Market Size of North America Meglitinide Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2018 - 2022 |
| CAGR | 1.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Meglitinide Market Analysis
The North America Meglitinide Market size is expected to grow from USD 0.98 billion in current year to USD 1.05 billion by forecat year, at a CAGR of 1.50% during the forecast period.
In North America, the United States is having the highest number of COVID cases with 82 million in April 2022, the country also registered the highest death rate. In the North American region diabetes patients are more concerned about stocking up the monitoring and managing devices due to this the market increased during these years. The North American region had witnessed an astounding increase in the prevalence of diabetes, in recent years. In developed countries, such as the United States and Canada, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. Diabetes is associated with many health complications. Comparing the population with and without diabetes, those with diabetes have a 300% increased risk of being hospitalized and thus incur more healthcare expenses compared to non-diabetic people. Patients with Type 2 diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates.
Meglitinides are a type of non-sulfonylurea insulin secretagogues with a fast onset and short duration of action. They stimulate glucose-sensitive first-phase insulin release, lowering the risk of hypoglycemia. Meglitinides cause the body to release more insulin in people with type 2 diabetes, who have chronically high blood sugar levels.
The World Health Assembly agreed on a Resolution to strengthen diabetes prevention and control in May 2021. It recommends actions such as increasing access to diabetes medicines and health products and assessing the feasibility and potential value of establishing a web-based tool to share information relevant to market transparency for diabetes medicines and health products.
This is driving the demand for Meglitinides in North America, thereby driving the market in focus during the forecast period.
North America Meglitinide Industry Segmentation
Oral medicines called meglitinides are used to treat type-2 diabetes. They function by causing insulin to be produced. Prandin (repaglinide) and Starlix (nateglinide) are two medications in this family. The North American meglitinide market is segmented by geography (United States, Canada, and the Rest of North America). The report offers the value (in USD) and volume (in units) for the above segments. The report provides a segment-wise breakdown (value and volume) for all the countries covered under the Table of Contents.
| Drug | |
| Meglitinides |
| Geography | |
| United States | |
| Canada | |
| Rest of North America |
North America Meglitinide Market Size Summary
The North American meglitinide market is poised for growth, driven by the increasing prevalence of diabetes and the rising demand for effective diabetes management solutions. Meglitinides, a class of non-sulfonylurea insulin secretagogues, play a crucial role in managing type 2 diabetes by stimulating insulin release from pancreatic beta cells, thereby lowering blood glucose levels. The market is influenced by lifestyle changes leading to higher diabetes rates in developed countries like the United States and Canada. The growing concern over diabetes-related health complications and the need for regular blood glucose monitoring have further propelled the demand for meglitinides. Additionally, initiatives by health organizations to enhance diabetes prevention and control, along with the availability of these medications through health insurance plans, are contributing to market expansion.
The competitive landscape of the North American meglitinide market is characterized by the presence of major pharmaceutical companies such as Novo Nordisk, Glenmark, and Novartis, alongside generic drug manufacturers. This fragmentation fosters a competitive environment, with ongoing clinical trials and research aimed at improving the efficacy and safety of meglitinide treatments. The market's growth is supported by the increasing adoption of non-insulin medications as first-line therapy for type 2 diabetes, which currently dominate the anti-diabetic market. As the incidence of diabetes continues to rise, the demand for meglitinides is expected to increase, ensuring the market's expansion during the forecast period.
North America Meglitinide Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Drivers
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1.3 Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Intensity of Competitive Rivalry
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2. Market Segmentation
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2.1 Drug
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2.1.1 Meglitinides
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2.2 Geography
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2.2.1 United States
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2.2.2 Canada
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2.2.3 Rest of North America
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North America Meglitinide Market Size FAQs
What is the current North America Meglitinide Market size?
The North America Meglitinide Market is projected to register a CAGR of 1.5% during the forecast period (2024-2029)
Who are the key players in North America Meglitinide Market?
Novo Nordisk, Glenmark, Novartis, KISSEI and Biocon are the major companies operating in the North America Meglitinide Market.
