Antidiabetics Market size to exceed $116bn by 2023

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Antidiabetics Market size to exceed 116bn by
2023, with global industry growth forecast of
over 10 CAGR Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from Antidiabetics Market

• Global antidiabetics market size was USD 51.1
  billion in 2015, with over 10 industry gains up
  to 2023.
• U.S. insulin antidiabetics market share was the
  largest in North America, with close to 24
  million estimated diabetes patients, of which 23
  remain undiagnosed. Various awareness campaigns
  and education programs are organized by
  associations and diabetes societies to raise
  awareness and provide information regarding
  diabetes management.
• However, the U.S. is maturing in terms of new
  product launches, due to which manufacturers are
  now seeking towards emerging areas in diabetes
  for more revenue generation.

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Continued...

• Europe antidiabetics market will show steady
  growth as well, particularly due to increase in
  obesity prevalence, with 10 to 50 of adult
  population diagnosed to be obese in 2015. Germany
  and UK insulin antidiabetic sales accounted for
  more than 50 of regional revenue. 
• Asia Pacific could see 13 CAGR sales growth from
  2016 to 2023, with India and China still
  relatively unexplored in terms of potential.
• Takeda, Merck, Boehringer Ingelheim, Oramed,
  Pfizer, Novo Nordisk, Eli Lilly and Sanofi
  Aventis, are some notable industry participants.

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Europe insulin antidiabetics market size, 2015
2023, (USD Million)

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360 Analysis

• Product Analysis
• Global antidiabetics market size was driven by
  insulin products, with sales of more than USD 75
  billion by 2023. This segment is slated to grow
  fastest witnessing 13.2 CAGR from 2016 to 2023.
  Rising prevalence of diabetes, and increasing
  awareness levels to treat the disease should
  drive the segment growth.
• Regional Analysis
• North America held more than 42 in the overall
  insulin antidiabetics market share in 2015,
  valued at USD 22.2 billion. Regional demand is
  driven by availability of better healthcare
  access coupled with high healthcare expenditure.
  Moreover, favorable reimbursement framework has
  led to high market penetration of long acting and
  rapid acting insulin analogs.
• Competitive Market Share
• Novo Nordisk, Sanofi Aventis, and Eli Lilly
  dominate the industry owing to their extensive
  product portfolio, as well as RD as well as
  innovation for pipeline products. However, patent
  expiration of certain products should attract
  generic manufacturers to enter the industry with
  cost-effective biosimilars. Active industry
  players include Takeda Pharmaceuticals, Merck
  Co. Inc, Oramed Pharmaceuticals, Inc., Boehringer
  Ingelheim, and Pfizer.

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