The International Diabetes Federation estimates that as many as 387 million people worldwide are diabetic, with a sizeable chunk of these affected by Type 2 diabetes. Moreover, it is estimated that by 2035, Asia Pacific will house about 60% of the world’s diabetic population. In China alone, about 113.9 million adults were reported to be diabetic in 2010, earning the country the title of the diabetes capital of the world. The Asia Pacific region, with a number of increasingly affluent countries, is witnessing an alarming increase in the prevalence of diabetes. Given the high incidence of type 2 diabetes in Asia Pacific, patients are turning toward novel drug classes. This is the most important factor that will drive the growth of the Type 2 diabetes therapeutics market in Asia Pacific.
According to a recent report on the Type 2 diabetes market in Asia Pacific, the following regions are the most lucrative for market players: India, China, Australia, and Japan. At an estimated CAGR of 7.1% the APAC type 2 diabetes therapeutics market is poised for healthy growth. According to market research reports, the APAC type 2 diabetes therapeutics market touched US$6.5 billion in 2013 and will approximate US$10.5 billion by 2020. Two main reasons
Therapies in Novel Treatment Classes Expected to Receive Approval in Next Few Years
The market is expecting several products under novel treatment classes to receive the regulatory nod over the next few years. When this happens, the market will receive a major boost. Some therapies that are slated for approval include: Dipeptidyl Peptidase-4 (DPP-4) inhibitors and Glucagon-Like Peptide-1 (GLP-1) agonists.
The impact of these new market entrants is expected to augur well for the overall type 2 diabetes therapeutics market. Simultaneously, the increasing diabetic population, especially in China and India, will create a massive pool of potential consumers that market players can tap. Healthcare agencies in these countries have taken cognizance of the diabetes epidemic and are promoting healthcare initiatives aimed toward mitigating the diseases.
Licensing Agreements and Co-Development Deals to Keep up Dynamism of Type 2 Diabetes Therapeutics Market in APAC
Browse the full Press Release of Type 2 Diabetes Therapeutics Market: http://www.mrrse.com/type-2-diabetes-therapeutics-in-asia-pacific-market-report
Several players in the Asia Pacific type 2 diabetes therapeutics market have announced co-development and licensing deals in the recent past. As the outcomes of these deals become evident over the next few years, the market could receive an added impetus.
Some of the major licensing deals that have been reported over the last few years in the Type 2 diabetes therapeutics market in APAC are:
· A licensing agreement between Zosano Pharma and Novo Nordisk
· Sirona Biochem’s licensing agreement for the SGLT2 Inhibitor with Wanbang Biopharma
· The expansion of Depomed’s licensing agreement for Metformin Patents with Merck
· Licensing agreement between Chugai Pharma and Sanofi for the SGLT2 Inhibitor CSG452
Among the most notable co-development deals that have been reported from the type 2 diabetes therapeutics market in APAC are:
· Yabao Pharma’s co-development agreement for LY2608204 with Eli Lilly
· Co-development agreement between AstraZeneca and Bristol-Myers Squibb
· Collaboration between Janssen Pharmaceutics and Isis Pharmaceuticals
· Ertugliflozin co-development agreement between Merck and Pfizer
However, the presence of expensive drug classes in the type 2 diabetes therapeutics market in APAC could hinder growth to some degree