Saxagliptin Market Outlook
According to a new report by Expert Market Research titled, “Global Saxagliptin Market Price, Size, Growth, Report and Forecast 2023-2028″, the global saxagliptin market is projected to grow at a CAGR of 4% between 2023 and 2028. Aided by the escalating prevalence of Type 2 diabetes worldwide and the growing reliance on effective antidiabetic drugs, the market is expected to grow significantly by 2028.
Saxagliptin is an FDA-approved oral dipeptidyl peptidase-4 (DPP-4) inhibitor, designed to regulate blood sugar levels in patients suffering from Type 2 diabetes. As part of the antidiabetic medication group, saxagliptin assists in improving glycaemic control by increasing the levels of insulin when blood sugar is high and reducing the amount of sugar produced by the liver. Its efficacy and limited side effects have made it a widely preferred treatment option.
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One of the key saxagliptin market trends driving the market include the alarming rise in Type 2 diabetes cases. Changing lifestyles, unhealthy dietary patterns, and increasing sedentary behaviours have contributed to the escalation of this chronic ailment. With growing awareness of the potential complications related to unmanaged diabetes, such as neuropathy, retinopathy, and cardiovascular diseases, patients and medical professionals are actively seeking effective therapeutic solutions, thereby boosting the demand for saxagliptin.
Moreover, continuous R&D efforts in the pharmaceutical sector play a pivotal role in driving the saxagliptin market growth. As researchers endeavour to develop enhanced formulations with longer-lasting effects and fewer side effects, saxagliptin continues to evolve, ensuring better patient adherence and improved outcomes.
The market is also fuelled by the growing geriatric population worldwide. Older adults are more susceptible to chronic diseases, including Type 2 diabetes. The need for reliable and effective medications to manage diabetes in this demographic further accentuates saxagliptin market demand.
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In addition to these driving factors, collaborations, mergers, and partnerships amongst key pharmaceutical companies have fostered the global spread and accessibility of saxagliptin. These strategic alliances have not only facilitated market penetration in emerging regions but have also enhanced the production capacities, ensuring that the demand-supply gap is bridged efficiently.
As per the saxagliptin market analysis, North America, led by the United States, stands tall as a dominant force in the market. A well-established healthcare system, significant investments in R&D, and a notable prevalence of Type 2 diabetes have paved the way for saxagliptin’s dominance in this region.
Saxagliptin Market Segmentation
The market can be divided based on dosage, distribution channel, and region.
Market Breakup by Dosage
- 2.5 mg
- 5 mg
- Others
Market Breakup by Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global saxagliptin market. Some of the major players explored in the report by Expert Market Research are as follows:
- AstraZeneca plc.
- Wellona Pharma
- Others
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