2024 Global Empagliflozin, Dapagliflozin And Canagliflozin Market Report: Key Drivers, Size, and Leading Segments
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What Growth Rate is Predicted for the Empagliflozin, Dapagliflozin And Canagliflozin Market for 2024-2033?
The market for empagliflozin, dapagliflozin, and canagliflozin has shown steady growth in recent years. It is expected to rise from $9.41 billion in 2023 to $9.64 billion in 2024, with a CAGR of 2.4%. This growth can be linked to the increasing global prevalence of type 2 diabetes, greater awareness of the benefits of SGLT2 inhibitors, an aging population, the rise in obesity rates, and a focus on personalized medicine.
The empagliflozin, dapagliflozin, and canagliflozin market size is expected to see steady growth in the next few years, projected to reach $10.78 billion by 2028, with a CAGR of 2.8%. This growth can be attributed to the rising demand for oral diabetes medications, increased investments in diabetes research and drug development, growing healthcare expenditures, heightened awareness and diagnosis of pre-diabetes, and an increasing focus on combination therapies. Notable trends during this period include technological advancements, combination therapies, telehealth integration, health data analytics, and patient data security.
What Drivers Are Enhancing the Empagliflozin, Dapagliflozin And Canagliflozin Market’s Growth?
The rising prevalence of diabetes is projected to enhance the growth of the empagliflozin, dapagliflozin, and canagliflozin market. Diabetes is a chronic health condition characterized by high blood sugar levels due to insufficient insulin production or ineffective utilization of insulin by the body. The increasing rates of diabetes are linked to factors such as sedentary lifestyles, unhealthy diets, genetic predisposition, urbanization, and aging populations, compounded by limited healthcare access and rising global obesity rates. Empagliflozin, dapagliflozin, and canagliflozin are utilized in managing diabetes by lowering blood sugar levels through the inhibition of sodium-glucose co-transporter-2 (SGLT2) in the kidneys, promoting glucose excretion via urine.
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What Segments Are Central to the Empagliflozin, Dapagliflozin And Canagliflozin Market?
The empagliflozin, dapagliflozin and canagliflozin market covered in this report is segmented –
1) By Type: Empagliflozin, Dapagliflozin, Canagliflozin
2) By Application: Application I, Application II, Application III, Application IV
3) By Channel: Hospital, Pharmacy
What Emerging Trends Are Influencing Empagliflozin, Dapagliflozin And Canagliflozin Industry Dynamics?
Major companies in the empagliflozin, dapagliflozin, and canagliflozin markets are working on innovative products, such as pediatric type-2 diabetes treatments, to cater to a broader patient demographic and extend their market reach in diabetes care. Pediatric type-2 diabetes treatment focuses on managing blood sugar levels through lifestyle modifications, medications, and sometimes insulin therapy specifically designed for children and adolescents. For example, in June 2024, AstraZeneca, a UK-based pharmaceutical company, announced the FDA’s approval of Farxiga (dapagliflozin) to improve glycemic control in pediatric patients aged 10 years and older with type 2 diabetes. This approval was based on favorable results from the T2NOW Phase III clinical trial, one of the largest pediatric type-2 diabetes trials to date, demonstrating that Farxiga significantly reduced HbA1c levels compared to placebo. The safety profile of Farxiga in this demographic was consistent with that observed in adults with type-2 diabetes. This approval marks a significant milestone, as oral treatment options for pediatric type-2 diabetes have been limited, highlighting AstraZeneca’s dedication to delivering innovative treatments across cardiovascular, renal, and metabolic diseases.
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Which Geographic Locations Are Critical to the Growth of the Empagliflozin, Dapagliflozin And Canagliflozin Market?
North America was the largest region in the empagliflozin, dapagliflozin and canagliflozin market in 2023. The regions covered in the empagliflozin, dapagliflozin and canagliflozin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Empagliflozin, Dapagliflozin And Canagliflozin Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the empagliflozin, dapagliflozin and canagliflozin market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Empagliflozin, Dapagliflozin And Canagliflozin Market Include
1. Empagliflozin, Dapagliflozin And Canagliflozin Market Executive Summary
2. Empagliflozin, Dapagliflozin And Canagliflozin Market Segments
3. Empagliflozin, Dapagliflozin And Canagliflozin Market Size And Template Market Growth Rate
4. Key Empagliflozin, Dapagliflozin And Canagliflozin Market Trends
5. Major Empagliflozin, Dapagliflozin And Canagliflozin Market Drivers
……
25. Key Mergers And Acquisitions In The Empagliflozin, Dapagliflozin And Canagliflozin Market
26. Top Empagliflozin, Dapagliflozin And Canagliflozin Companies
27. Empagliflozin, Dapagliflozin And Canagliflozin Market Opportunities And Strategies
28. Empagliflozin, Dapagliflozin And Canagliflozin Market, Conclusions And Recommendations
29. Appendix
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