Global Antidiabetics Market Size and Forecast Up to 2020: Grand View Research, Inc

Global antidiabetics market is expected to reach USD 84.13 billion by 2020, according to a new study by Grand View Research, Inc. Growing prevalence of diabetes is the primary driver of this market. Growth in prevalence of disease causing lifestyle disorders such as irregular dietary habits and obesity is also expected to boost product demand by triggering incidence rates of target diseases. Future commercialization of products currently in the pipeline and the presence of large untapped opportunities in the emerging Asia Pacific and Latin American markets is expected to fuel future market growth.
Insulin was the most revenue generating segment and its market was valued at over USD 20.0 billion in 2013. Insulin is also one of the most lucrative segments of this market. Introduction of new products exhibiting higher efficacy coupled with the presence of favorable government initiatives are some factors attributing to its market attractiveness.
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Further key findings from the study suggest:
• Long acting insulin was the leading product segment in 2013 and is expected to grow at the CAGR of over 15.0% during the forecast period. The introduction of advanced products, high prices associated with these products and the phasing out of human insulin are some key factors attributing for its large share.
• Rapid uptake of newly approved DPP-4 inhibitors such as Januvia, Nesina and Onglyza on account of their once daily dosage regimens and safety profiles catalyzed the growth of this market.
• North America was the most matured antidiabetics market in 2013 accounting for over 43.0% of the market High market penetration of insulin and other antidiabetics and the presence of sophisticated reimbursement framework are expected to drive regional market growth.
• Asia Pacific is expected to present manufacturers with lucrative...