(PharmaNewsWire.Com, October 20, 2022 ) According to Precision Business Insights (PBI) latest report, the global antidiabetic biosimilars market is expected to reach huge growth during the forecast period 2022-28. In diabetic individuals, anti-diabetics assist manage blood glucose levels. Biguanides, thiazolidinediones, DPP-IV inhibitors, -glucosidase inhibitors, sulfonylureas, insulin, and GLP-1 receptor agonists like exenatide are a few examples of antidiabetics. An FDA-approved biological product known as a reference product serves as the basis for the approval of a biosimilar product, which is a biological product. Manufacturers of biosimilars must produce data from laboratory and clinical testing to show that the biosimilar they have developed offers patients the same therapeutic value as the reference medicine.
The Antidiabetic Biosimilars Market Growth Factors
A favorable environment for the market's expansion is being created by the rising prevalence of diabetes, the complexity of substitute diabetic therapies, and government subsidies for the introduction of affordable therapies. Around 59.8 million people in Europe had diabetes in 2015, in accordance with the International Diabetes Federation (IDF). Due to a rise in antidiabetic product-related research activities and encouraging government financing, the market for an antidiabetic biosimilar is anticipated to be significant in the near future in the Asia Pacific region. Given the rising rate of diabetes in North America, this region is anticipated to be a lucrative market for antidiabetic biosimilars in the near future.
The Global Antidiabetic Biosimilars Market on the basis of Drug Class, the market is categorized into Insulin, Biguanides, Sulfonyl Ureas, Thiazolidinediones, Di Peptidyl Peptidase (DPP)-IV Inhibitors, α-glucosidase Inhibitors, GLP-1 Agonists, SGLT-2 Inhibitors, Others. On the basis of Disease Type, the market is classified into Type-I Diabetes, Type-II Diabetes. On the basis of the Distribution Channel, the market is divided into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies.
The Antidiabetic Biosimilars Market Trends
• A favorable environment for market expansion is being created by factors such as rising diabetes incidence, the complexity of alternative diabetic medicines, and government subsidies for the launch of affordable therapies.
• The prevalence of lifestyle diseases like obesity is rising, which raises the chance of developing diabetes and, in turn, fuels the demand antidiabetic biosimilars.
The Antidiabetic Biosimilars Market Regional Analysis
The APAC Antidiabetic biosimilars market was dominated by India in 2021 with a share of 81.2%. One of the nation's top priorities is the development of the biopharmaceutical sector as the Indian government works to achieve self-sufficiency. For example, the Indian government is investing billions in the study and development of biotechnology.
The major players operating in the Antidiabetic Biosimilars Market are Biocon (India), Merck Sharp & Dohme Corporation (U.S.), Boehringer Ingelheim GmbH (Germany), Eli Lilly & Co. (U.S.), Sanofi-aventis U.S. LLC (U.S.), Samsung Bioepis (Samsung BioLogics) (South Korea), Mylan N.V. (U.S.), Wockhardt (India)
Regional Reports:
Asia Pacific Anti diabetic Biosimilars Market By Drug Class (Insulin, Biguanides, Sulfonyl Ureas, Thiazolidinediones, Di Peptidyl Peptidase (DPP)-IV Inhibitors, α-glucosidase Inhibitos, GLP-1 Agonists, SGLT-2 Inhibitors, Others), By Disease Type (Type-I Diabetes, Type-II Diabetes), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)and Geography
North America Anti diabetic Biosimilars Market: By Drug Class (Insulin, Biguanides, Sulfonyl Ureas, Thiazolidinediones, Di Peptidyl Peptidase (DPP)-IV Inhibitors, α-glucosidase Inhibitos, GLP-1 Agonists, SGLT-2 Inhibitors, Others), By Disease Type (Type-I Diabetes, Type-II Diabetes), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)and Geography
Europe Anti diabetic Biosimilars Market By Drug Class (Insulin, Biguanides, Sulfonyl Ureas, Thiazolidinediones, Di Peptidyl Peptidase (DPP)-IV Inhibitors, α-glucosidase Inhibitos, GLP-1 Agonists, SGLT-2 Inhibitors, Others), By Disease Type (Type-I Diabetes, Type-II Diabetes), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) and Geography
Latin America Anti Diabetic Biosimilars Market By Drug Class (Insulin, Biguanides, Sulfonyl Ureas, Thiazolidinediones, Di Peptidyl Peptidase (DPP)-IV Inhibitors, α-glucosidase Inhibitos, GLP-1 Agonists, SGLT-2 Inhibitors, Others), By Disease Type (Type-I Diabetes, Type-II Diabetes), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies)and Geography
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