Injectable Drugs for Type-2 Diabetes Market: Global Demand Analysis & Opportunity Outlook 2028
Research Nester published a report titled “Injectable Drugs for Type-2 Diabetes Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global injectable drugs for type-2 diabetes market in terms of market segmentation by drug type, drug application, distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Type-2 diabetes is a type of diabetes which affects the blood sugar level. In type 2 diabetes, the body either doesn’t produce enough insulin, or it resists insulin. High blood sugar levels affect patient’s heart, blood vessels, nerves, eyes and others. Injectable drug is one type of treatment method for type 2 diabetes which is injected inside the patient’s body. Global injectable drugs for type-2 diabetes market is anticipated to record a significant CAGR over the forecast period, i.e., 2020-2028. The primary factor for the growth of the market can be attributed to the rapid growth in the diagnosis and prevalence of the disease.
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Initially, most of the treatments available for type 2 diabetes are effective in reducing the complications but, drugs which maintain glycemic control in long term are expected to grow the most over the forecast period owing to the need for sugar control in the blood of a diabetic patient.
Geographically, the global injectable drug for type 2 diabetes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America region is expected to lead the market on the back increase in prevalence of the disease coupled with their advanced healthcare infrastructure. However, Asia-Pacific region is anticipated to grow significantly on the back of increasing pool of patients, rising awareness towards diabetes and improving healthcare infrastructure in the region.
Increasing Life Expectancy and Declining Birth Rate to Boost Market Growth
Median age of the world population is expected to rise due to increasing life expectancy and declining birth rate. According to the World Bank data, the global life expectancy rose to 72.4 years in 2017 from 71.9 years in 2015. Considering the vulnerability of old age people towards diabetes it is expected that there will be an increase in the number of diabetes patients over the forecast period which will drive the market growth. However, time consuming approval process for drugs is expected to operate as a key restraint to the growth of injectable drugs for type 2 diabetes market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the injectable drugs for type-2 diabetes market which includes company profiling of GlaxoSmithKline plc (LON: GSK), Boehringer Ingelheim Pharmaceuticals, Inc., Merck & Co., Inc. (NYSE: MRK), Teva Pharmaceutical Industries Limited (TLV: TEVA), Mylan NV (NASDAQ: MYL), AstraZeneca plc (LON: AZN), Pfizer Limited (NSE: PFIZER), Eli Lilly and Co. (NYSE: LLY), Novo Nordisk A/S (CPH: NOVO-B), and Sanofi India Ltd (NSE: SANOFI).
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global injectable drugs for type-2 diabetes market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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