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.
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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