Global Saxagliptin Sales Market, By Dosage(2.5 mg, 5 mg, Others), By Distribution Channel(Hospital Pharmacy, Retail Pharmacy, Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2020-2026

Global Saxagliptin Sales Market Size – Industry Trends & Forecast Report 2026

The Global Saxagliptin Sales Market has reached USD in 2019 and is further projected to reach USD by 2026, rising at a CAGR of throughout the forecast period. The market for saxagliptin is motivating by the increasing cases of diabetes worldwide. North America and Europe are important markets for saxagliptin worldwide. This is attributed to a large number of an aging population and the increasing prevalence of type II diabetes. Factors such as increasing healthcare expenses, a large pool of patients, and rising government funding are attributing to the market development of saxagliptin in the Asia Pacific.

Source: BlueWeave Consulting

Global Saxagliptin Sales Market Overview:

Saxagliptin is the drug used to cure diabetes. It works by increasing the level of insulin in the body produced after the meal. The product is advertised under the brand name called Onglyza. Saxagliptin acts on a normal hormone in the body, which is called incretins. The product has many side effects such as headache, upper respiratory tract infection, urinary tract infection, and nasopharyngitis. Saxagliptin can also cause problems like stroke and heart attack.

Global Saxagliptin Sales Market 

Growth Drivers 

Rising Incidences of Type II Diabetes to Aid the Global Market Growth of Saxagliptin

The market for saxagliptin is being determined by the growing incidences of type II diabetes across the globe. The market drivers, such as improved sedentary lifestyle, growing prevalence of increased government funding, obesity, and junk food conducts, are subsidizing the market growth of saxagliptin. Further, rising healthcare awareness is expected to fuel market development over the forecast period. The market is expanding due to further inventions taking place in the saxagliptin industry. This is further expected to aid market growth over the prediction period. However, the market is expected to witness a setback due to the reasons, such as stringent regulations for the approval of drugs and the availability of alternatives for the conduct of diabetes.

Increase in Sedentary Lifestyle   

The increase in demand of various products increased with the rise in the type II diabetes cases owing to growing sedentary life and junk food habits amid numerous age groups and also the pool of patients going to the geriatric type is large which is measured as a Saxagliptin key driver of the market during the forecast period 2020-2026.

Restraint 

Strict regulations for approval of drugs

The major dare for the market is the absence of substitutes for the cure of diabetes with developing a large pool of elderly patients. The strict rules and regulations about the permission of drugs before distribution and sales is the big difficulty for some of the regions which are to hamper the market growth in the prediction period of 2020-2026. 

Impact of COVID-19 in the industry

As the COVID-19 pandemic expanses, Healthcare Industry is changing schedules and turning to telehealth to endure providing care for their patients who are home isolated, mainly to reduce the public spread of COVID-19. Health Practitioners implemented a regulatory outline for telehealth services for suitable billing and coding duties as well as any kind of malpractices throughout the telehealth services. Access to healthcare services is expected to improve in emerging countries, which will further support the Saxagliptin drugs market. Effective application of government health plans is the core reason for the improvement in healthcare access in many emerging regions such as India, China, and some Latin American countries. Many countries like Russia and Brazil are concentrating on improving their healthcare abilities which will help motivate the Saxagliptin drugs market.

Global Saxagliptin Sales Market: By Dosage Type

2.5 Mg seized the major share in the market over 5 Mg due to single, one-step dose amendment in patients with reasonable to severe renal impairment. The section is projected to rise at a CAGR of 2.8% Also ketoconazole, a strong CYP3A4/5 inhibitor, improved saxagliptin contact to the dose of ONGLYZA should be limited to 2.5 mg when co-administered with a robust CYP3A4/5 inhibitor then it could lead to side effects like counting joint pain, signs of heart failure (such as shortness of breath, swelling ankles/feet, unusual tiredness, unusual/sudden weight gain), unusual skin blisters.

Global Saxagliptin Sales Market: By Distribution Channel
 

Based on Distribution Channel, Global Saxagliptin Market is divided into Hospital Pharmacy, Retail Pharmacy, Others. Out of these Hospitals lead the market share of Saxagliptin sales owing to the high prevalence of type II diabetes among patients. Saxagliptin can also cause difficulties like stroke and heart attack therefore people like to ingest these drugs in the look after of the doctors.

Global Saxagliptin Sales Market: Regional insights

North America and Europe dominate the global market for saxagliptin due to the large number of the elderly population and the increasing occurrence of type II diabetes. Asia is predicted to show high development rates in the following five years in the global saxagliptin market. China and India are predicted to be the fastest rising saxagliptin markets in the Asia-Pacific region. Some of the key driving forces for the saxagliptin market in developing countries are a large pool of patients, growing healthcare expenditure, and increasing government backing. 

Source: BlueWeave Consulting

Recent Development

·         On February 28, 2017, Astra Zeneca announced that FDA approved once-daily QTERN® (dapagliflozin and saxagliptin) tablets for adults with type-2 diabetes as an adjunct to diet and exercise to improve glycemic (blood sugar level) control in adults with type-2 diabetes who have inadequate control with dapagliflozin (10mg) or who are already treated with dapagliflozin and saxagliptin.

·         On May 29, 2015 - Dr. Reddy’s Laboratories Limited and AstraZeneca Pharma India Limited entered into a distribution agreement for saxagliptin and its fixed-dose combination with metformin, in Type 2 Diabetes by offering innovative treatment options across the Indian market.

Competitive landscape

Key players in the Saxagliptin Sales Market include- Century Pharmaceuticals Ltd, Teva API, Centaur, Farmak International, Glenmark, Hetero, Jubilant Life Sciences Limited, Dr Reddy’s Laboratories Limited,Mylan, JSC OLAINFARM, Prajna, Zydus Cadila, AstraZeneca Pharma and other prominent players.           

Scope of the Report

By Dosage

Ø  2.5 mg

Ø  5 mg

Ø  Others

By Distribution Channel

Ø  Hospital Pharmacy

Ø  Retail Pharmacy

Ø  Others

By Region:

Ø  Asia Pacific

Ø  North America

Ø  Europe

Ø  Middle East & Africa

Ø  Latin America