Portland, OR -- (SBWIRE) -- 02/27/2018 -- Diabetes Therapeutics Market was valued at $66,993 million in 2016, and is estimated to reach $186,842 million by 2023, growing at a CAGR of 16.0% from 2017 to 2023.

Diabetes therapeutics are drugs used by diabetics to maintain the blood glucose levels to restore the blood glucose metabolism to a normal state. Diabetes, being one of the primary causes of increased cardiovascular morbidity and mortality in Western countries, constitutes a large burden to health care systems in terms of both direct and indirect costs.

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Therefore, efficient glucose control (attainment of normal HbA1C, prandial and postprandial glucose levels) is essential to the prevention of life-threatening complications of the disease. Most patients fail to sustain long-term, adequate control through life-style modifications or even combined oral medications (biguanides, sulfonylureas, meglitinides, glitazones, incretin mimetics, or DPP-4 inhibitors). Indeed, multidrug therapies are currently reconsidered, with recent studies questioning their long-term therapeutic benefit over side effects or disease complications.

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76% of patients were found to have mean HbA1C levels ?7.0%, while on multidrug therapy including combinations of two or more oral antidiabetic agents (OADs). Similar results have been obtained with insulin detemir when added as basal insulin for type 2 diabetic patients insufficiently controlled with OADs.

Type 2 diabetic patients (HbA1C levels 7.5– 11.0%) on stable treatment with 0– 2 OADs, excluding thiazolidinediones, were randomized to either an upgraded OAD regimen (with no insulin) or start of sleep time glargine (with no expansion in the oral treatment). The abatements in HbA1C and FPG were higher with glargine contrasted with OAD treatment.

Rise in geriatric population and increase in prevalence of diabetes worldwide due to increased obesity, urbanization, poor diet, and substandard healthcare conditions in some developing and underdeveloped countries. Moreover, the development of affordable & effective diabetes therapeutics, growth in awareness among people about self-management of diabetes, and support from the government.

The injectable segment witnessed rapid growth due to rise in prevalence of diabetes, increase in geriatric population, and high demand for self-care. Moreover, injectable can be used for both type-I and type-II diabetes, whereas OAD are used majorly for type-II diabetes. In addition, there is increased awareness about use of insulin (one of the injectable) as an anti-diabetic drug. Therefore, adoption of insulin is high in most of the regions of the world, which is expected to stimulate the growth of this segment.

According to IDF seventh Edition, about 29.6 million of the adult population in the South and Central America regions suffered from diabetes in 2015, of which, about 39.0% of them were undiagnosed. The presence of large number of people with diabetes in this region and developing healthcare facilities are expected to fuel the market growth.

According to the United Nations World Population Ageing Report, around 64.4 million people in Africa and 70.9 million people in Latin America and Caribbean belonged to the age group of 60 years and above in 2015.

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The list of key players profiled in this report include AstraZeneca plc, Boehringer Ingelheim GmbH, Eli Lilly and Company, GlaxoSmithKline plc, Johnson & Johnson, Merck & Co., Inc., Novartis AG, Novo Nordisk, Sanofi S.A., and Takeda Pharmaceutical Company Limited.

Key players in the value chain include Astellas Pharma Inc., Biocon Limited, Diasome Pharmaceuticals, Inc., Generex Biotechnology Corp., MannKind Corporation, and Pfizer Inc.