Diabetes mellitus is not only a chronic disease itself, but it also augments various other chronic diseases such as cardiovascular diseases (increased threat of heart attack and congestive heart failure), renal failure, hepatic disorders, immunodeficiency, loss of vision, brain and nervous system disorders, and impaired injury healing time. Diabetes is broadly classified into type 1 and type 2 diabetes. Type 1 diabetes occurs most frequently in children and young adults, although it can occur at any age. Insulin is the hormone necessary for processing glucose. Type 1 diabetes was formerly known as ‘insulin-dependent diabetes mellitus.’ Hence insulin must be supplied to the patients with type 1 diabetes.Type 2 diabetes patients suffer from insulin resistance, which may be coupled with relative reduction in insulin secretion. The specific defects that lead to insulin resistance are unknown. Type 2 diabetes is the most common type of diabetes. It was formerly known as ‘non-insulin dependent diabetes mellitus. Insulin secretagogues, commonly known as insulin releasing pills, are a type of medicine for type 2 diabetes. People suffering from type 2 diabetes fail to make enough insulin to maintain normal blood glucose levels. Insulin secretagogues stimulate the pancreas to secrete insulin in type 2 diabetes patients. Sulphonylureas, a type of insulin secretagogue, was developed in 1920s and has been effectively used to manage type 2 diabetes. Sulphonylureas enhances the sensitivity of beta cells to glucose and thus stimulates pancreas to secrete insulin.
The global insulin secretagogues market is expected to expand at a significant pace during the forecast period. Type 2 diabetes is primarily caused by lifestyle factors such as poor diet, obesity, stress, lack of physical activity, and urbanization. Genetics can also determine predisposition to type 2 diabetes. High prevalence of type 2 diabetes is the key factor for expansion in the global insulin secretagogues market. According to various studies, its prevalence varies from 90% to 95% across the globe. Aging population is expected to increase the incidence of type 2 diabetes, which is likely to drive the global insulin secretagogues market. Certain side effects such as hypoglycemia and weight gain are associated with the long term use of insulin secretagogue.
The global insulin secretagogues market can be segmented based on type, distribution channel, and region. In terms of type, the market can be divided into sulfonylureas and glinides. Sulfonylureas can be further split into first generation sulfonylureas and second generation sulfonylureas. First generation sulfonylureas comprise drugs such as Tolbutamide and Chlorpropamide. Second generation sulfonylureas comprise drugs such as Glimepiride, Glipizide, and Glyburide. Glinides include drugs such as Repaglinide and Nateglinide. These drugs cause inhibition of potassium efflux, causing depolarization and release of insulin from pancreatic β-cells. Based on distribution channel, the global insulin secretagogues market can be classified into hospital pharmacies, online pharmacy, retail pharmacy, and diabetes clinics.
Geographically, the global insulin secretagogues market can be segmented into five major regions: North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America and Europe dominate the global insulin secretagogues market due to high prevalence of diabetes in these regions. Asia Pacific is a highly attractive market for insulin secretagogue. A significant proportion of the population in India and China is diabetic. Also, increase in awareness about insulin secretagogue is fueling the growth of the market in the region. Latin America and Middle East & Africa are emerging markets for insulin secretagogue. The market in these regions is expected to expand at a significant pace during the forecast period.
Key players in the global insulin secretagogues market include Kissei Pharmaceutical Co., Ltd., Dainippon Sumitomo Pharma Co., Ltd., Eli Lilly and Company, and Biocon Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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