The coronavirus pandemic has impacted the global Antidiabetics market in a positive way. Unavailability of cure for diabetes and vulnerability of diabetic patients to COVID-19 has enhanced the demand for anti-diabetic drugs across the global. Leading players of the market are predicted to unlock vibrant opportunities for the growth of the market in the forthcoming years by taking various initiatives.
The latest research report on the global antidiabetics market by Research Dive reflects the influence of COVID-19 pandemic on the present and forthcoming growth of the global market. This report is a professional and comprehensive research formulated by specialists by evaluating top driving factors, major regional market situations, opportunities & future scope, and trends & developments in the market during the COVID-19 catastrophe.
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• Highlights of the Report
The global antidiabetics market has witnessed remarkable growth in the previous years. The sudden outbreak of coronavirus has impacted the market bringing even more chances of growth. As per the report, the global antidiabetics industry is expected to register a revenue of $148.3 by 2027, growing at a CAGR of 11.1% during the forthcoming years. In the current situation, the market has garnered $70.9 million because of the growing demand of anti-diabetic drugs.
• Factors Driving the Market Growth amid COVID-19 Pandemic
As per our analysts, the growing cases of diabetes and non-availability of the permanent cure for diabetes has compelled people to adopt anti-diabetics drug. Moreover, people with diabetes are more vulnerable to coronavirus. These are the factors driving the growth of global antidiabetics market.
• Current COVID-19 Impacted Scenario of the Market:
The leading players of the market are focused on developing new, innovative strategies to sustain the market growth.
In February 2020, Oramed, is a clinical pharmaceutical organization concentrated on the advancement of drug delivery system, has announced found positive data from its oral insulin “ORMD-0801” while conducting efficacy and safety trails at lower dosage regimens. ORMD-0801 is the first commercially accessible oral insulin tablet for the diabetic treatment.
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• Future Scope of the Market:
According to the report, the global antidiabetics market is projected to maintain a sustainable growth post the pandemic.
New entrants and leading players including Eli Lilly and Company, Sanofi, Johnson & Johnson Services, Inc., Boehringer Ingelheim International GmbH, Takeda Pharmaceutical Company Limited, Halozyme, Inc., Merck Sharp & Dohme Corp., Novartis AG, Bristol-Myers Squibb Company, Oramed and Pfizer Inc. among others.
The report also summarizes other important aspects of the key players including financial performance, product portfolio, SWOT analysis, and recent strategic moves and developments.
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