Segmental Analysis
The segmentation of the Diabetes Drugs Market is carried out on the basis of sample type, end-user, components, and region. The sample segment of the diabetes monitor market consists of sweat samples, urine samples, and blood samples. The component segment of the diabetes monitor market consists of glucose test strips, lancet, and sensors. The end-user segment of the diabetes monitor market consists of hospitals, diagnostic clinics, and homes. The type segment of the diabetes monitor market consists of continuous glucose monitors, point sample test-based glucose monitors, and enzyme-free sensor-based glucose monitors. The region segment of the diabetes monitor market consists of the Asia Pacific, Americas, Europe, and other crucial regions.
Market Highlights
Diabetes is one of the major problem across the globe. Diabetes is the metabolic disorder in which there is decrease in the level of insulin which ultimately causes increase in the blood sugar level. Global diabetic drug market is driven because of increasing diabetic population. Beside this governmental initiatives for research and development and rising demand for the better treatment has help in the growth of the market. Lack of awareness and high cost of drugs may responsible for restraining the market.
The major key player for the global diabetic drugs market are Eli Lilly (US), Novo Nordisk (Denmark), Abbott (US), AstraZeneca (UK), Biocon (US), Sunpharma (India), Sanofi (France), Novartis (Switzerland), Merck Co. (US), Pfizer (US), Daiichi Sankyo (Japan), Boehringer Ingelheim (Germany), Akros Pharma (US), Amgen (US), Adocia (France), Peptron (South Korea), Takeda (Japan)
Increasing diabetic population is fueling the growth of the market. Global diabetic drug market is highly competitive market due to presence of many of small and medium companies. Companies are concentrating on introduction of the new drugs having better results.
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Eli Lilly and Company is an US headquartered pharmaceutical companies. Many anti diabetic drugs are available in the market Basaglar, Glucagon, Glyxambi, Humalog, Humulin and Trulicity are some of the major products of this company. Trulicity is one of the most successful product of the company. Trulicity revenue in 2016 was increased by 7 %. In 2016, Synjardy has approved by FDA for the treatment of type 2 diabetes.
Novartis is a multinational pharmaceutical company headquartered in Denmark. Victoza, Tresiba, Levemir and NovoLog are some of the major products of the company. Company has recently launched Fiasp which is a fast acting insulin. In Q1 2017 the total sale of company for Diabetes and obesity care was 23,761 million Danish kroner.
Abbott Laboratories is one of the leading pharmaceutical company headquartered in US. Thyrocab, Mixtard and Human Actrapid are the major products of the company used in the treatment of type-2 diabetes. Mixtard an antidiabetic drug is the most selling drug in India.
AstraZeneca is the Swedish multinational pharmaceutical company headquartered in UK. Farxiga and Augmentin are the important productof the company. The companies diabetic product sale in 2016 was $ 2.4 billion which was increased by 11 % compare to 2015. Farxiga’s sale was increased by 72 % and on 2016 it hit 5 million.
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Segmentation:
Global diabetic drug treatment is segmented on the basis of type of diabetes into type-1 and type-2. On the basis of route of administration they are segmented into oral, intravenous and other. On the basis of drug class they are insulin, sensitizers, SGLT-2 inhibitors, alpha-glucosidase inhibitors, secretagogues, peptide analogs and others and on the basis of end users they are segmented into hospital, retail pharmacy and other.
On the basis of drug class, Sensitizers are sub segmented into thiazolidinediones and biguanides. Secretagogues are further sub segmented into sulfonylureas and non-sulfonylureas
The important contenders in the diabetes monitor market are Panasonic, Dexcom, Inc., F. Hoffmann-La Roche Ltd, Abbott Laboratories, Medtronic, LifeScan, Inc., and Sanofi.
Industry Updates:
June 2021 Dexcom, Inc., a frontrunner in real-time continuous glucose monitoring (CGM), declared that individuals with diabetes under the age of 18 residing in Saskatchewan may now obtain provincial handling for the Dexcom G6 CGM System through Saskatchewan Health. This coverage development is in line with Dexcom’s undertaking to make it simpler for people living with diabetes to feel the benefits of using a CGM system for managing their diabetes.
May 2021 Medtronic has been on an assignment to make diabetes management hassle-free. The newest push toward this objective arrives through two new European endorsements for Medtronic’s suite of diabetes management and monitoring devices. The first of these CE marks permits for prolonged functionality of the InPen, a linked insulin pen designed for users needing many daily injections. The “smart” Bluetooth-enabled pen, which has earlier been approved in both Europe and the U.S., is the first of its kind to fit in with continuous glucose monitoring technology, permitting users to instantaneously track glucose analyses and insulin dose data through the matching connected app.
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