The Gemigliptin Market Size is valued at USD 1.66 billion in 2022 and is predicted to reach USD 2.65 billion by the year 2031 at a 5.5% CAGR during the forecast period for 2023-2031.
Gemigliptin belongs to the class of medicines known as dipeptidyl peptidase-4 (DPP-4) inhibitors. DPP-4 inhibitors are utilized to treat type 2 diabetes mellitus. These medications function by blocking the enzyme DPP-4, which is responsible for the breakdown of incretin hormones such as GLP-1 (glucagon-like peptide-1). The incidence of type 2 diabetes is a primary driver of diabetic medication demand.
The global Gemigliptin market has been steadily growing owing to the augumented prevalence of diabetes worldwide and the increasing acceptance of effective oral antidiabetic medications. Gemigliptin is expected to acquire popularity in the global market as demand for safer and more convenient diabetes treatment choices develops.However, the pandemic caused havoc in healthcare systems around the world. Patients' ability to get basic medical care, particularly diabetes management, may have been hampered by lockdowns, restricted movement, and overcrowded healthcare facilities. This may have an impact on the prescription and use of drugs such as gemigliptin.
Competitive Landscape
Some of the Gemigliptin Market players are:
- LG Chem
- Hanmi Pharmaceutical Co., Ltd.
- Boryung Pharmaceutical Co., Ltd.
- Novartis AG
- EirGenix, Inc.
- Biocon Limited
- L. Pharma GmbH
- Daewoong Pharmaceutical Co., Ltd.
- Sandoz International GmbH
- Boryung Pharmaceutical Co., Ltd.
- VHB Life Sciences Limited
- HanAll Biopharma
- Taiba Healthcare
- Huons Co., Ltd.
- Dong-A ST Co., Ltd
Market Segmentation:
The Gemigliptin Market is segmented on the basis of type of drug, dosage form, distribution channel, end-user, application, and patient demographics. Type of drug includes Gemigliptin Monotherapy and Gemigliptin Combination Therapy. The dosage form segment includes Gemigliptin Tablets and Gemigliptin Injectable. Distribution channel includes Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. The end-user segment includes Hospitals, Clinics and Outpatient Facilities, and Homecare Settings. By application, the market is segmented into Type 2 diabetes and Prediabetes. Based on patient demographics, the market is segmented into Adult Population and Geriatric Population.
Based On Application, The Type 2 Diabetes Segment Is Accounted As A Major Contributor In The Gemigliptin Market.
The Type 2 diabetes category is expected to hold a significant share of the global Gemigliptin Market in 2022. The worldwide rise of type 2 diabetes prevalence creates a larger patient pool needing efficient treatment alternatives. This rising need may propel the market for drugs such as gemigliptin. The efficacy of gemigliptin and other DPP-4 inhibitors in controlling blood glucose levels is a major market driver. Positive clinical trial data confirming their ability to lower HbA1c levels and enhance glycemic management may persuade physicians to prescribe these drugs.
The Adult Population Segment Witnessed Growth At A Rapid Rate.
The adult population segment is projected to grow at a rapid rate in the global Gemigliptin Market. The raised prevalence of type 2 diabetes in the adult population raises the need for effective treatments. Ageing can have an impact on glucose metabolism and insulin sensitivity. Medications like gemigliptin, which targets the underlying processes of diabetes, can aid in managing blood sugar levels in this population. Gemigliptin is one of the diabetes treatment choices accessible, and its popularity is tied to the growing number of adults diagnosed with the disease.
In The Region, The North America Gemigliptin Market Holds A Significant Revenue Share.
The North America Gemigliptin Market is projected to register the highest market share in terms of revenue shortly due to the region's high prevalence of type 2 diabetes. With a huge diabetic population and a well-established healthcare system, the United States, in particular, is a key contributor to the market. The availability of excellent medical facilities and favorable reimbursement policies for diabetes medications promote the growth of the Gemigliptin market in North America.
Furthermore, Asia Pacific is expected to rise rapidly over the forecast period, owing to an increasing diabetic population in countries such as China, India, and Japan. The region's vast population, urbanization, and changing lifestyles have resulted in an alarming surge in diabetes incidence. As the region's healthcare infrastructure improves and diabetes management knowledge grows, the need for effective oral antidiabetic drugs such as Gemigliptin is likely to rise.
Gemigliptin Market Report Scope
|
Report Attribute |
Specifications |
|
Market size value in 2022 |
USD 1.66 Bn |
|
Revenue forecast in 2031 |
USD 2.65 Bn |
|
Growth rate CAGR |
CAGR of 5.5 % from 2023 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments covered |
By Type of Drug, By Dosage Form, By Distribution Channel, By End-User, By Patient Demographics |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
LG Chem, Hanmi Pharmaceutical Co., Ltd., Boryung Pharmaceutical Co., Ltd., Novartis AG, EirGenix, Inc., Biocon Limited, G.L. Pharma GmbH, Daewoong Pharmaceutical Co., Ltd., Sandoz International GmbH, Boryung Pharmaceutical Co., Ltd., VHB Life Sciences Limited, HanAll Biopharma, Taiba Healthcare, Huons Co., Ltd., Dong-A ST Co., Ltd. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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