Gemigliptin Market is driven by Increasing Incidence of Type 2 Diabetes
The Gemigliptin market comprises DPP-4 inhibitors used for the treatment of type 2 diabetes. Gemigliptin aids in lowering blood sugar levels by preventing the degradation of incretins such as GLP-1 and GIP, which boost insulin secretion and suppress glucagon release. It demonstrates greater potency and prolonged action than traditional treatments. The oral medication offers cost-efficient blood sugar management and low risk of hypoglycemia.
The Global Gemigliptin Market is estimated to be valued at US$ 38.09 Bn in 2024 and is expected to exhibit a CAGR of 18.% over the forecast period 2024 To 2031.
Key players operating in the Gemigliptin market are IZEA, HYPR-DRIVE Ltd., Traackr, Launchmetrics, JuliusWorks, Inc., KLEAR, Upfluence, AspireIQ, Mavrck, Lumanu Inc., LINQIA, INC, InfluencerDB, ONALYTICA, Lefty, Social Beat, and Grapevine.
The surge in type 2 diabetes prevalence worldwide is expected to drive the Gemigliptins Market Demand for effective treatment alternatives such as Gemigliptin. Rising obesity and sedentary lifestyles have increased the risk of diabetes, especially in developing nations. Furthermore, leading pharmaceutical companies are extensively investing in R&D to develop novel DPP-4 inhibitors with enhanced potency and tolerability. This has prompted several market players to introduce generic versions of established drugs to capitalize on the high-growth opportunities.
The Global Gemigliptin Market is expanding rapidly as major players focus on geographical expansion plans and boost production capacities. The rising healthcare expenditure in developing countries also supports market growth. Furthermore, growing awareness regarding diabetes treatment and management supplements the demand for clinically validated medications.
Market drivers
The increasing geriatric population is a key driver contributing to the growth of the Gemigliptin market. Older adults are more prone to developing type 2 diabetes and exhibit greater medication adherence. As per estimates, over 50% of diabetes patients worldwide will be aged 65 years or above by 2045. Therefore, the aging demographics present sizable opportunities for antidiabetic drug manufacturers.
Geopolitical Impact on Gemigliptin Market Growth
The current geopolitical instability across various regions is having a notable influence on the gemigliptin market. The ongoing Russia-Ukraine war and sanctions have disrupted supply chains and manufacturing operations in Eastern Europe. This is negatively impacting the availability of key raw materials for gemigliptin production. Similarly, the COVID lockdowns in major Asian markets like China are causing production halts and delays in shipments. Such supply side challenges are hampering the market growth momentum in the short-term.
Furthermore, healthcare reforms and economic uncertainties in several developed nations are slowing down new prescriptions and sales revenues. To counter these adverse effects, companies must look at alternative sourcing routes, expand contract manufacturing facility footprint in other low-risk countries and shift marketing focus to high-potential emerging regions. Diversifying operations and supply networks can help mitigate political and economic risks in the future.
Fastest Growing Region for Gemigliptin Market
Looking ahead, the Gemigliptin Market Regional Analysis is expected to witness the fastest growth in the Asia Pacific region during the forecast period. This is due to ongoing development of healthcare infrastructure, growing penetration of medical insurance, rising investment by leading innovator companies and increasing focus on controlling diabetes by governments across emerging Asian countries.Furthermore, growing medical tourism hub across major Asian countries are supplementing growth.Additionally, changing lifestyles, rising obesity and geriatric population are fueling the diabetic patient base in Asia. These factors will boost the demand for advanced oral antidiabetic drugs like gemigliptin in the region.
Get More Insights on gemigliptin market
Discover the language that resonates with you-
About Author-
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Known for her strong SEO background, she skillfully blends SEO strategies with insightful content. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)