2024 Global Antidiabetics Market Report: Key Drivers, Size, and Leading Segments
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What Growth Rate is Predicted for the Antidiabetics Market for 2024-2033?
The antidiabetics market has grown significantly, rising from $68.32 billion in 2023 to $76.03 billion in 2024, with a CAGR of 11.3%. Growth drivers include the increasing global prevalence of diabetes, advancements in drug development, greater awareness and diagnosis, government support, and rising healthcare expenditures.
The antidiabetics market is set to experience rapid growth, anticipated to reach $117.04 billion by 2028 at a CAGR of 11.4%. This growth is driven by the rising prevalence of diabetes, increased awareness and diagnosis, higher healthcare spending, an expanding geriatric population, and supportive government initiatives. Key trends include growth in GLP-1 receptor agonists and SGLT2 inhibitors, the expansion of biologics and biosimilars, a focus on preventive healthcare, growth in emerging markets, and technological integration.
What Drivers Are Enhancing the Antidiabetics Market’s Growth?
The antidiabetics market is anticipated to grow due to the rising prevalence of lifestyle-related conditions. These health issues stem from behaviors such as poor diet, lack of exercise, smoking, and excessive alcohol consumption. The growing incidence of lifestyle-related conditions is linked to unhealthy dietary habits, sedentary lifestyles, and increased stress levels. Antidiabetic medications can help manage these conditions, such as obesity and metabolic syndrome, by enhancing insulin sensitivity and regulating blood sugar levels.
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What Segments Are Central to the Antidiabetics Market?
The antidiabetics market covered in this report is segmented –
1) By Drug Class: Insulin, GLP-1 Receptor Agonists, DPP- 4 Inhibitors, SGLT2 Inhibitors, Other Drug Classes,
2) By Diabetes Type: Type 1, Type 2
3) By Patient Population: Antidiabetics For Pediatrics, Antidiabetics For Adults, Antidiabetics For Geriatrics
4) By Route Of Administration: Antidiabetics Administration Through Insulin Syringes Or Insulin Pens, Antidiabetics Administration Through Insulin Pumps, Intravenous Antidiabetics Infusion, Oral Antidiabetics Administration, Other Routes Of Antidiabetics Administration
5) By Distribution Channel: Online Pharmacies, Hospital Pharmacies, Retail Pharmacies
What Emerging Trends Are Influencing Antidiabetics Industry Dynamics?
Major companies in the antidiabetics market are introducing advanced products like anti-diabetic biosimilars. Glenmark Pharmaceuticals launched Lirafit in January 2024, the first biosimilar of Liraglutide for type 2 diabetes management.
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Which Geographic Locations Are Critical to the Growth of the Antidiabetics Market?
North America was the largest region in the antidiabetics market in 2023. The regions covered in the antidiabetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Antidiabetics 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 antidiabetics market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Antidiabetics Market Include
1. Antidiabetics Market Executive Summary
2. Antidiabetics Market Segments
3. Antidiabetics Market Size And Template Market Growth Rate
4. Key Antidiabetics Market Trends
5. Major Antidiabetics Market Drivers
……
25. Key Mergers And Acquisitions In The Antidiabetics Market
26. Top Antidiabetics Companies
27. Antidiabetics Market Opportunities And Strategies
28. Antidiabetics Market, Conclusions And Recommendations
29. Appendix
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