Global Diabetes Drug Market Size, Share, Forecast Report, 2020-2027

The global diabetes drug market is expected to grow at a CAGR of 6.38% during forecasted period.
Diabetes is a metabolic disorder in which the body glucose level is elevated. There are two type of diabetes namely type-1 diabetes and type-2 diabetes. During last decade there is a tremendous increase in the number of diabetic population. According to International Diabetes Federation, in 2016, it was estimated that 420 million adult population were suffering from diabetes which is increasing at the rate of 8.4% and is expected to reach 625 million by 2040. A number of different types of drugs are available in the diabetes drug market however, no available treatment can cure diabetes totally. The global diabetes drug market is majorly driven by increasing number of diabetic population. According to research, smoking increases the possibility of diabetes; more than 60% of the global population smokes, this has increased the risk of diabetes and contributed to the growth of the diabetes drug market. Moreover, increasing obese population, increasing healthcare expenditure, and strong encouragement from the government have also contributed to the growth of the diabetes drug market. To meet the increasing demand for the drugs government of different countries are providing support to manufacturers. Increasing government support will help to boost the diabetes drug market in coming future. However, cost issues, strict regulatory rules and long approval time for drugs may led to restrain the growth of the diabetes drug market.
Diabetes Drug Market Segmentation

The global diabetes drug market is segmented on the basis of types, route of administration, drug class, and end users.

On the basis of types, the diabetes drug market is segmented into type-1 diabetes and type-2 diabetes.

On the basis of route of administration, the diabetes drug market is segmented into oral, intravenous and other.

On the basis of drug class, the diabetes drug market segmented into insulin, sensitizers, SGLT-2 inhibitors, alpha-glucosidase inhibitors, secretagogues, peptide analogs and others. Sensitizers are sub-segmented into thiazolidinediones and biguanides. Secretagogues are further segmented into sulfonylureas and non-sulfonylureas

On the basis of end users, the diabetes drug market is segmented into hospital & clinics, ambulatory clinics and other.
Key Players for global Diabetes Drug Market

The major player in the global diabetes drug 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).