The ‘Global Saxagliptin Market Share, Size, Trends, Price, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global saxagliptin market size, assessing the market on the basis of its segments like dosage, distribution channels, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 4%
The increasing prevalence of diabetes mellitus is driving the demand for saxagliptin. According to World Health Organisation, diabetes is one of the leading causes of death worldwide, both directly and indirectly. Moreover, WHO has also estimated an increase in diabetes cases in the coming years. Diabetes mellitus also poses a great risk of kidney failure which is curbed by saxagliptin.
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Moreover, saxagliptin medication also treats eye problems. Hence, the increasing awareness pertaining to the capabilities of this drug is propelling its demand. Additionally, the increasing patient preference towards minimally invasive diabetes treatment procedures is likely to provide impetus to the saxagliptin market.
Over the forecast period, the easy accessibility of the medication guide of saxagliptin available on the official websites of organisations such as the United States’ Food and Drug Administration, is anticipated to boost the awareness about saxagliptin. This might lead to a heightened demand for the product in home healthcare settings. Furthermore, saxagliptin combined with Metformin decreases hyperglycaemia which is a crucial driving factor of the market.
At a regional level, the Asia Pacific accounts for the largest share in the market with China being the country with highest number of cases of diabetes mellitus. The increasing rate of diabetes diagnoses across emerging economies such as India and Bangladesh, is likely to be a major saxagliptin market bolstering factor in the coming years.
Meanwhile, North America is likely to generate a significant demand for saxagliptin in the forecast period, owing to the increasing risk of diabetes induced by sedentary lifestyles of adults in the region.
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Saxagliptin Industry Definition and Major Segments
Saxagliptin is defined as a drug which is used to treat diabetes mellitus. It belongs to the medication class known as dipeptidyl peptidase-4 and is taken along with food to alter the blood sugar levels of a person. This medication also has positive impacts such as reduced risk of heart disease, stroke, or nerve damage, among others.
Based on dosage, the market can be segmented into:
- 2.5 mg
- 5 mg
The market can be broadly categorised based on distribution channel into:
- Hospital Pharmacy
- Retail Pharmacy
On the basis of region, the market can be categorised into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Saxagliptin Market Trends
The key trends in the global saxagliptin market include the growing research and development activities by the major pharmaceutical companies aimed towards increasing the efficacy of formulations to boost the treatment of diabetes mellitus. The increasing healthcare expenditure, growing healthcare awareness, and rising disposable income across the emerging economies are some of the crucial trends bolstering the market growth.
In addition to this, the increasing geriatric population and sedentary lifestyles and the associated risk of diabetes, coupled with the favourable government policies are some of the other factors propelling the demand for saxagliptin.
Meanwhile, the thriving e-commerce industry as well as efficient pharmaceutical home delivery apps is likely to accelerate the saxagliptin market in the forecast period. Additionally, the rapid development of hospital pharmacies and rapid urbanisation are likely to further augment the value chain of saxagliptin in the coming years.
Over the forecast period, the growing FDA approvals of Saxagliptin formulations and tablets are likely to be the major trends garnering the saxagliptin market. For instance, Glenmark Pharmaceuticals Inc., announced that the company has been granted a tentative approval by the FDA for its 10/5 mg Saxagliptin tablets.
However, the side-effects of the medicine such as itching, rashes, and vomiting, among others, are likely to pose a challenge to the market.
Key Market Players
The major players in the saxagliptin market report are:
- AstraZeneca plc.
- Wellona Pharma
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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