Global Oral Anti-Diabetic Drugs Market: World Market Review and Analysis By Type, By Region, By Country (2019 Edition): Opportunities and Forecast (2019-2024)

Date: 1 November 2019

According to a research report published by Azoth Analytics in June 2019, the Oral anti-diabetes drug Market was valued at USD 25.6 billion in the year 2018. Global Oral anti-diabetes drug market is expected to grow rapidly on the back of rising incidences of diabetes, growing geriatric population, growing government initiatives, and continuous research and development conducted by pharmaceutical manufacturers.  

The Azoth Analytics research report titled ‘Global Oral Anti-Diabetes Drugs Market – 2019 Edition’ has analysed and segmented the market By Type (Biguanides, Sulfonylurease, Thiazolidinediones, Alpha – glucosidase inhibitor, Dipeptidyl Peptidase IV inhibitor, SGL2 inhibitor, Others), By Region (North America, Europe, Asia Pacific, ROW) and By Country (U.S, Canada, Germany, France, Italy, U.K., Japan, China, India, and Brazil) for the historical period of 2014-2018 and the forecast period of 2019-2024.

Prominent use of metformin as first treatment method in diabetes has led to the majority of the growth of oral anti diabetes drugs in the historic period. Further, growing sedentary lifestyle, presence of diabetes medicines in the ‘Essential Drug List’ of the nations and wide insurance coverage for diabetes drugs have contributed to the growth rate of Oral anti-diabetes drug. In the forecast period, continuous research and development in pharmacotherapy and development of generic drugs by various pharmaceutical companies and their expansion in emerging nations is anticipated to provide momentum to the market growth. In addition, growing government healthcare expenditure in accordance with the growing GDP as well as rise in per capita healthcare expenditure by individuals is expected to fuel the market growth in forecast period. 

The findings from the report suggests that Biguanides drug class is dominating the global market in 2018. Their share is anticipated to rise on the back of vast application of metformin in treating diabetes. Amongst the regions, North America accounts for the largest regional share in the global Oral anti-diabetes drug market. Key factors driving the robust growth rate in North America region include presence of enormous patient base, high per capita healthcare expenditure and growing government initiatives.