Saxagliptin Market to Grow at a CAGR of 3.7% During the Forecast Period 2020-2025

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Jun 29, 2020 (The Expresswire) — Saxagliptin Market size is valued at $ 184Mn by 2019, and is anticipated to grow at a CAGR of 3.7% during the forecast period 2020-2025. The Saxagliptin Market growth rate is attributed to the increasing incidence of diabetes with changing lifestyle, reduced physical exercise that lead to diabetes, complexities in alternative therapies for diabetes, and high obesity. Saxagliptin is an oral anti-diabetic agent known as DPP IV inhibitor. This enzyme helps in suppressing the release of glucagon. Saxagliptin is used for medication of diabetes, as to boost the amount of postprandial insulin in the body produced after meal. From improvement’s made in regulatory framework to rise in number of product innovations and RandD activities in the field of diabetes therapeutics is anticipated to propel the Saxagliptin Market during the forecast period 2020-2025.

By Geography – Segment Analysis

North America dominated the Saxagliptin Market with a share of 39% in 2019. The application of Saxagliptin has grown rapidly over the last few years owing to the growing awareness among patients owing to large number of aging population and increasing prevalence of type II diabetes. With rising government funding and increasing healthcare expenditure on RandD are to cater the Saxagliptin Market in the forecast period of 2020-2025.

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Drivers Saxagliptin Market

Increase in Sedentary Lifestyle

The rise in demand of various products increased with rise in the type II diabetes cases owing to increasing sedentary lifestyle and junk food habits amongst various age groups and also the pool of patients belonging to the geriatric category is large which is considered as a Saxagliptin key driver of the market during the forecast period 2020-2025.

Challenges Saxagliptin Market

Strict regulations for approval of drugs

The major challenge for the market is the unavailability substitutes for treatment of diabetes with emerging large pool of geriatric patients. The stringent rules and regulations regarding the approval of drugs prior to distribution and sales is the major problem for some of the regions which is to hinder the market growth in the forecast period of 2020-2025.

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Saxagliptin Industry Outlook

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Saxagliptin Market. In 2019, Saxagliptin Market share is fragmented by the top ten players present in the market. Saxagliptin Market top 10 companies are Bristol-Myers Squibb Company, AstraZeneca Plc, Jubilant Life Sciences Limited, Hetero Drugs Limited, Farmak JSC, Centaur Pharmaceuticals, Teva Pharmaceutical Industries, Prajna Generics, Dr Reddy’s Laboratories Limited and others.

Acquisitions/Product Launches

In 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.

In 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.

Key Takeaways

North America dominated the Saxagliptin Market with a share of 37% in the year 2019.
The factors such as Increasing prevalence of obesity, increasing sedentary lifestyle and junk food habits thereby increasing incidence of type II diabetes are amongst the major factor projected to impel growth of Saxagliptin Market.

Increased government funding for innovative RandDs and increasing healthcare awareness are the key factors owing to the growth in the segment during forecast period 2020-2025.

Related Reports :

A. Diabetes Therapeutics Market

https://www.industryarc.com/Research/Diabetes-Therapeutics-Market-Research-502637

B. Obesity Management Market

https://www.industryarc.com/Report/16183/obesity-management-market.html

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