market
Insulin is one of the most widely used drugs for the treatment of diabetes. The exceptional properties and clinical efficacy of insulin have led to a rising uptake. Despite high efficacy, the cost associated with insulin has been a barrier towards the growth of insulin. Considering this factor, many companies are exploring potential ways to the reduced cost associated with insulin for management of diabetes. In 2019, Eli Lilly and Company, launched a new insulin drug, that was almost half the price of its previous brands. Eli Lilly announced the low-cost insulin ‘Lispro’, a product that was priced significantly less than its previous Humalog injection.
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Encouraged by High Demand, Glenmark Extends Insulin Sales in India
In 2019, Glenmark Pharmaceuticals announced that it plans to bring its Remogliflozin Etabonate to India. The high demand for diabetes drugs in India has influenced Glenmark’s latest move. Additionally, a huge diabetic patient pool has also contributed to the high demand for diabetes drugs in India. Such competitor moves have aided the growth of the global diabetes drugs market. The report includes company activities, similar to the aforementioned case. The report includes detailed analysis of company activities such as takeovers, mergers and acquisitions, agreements, and investment.
Increasing Drug Approvals Have a Positive Impact on Overall Market
The high prevalence of diabetes on a global scale has paved way for several clinical trials. Increasing drug approvals have aided the growth of the global diabetes drugs market. Novo Nordisk’s 2018 launch of Ozempic and Fiasp is a perfect example of the aforementioned case. Additionally, the company received approval from the Food and Drug Administration and this has aided the business expansion of Novo Nordisk. The company’s latest drug approvals will bode well for the global diabetes market and is likely to enable growth of the market in the coming years.
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Fortune Business Insights has summarized the impact of several companies on the global diabetes drugs market. Furthermore, Fortune Business Insights has labelled out leading companies that have made significant contributions to the growth of the global diabetes drugs market.
Diabetes Drugs Top Companies Analyzed in the report:
- Johnson & Johnson
- Bayer Pharmaceuticals
- Novo Nordisk
- Eli Lilly and Company
- Takeda Pharmaceutical Company Limited
- Boehringer Ingelheim
Major Table of Contents:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Diabetes - For Key Countries, 2018
- Pipeline Analysis
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Introduction of New Drugs/ Approvals (by major players)
- Overview of Regulatory Scenario of Key Countries/ Regions
- Global Diabetes Drugs Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights, and Forecast – By Drug Class
- DPP-4 Inhibitors
- GLP-1 Receptor Agonists
- SGLT2 Inhibitors
- Market Analysis, Insights, and Forecast – By Diabetes Type
- Diabetes 1
- Diabetes 2
- Market Analysis, Insights, and Forecast – By Route of Administration
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