Type 2 diabetes is a rising health concern in developed as well as developing nations. It can occur at any age and may remain undetected till a urine
glucose or blood test is conducted. Most of the times, type 2 diabetes is associated with obesity, which can cause resistance to insulin and result in high
levels of blood glucose. Type 2 diabetes was initially known as a disease of affluence and was only said to affect people from the most industrialized
regions of the globe. However, in the current scenario, type 2 diabetes has reached countries in Asia Pacific, where infectious diseases and malnutrition
have been major concerns in the past few decades.
Type 2 Diabetes Therapeutics Market in Asia Pacific to Exhibit CAGR at 7.1% from 2013 to 2020
According to statistics provided by the International Diabetes Federation, 387 million people are living with diabetes at present and it is estimated that
the number will reach 592 million by the end of 2035. Around 60% of the latter is expected to be accounted for by Asia Pacific. In 2013, the type 2
diabetes therapeutics market in Asia Pacific stood at US$6.5 billion and is projected to touch US$10.5 billion by the end of 2020, growing significantly at
a 7.1% CAGR between 2013 and 2020.
DPP-4 inhibitors (such as Tradjenta and Januvia), GLP-1 agonists (such as Victoza and Lyxumia), sulfonylureas (such as Glimepiride and Gliclazide),
thiazolidinediones (such as Actos), long-acting insulins (such as Lantus and Levemir), and SGLT inhibitors (such as Invokana and Forxiga), are the key
product segments in the Asia Pacific type 2 diabetes therapeutics market. The growth of the prevalence of type 2 diabetes in Asia Pacific, especially in
China and India, is expected to boost the demand for type 2 diabetes therapeutics in the coming years.
Rising Approval to Novel Drugs to Boost Demand for Type 2 Diabetes Therapeutics
Pipeline products in the type 2 diabetes therapeutics market in Asia Pacific are examined on
the basis of molecule type, program type, molecular target, mechanism of action, and phase distribution. The increasing approval from government healthcare
agencies for new classes of drugs is one of the key factors expected to propel the Asia Pacific type 2 diabetes therapeutics market in the next few years.
For the purpose of geographical analysis, the type 2 diabetes therapeutics market in Asia Pacific has focused on four major countries, viz. India, China,
Australia, and Japan. Many countries in Asia Pacific are witnessing social and economical changes and the tremendously increasing urbanization can result
in a complete change of lifestyle and has triggered type 2 diabetes among the people of this region. The direct and indirect cost of diabetes treatment and
the various complications associated with it have the potential of hampering the healthcare budget of developing economies in Asia Pacific.
In 2014, around 4.9 million people died due to diabetes, even as global expenditure on diabetes therapeutics reached US$610 billion. The figures elaborate
the critical nature of diabetes in Asia Pacific. It is anticipated that approximately 90% of the cases of diabetes observed in Asia Pacific fall under the
Type 2 diabetes category. As a result, the Asia Pacific therapeutics market for type 2 diabetes is rising at a tremendous rate.