New York, July 20, 2022 (GLOBE NEWSWIRE) -- In 2019, diabetes was the ninth leading cause of death with an estimated 1.5 million deaths directly caused by diabetes. Furthermore, about 422 million people worldwide have diabetes, the majority living in low-and middle-income countries, and 1.5 million deaths are directly attributed to diabetes each year. Both the number of cases and the prevalence of diabetes have been steadily increasing over the past few decades.
Research Nester has published a detailed market report on ‘Global SGLT2 Inhibitors Treatment Market’ for the forecast period, i.e., 2022-2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions, namely, North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.
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The global SGLT2 inhibitors treatment market is estimated to grow at a notable CAGR of over the forecast period. The market is anticipated to grow on the back of increasing prevalence of diabetes worldwide. As per the data by International Diabetes Federation, around 535 million adults all over the world have diabetes, and approximately 540 million adults are at high risk of developing type 2 diabetes. Furthermore, people suffering from certain diseases such as high blood pressure, and high cholesterol are at increased risk of developing diabetes. The increasing prevalence of high cholesterol, and high blood pressure owing to improper diet, long working hours, and stressful and busy life, is estimated to drive the global market growth during the forecast period. According to the World Health organization (WHO), approximately, 1.28 billion adults aged 30-79 years are living with high blood pressure, and nearly 46% of adults with hypertension are unaware that they have the condition, globally.
Moreover, the global market is anticipated to grow owing to the increased prevalence of obesity and overweight worldwide. Globally, at least 2.8 million people dying each year as a result of being overweight or obese. Furthermore, people in urban areas have sedentary lifestyle and they are mostly dependent on fast foods, high-fat snacks and sugary drinks, leading to overweight or obesity. Hence the rapid urbanization and the increasing population across the urban areas all over the world, is projected to boost the global market growth. According to the World Bank, 55% of the global population, which is close to 4.2 billion people, live in cities. By 2050, with the urban population is estimated to double its current size, and nearly 7 of 10 people in the world will live in cities.
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Regionally, the global SGLT2 inhibitors treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the North America region is anticipated to gain the largest market share in the market during the forecast period, on the back of high prevalence of diabetes owing to increase in diabetes causing factors, such as, obesity, unhealthy diet, and physical inactivity. According to Centers for Disease Control and Prevention (CDC), all states and territories in the USA had more than 15% of adults who were physically inactive. Furthermore, increased expenditure for healthcare R&D activities, and new developments of advanced drugs in the region, are also anticipated to drive the market growth in the region. According to the Centers for Medicare & Medicaid Services (CMS), the U.S. health care spending grew 9.7% in 2020, reaching USD 4.1 trillion or USD 12,530 per person. As a share of the nation's gross domestic product, health spending accounted for 19.7%. Furthermore, presence of major pharmaceuticals companies in the region is also estimated to drive the market growth across the region during the forecast period.
Moreover, the market in the Asia Pacific region is expected to hold the second largest share in the global market across the forecast period, owing to the rise in diabetic population. According to the World Health Organization (WHO), out of the 422 million people worldwide having diabetes, the majority patients are living in low-and middle-income countries. It is believed that nearly 150 million or above diabetes patients live in the region, and more than 95% of the patients are of type 2 diabetes. Furthermore, increasing population with sedentary lifestyle, and prevalence of high blood pressure across the region, is estimated to drive the market growth in the future. Along with this, people over the age of 45 are at increased risk of developing type 2 diabetes. Therefore, the growing geriatric population across the region is also estimated to boost the market growth in the region during the forecast period. For instance, China and India are home to the world’s largest and the second largest elderly population respectively. Approximately 11% of China’s population is above 65, and nearly 6% of population in India is of age 65 above.
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The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global SGLT2 inhibitors treatment market is segmented on the basis of application into glucose dissipation, blood transfusion, infusion, and others, out of which, the blood transfusion segment is anticipated to hold the largest share among all other sub-segments in the market during the forecast period on the back of the growing demand for blood transfusion to treat severe anemia in the patients with damaged kidney or chronic kidney disease. Diabetes and high blood pressure are the two most common cause of chronic kidney disease. For instance, approximately 4.5 million Americans need blood transfusion each year. Moreover, nearly 10% of the world’s population is suffering from chronic kidney disease. The presence of high blood glucose or blood sugar in diabetic patients damages the blood vessels in the kidneys, while the high blood pressure narrows the blood vessels which eventually leads to a chronic kidney disease. Approximately 1 in 3 diabetic patients and 1 in 5 people with high blood pressure are suffering from kidney disease in the US.
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Moreover, on the basis of end user the market is segmented into hospitals, clinics, diagnostic center, and others, out of which, the hospitals segment is predicted to garner the largest share among all other sub-segments in the market in the forecast period. This can be attributed to the increased hospital expenditure for providing better health facilities to patients worldwide. Furthermore, the developments of new hospitals all over the world owing to the increasing number of patients globally is also estimated to boost the market growth during the forecast period. For instance, by the end of 2017, more than 15,000 new healthcare construction projects were in progress in the United States. Moreover, a survey also showed that hospitals construction projects have increased from approximately 10% in 2021 to nearly 15% in 2022 in the US.
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Some of the prominent players and their company profiling mentioned in the report include are Novartis International AG, Boehringer Ingelheim International GmbH, Janssen Pharmaceuticals, Inc., GRUPO TECNIMEDE, Unichem Laboratories Ltd., Bluepharma Indústria Farmacêutica, S.A, AstraZeneca Pharmaceuticals LP, Eli Lilly and Company, Merck Group, and Pfizer Inc. The profiling enfolds growth opportunities, challenges, market trends, and competitive analysis.
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