Diabetes is a chronic metabolic disease wherein the body is either not able to produce insulin (type-1) or is not able to utilize the generated insulin (type-2). Diabetes is type of metabolic diseases in which the person has high blood glucose (blood sugar), due to inadequate insulin production, or body’s cells not responding properly to insulin or both. Patients with elevated sugar level experience various symptoms such as increased thirst (polydipsia), weight loss, increased appetite (polyphagia) and frequent and sweet-smelling urination (polyuria). If untreated, diabetes causes various acute and chronic life-threatening complications.
Diabetes may occur in any individual regardless of their age or gender. Overweight and obese people, and people with unhealthy diets and less physical activity are more prone to diabetes. Diabetes may lead to many major consequences such as blindness, amputations, kidney failure, and higher risk of death.
Increasing geriatric population, rising prevalence obesity among population due to various reasons such as unhealthy lifestyles, and stressful and round-the-clock working conditions are key factors driving the global antidiabetics market. In addition, governments initiatives to educate and spread awareness, improvement in diabetes treatment and products innovations are also fueling the market growth.
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Drug patent expiry, high-cost associated with diagnosis and treatments, poor reimbursement policies may hamper growth of the global antidiabetics market. However, generic drugs manufacturers have opportunities to expand their customer base and generate revenues from biosimilar products. Biosimilars are required due to patent expiration of major popular products. Moreover, emerging countries offer a strong platform with unmet medical needs.
North America market is estimated to account for comparatively higher share owing to better healthcare infrastructure, high expenditure on healthcare, favorable reimbursement policies, and penetration of long acting and rapid acting insulin analogs in countries of this region. Asia pacific is expected to witness highest growth during the forecast period owing to government initiatives to improve healthcare facilities and spread awareness, high disposable incomes, prevalence of type I and type II diabetes due to unhealthy lifestyles, and increasing geriatric and obese population.
Key players include Abbott Laboratories, Dexcom Inc., Johnson & Johnson, Merck & Co. Inc., Sanofi-Aventis, Takeda Pharmaceuticals, Eli Lilly, Oramed Pharmaceuticals, Boehringer Ingelheim, Novo Nordisk, Bristol-Myers Squibb, Halozyme Therapeutics, and Pfizer.