Market Trends of Combination Anti-Diabetes Drugs Industry
Janumet holds the highest market share in the Combination Anti-Diabetes Drugs Market in the current year
Janumet holds the highest market share of about 37.4% in the Combination Anti-Diabetes Drugs Market in the current year.
Janumet contains a combination of metformin and sitagliptin. Metformin and sitagliptin are oral diabetes medicines that help control blood sugar levels. Metformin works by decreasing glucose production in the liver and decreasing glucose absorption by the intestines. Sitagliptin works by regulating the insulin levels the body produces after eating. Janumet is used with diet and exercise to improve blood sugar control in adults with type 2 diabetes mellitus. Janumet is not used to treat type 1 diabetes.
Combination oral drugs are available internationally and are recommended for use when escalation of treatment for type 2 diabetes is required, along with lifestyle management. Oral agents are typically the first medications used in treating type 2 diabetes due to their wide range of efficacy, safety, and mechanisms of action. Combination oral drugs help diabetes patients to keep their condition under control and lower the risk of diabetes complications. People with diabetes may need to take anti-diabetic drugs for their whole lives to control their blood glucose levels and avoid hypoglycemia and hyperglycemia. Oral anti-diabetic agents present the advantages of easier management and lower cost. So they became an attractive alternative to insulin with better acceptance, which enhances adherence to the treatment.
Globally, people witnessed an alarming increase in the prevalence of diabetes in recent years. Patients with diabetes require many corrections throughout the day to maintain nominal blood glucose levels, such as oral anti-diabetic medication or ingestion of additional carbohydrates by monitoring their blood glucose levels. The rate of newly diagnosed Type 1 and Type 2 diabetes cases is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure are indications of the increasing usage of diabetic drugs.
Owing to the factors above and the increasing prevalence, the market will likely continue to grow.
North America is expected to dominate the Combination Anti-Diabetes Drugs market over the forecast period
North America is expected to register a CAGR of about 6.5% in the Combination Anti-Diabetes Drugs market over the forecast period.
Combination Anti-diabetic drugs are medicines developed to stabilize and control blood glucose levels among people with diabetes. According to the Division of Metabolism and Endocrinology Products in the FDA's Center for Drug Evaluation and Research, 'Patients want effective treatment options for diabetes that are as minimally intrusive on their lives as possible, and the FDA welcomes the advancement of new therapeutic options that can make it easier for patients to control their condition.'
Most health insurance plans cover diabetes medications because they are considered medically necessary. Medicare generally covers diabetes medications. The American Diabetes Association includes a guide to Medicare and diabetes prescription drug benefits. For patients covered by insurance, typical out-of-pocket costs consist of a prescription drug copay ranging from USD 10 to USD 50, depending on the drug. If the patient takes multiple drugs, copays can total USD 200 monthly or more.
An estimated 1.4 million Americans are diagnosed with diabetes every year, according to the American Diabetes Association. Diabetes is one of the leading causes of death in Canada and other North American countries. The disease's growing incidence, prevalence, and progressive nature encouraged the development of new drugs to provide additional treatment options for diabetic patients.
Owing to the factors above, the market is expected to grow during the forecast period.
