ID: MRFR/Pharma/3146-HCR | February 2021 | Region: Global | 95 pages
Hyperglycemia is an excess of glucose in the bloodstream, and is often associated with diabetes mellitus. It occurs when the body does not have enough insulin to control the sugar level or unable to produce the insulin. Furthermore, hyperglycemia if remains untreated may cause serious complications such as nerve damage or neuropathy, kidney damage, kidney failure, cardiovascular disease, eye disease, and skin problems such as bacterial and fungal infections. The major signs of hyperglycemia are polydipsia (a great thirst), polyuria (a need to urinate often), and a dry mouth.
Increasing prevalence of diabetes, and growing investment in biotechnology and pharmaceutical industries, and rising need for the better treatment methods drive the growth of the Hyperglycemia Treatment Market.
According to the WHO, the global prevalence of diabetes among adults over 18 years of age has risen from 4.7% in 1980 to 8.5% in 2014. Where as in 2015, 1.6 million deaths were caused due to diabetes. Another, 2.2 million deaths were attributed to high blood glucose level in 2012.
According to the WHO estimates, neurological disorders are responsible for 4.5%-11% of all illnesses including low or high income economies across the globe. This is higher than the number of respiratory ailments, gastrointestinal disorders, or cancers, and the burden is expected to increase further over the coming years.
Moreover, increasing awareness about diabetes care and management, and advancing technology in medical devices are adding fuel to the growth of the market. Furthermore, increasing prevalence of obesity and consumption of unhealthy diet also drive Hyperglycemia Treatment Market growth.
However, availability of expensive treatment and poor reimbursement policy are some of the factors, which may slow the Hyperglycemia Treatment Market growth during the forecast period.
The hyperglycemia treatment market is expected to grow at a CAGR of 9.8 % during the forecast period 2017-2023.
Sources: Annual reports, Press release, White paper, Company presentation
The hyperglycemia treatment market is segmented on the basis of treatment, mode of administration, and end user.
On the basis of treatment, it is segmented into fluid replacement, electrolyte replacement, insulin therapy, and drugs. The drugs segment is further segmented into sulfonylureas, biguanides, thiazolidinediones, and others.
On the basis of mode of administration, it is segmented into topical, oral, and others.
On the basis of end user, the market is segmented into hospitals & clinics, retail pharmacy, and others
The Americas dominates the hyperglycemia treatment market owing to well-developed technology, increasing patient with diabetes, increasing prevalence of neurological disorders, increasing patient population of kidney failure caused by severe hyperglycemia, high healthcare spending, and increasing government support for research & development. Furthermore, increased R&D activities and the concentration of major companies have fuelled the growth of the market in this region.
Europe holds the second position in the hyperglycemia treatment market owing to the government support for research & development and availability of funds for research. This is expected to continue to drive the European market over the forecasted period. For instance, countries like Germany and France are increasing investment in the healthcare domain.
Asia Pacific is the fastest growing hyperglycemia treatment market owing to the presence of rapidly developing healthcare technology, huge patient population, and high healthcare expenditure. Moreover, increasing demand for new treatment methods in countries like India and South Korea is likely to emerge as the fastest growing market across the globe. Furthermore, increasing demand for quality devices in the healthcare projected to lead to the use of advanced equipment, which, in turn, will increase the market growth of the hyperglycemia treatment in the region.
On the other hand, the Middle East & Africa holds the least share of the market due to limited availability of medical facilities, less availability of funds, and poor political conditions in Africa.
Some of key the players in the market are Novo Nordisk A/S, Merck & Company Inc., Medtronic, Johnson & Johnson Services, Inc. , Teva Pharmaceuticals Ltd., Eli Lilly and Company, Sanofi S.A., Home Diagnostics, Bayer AG, Bristol-Myers Squibb., and Abbott.
Sources: Annual reports, Press release, White paper, and Company presentation
Frequently Asked Questions (FAQ) :
Hyperglycemia treatment market is projected to grow at a 9.8% CAGR between 2020-2027.
The Americas is expected to dominate the hyperglycemia treatment market.
Key end users of the hyperglycemia treatment market include retail pharmacy, hospitals and clinics, and others.
Poor reimbursement policy and high treatment cost may limit the hyperglycemia treatment market growth.
Notable players profiled in the hyperglycemia treatment market include Abbott, Bristol-Myers Squibb., Bayer AG, Home Diagnostics, Sanofi S.A., Eli Lilly and Company, Teva Pharmaceuticals Ltd., Johnson & Johnson Services, Inc., Medtronic, Merck & Company Inc., and Novo Nordisk A/S.