The global Hypoglycemic Drugs Market is estimated to be valued at US$ 720.72 Mn in 2023 and is expected to exhibit a CAGR of 9.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Hypoglycemic drugs are used to treat diabetes by lowering blood glucose levels. They help maintain optimal blood glucose levels and reduce the risk of complications from hyperglycemia such as vision loss, kidney damage, nerve damage and cardiovascular disease. They fall into several categories including insulin, sulfonylureas, biguanides, alpha-glucosidase inhibitors, meglitinides, thiazolidinediones and DPP-4 inhibitors. Market key trends: One of the key trends in the hypoglycemic drugs market is the increasing adoption of artificial intelligence technology. Many major players are investing in AI and machine learning to develop algorithms that can analyze patterns in blood glucose data and provide personalized treatment recommendations. This helps improve medication adherence and management of blood sugar levels. AI also enables more proactive care by predicting hypoglycemic events before they occur. Such tech-enabled solutions are driving better health outcomes and fueling market growth. Segment Analysis The global hypoglycemic drugs market is dominated by oral anti-diabetic drugs sub-segment due to its convenience of oral administration and better patient compliance. Oral anti-diabetic drugs are further classified into DPP-4 inhibitors, sulfonylureas, biguanides, alpha-glucosidase inhibitors, thiazolidinediones, and others. Among these oral hypoglycemic drugs, sulfonylureas are dominating the market owing to their low-cost, high efficacy, and wide usage in type 2 diabetes treatment for a long period of time. Key Takeaways The global Hypoglycemic Drugs Market Growth is expected to witness high growth, exhibiting CAGR of 9.2% over the forecast period, due to increasing prevalence of diabetes globally. North America is currently the dominant region in the global hypoglycemic drugs market owing to developed healthcare infrastructure and increasing incidence of diabetes in the region. Asia Pacific is expected to be the fastest growing region in the market over the forecast period due to rising geriatric population, growing obesity, sedentary lifestyle in emerging countries such as China and India. Key players operating in the hypoglycemic drugs market are Eli Lilly & Company, Boehringer Ingelheim GmbH, Vistin Pharma AS, Janssen Pharmaceutica NV, Sanofi, Astellas Pharma Inc., AstraZeneca plc., Merck & Co., Inc., Novartis AG., Novo Nordisk A/S, Teva Pharmaceuticals Pvt Ltd., and Sun Pharmaceutical Industries Ltd. The global market is fragmented with many domestic players holding sizeable market shares. Read More, https://www.insightprobing.com/hypoglycemic-drugs-market-trends-size-and-share-analysis/
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