Global Saxagliptin Sales Market is forecast to Touch USD by 2026, growing at a CAGR of from 2020 to 2026

Published | 12 January 2021

According to BlueWeave Consulting, Saxagliptin is an anti-diabetic medicine that is taken orally. It is majorly used for type 2 diabetes. The drug is commercially accessible under the trade name Onglyza. The global Saxagliptin market is determined by reasons such as the growing occurrence of diabetes, increasing risk factors such as varying lifestyles, a reduced physical workout that lead to diabetes, difficulties in substitute therapies for diabetes, and high obesity. However, a strict regulatory outline for diabetic drugs and opposing effects of Saxagliptin such as upper breathing tract contamination, urinary tract infection, and headache will restrain the market growth. Innovative R&D activities in the field of diabetes therapeutics and growth opportunities in the emerging economies of Asia-Pacific and LAMEA will deliver growth chances for market development.

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 is to hamper the market growth in the prediction period of 2020-2026. 

The 2.5 Mg segment occupies the largest share of the Therapy segment of the Global Saxagliptin Sales Market. 

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.

North America is expected to witness significant growth in the market during the forecast period

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.

The leading players” in the Global Saxagliptin Sales Market includes, 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 are expanding their presence in the market by implementing various business strategies. 

Do not miss the business opportunity of the Global Saxagliptin Sales Market. Consult our analysts, gain crucial insights, and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Saxagliptin Sales Market size & forecast. The report promises to provide recent technology trends of the Global Saxagliptin Sales Market and industry insights that help decision-makers to make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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