The gemigliptin market has witnessed considerable growth over the past few years due to increasing prevalence of diabetes worldwide. Gemigliptin is a highly efficacious drug used for the treatment of type 2 diabetes. It helps in lowering blood sugar levels by inhibiting dipeptidyl peptidase-4 (DPP-4) enzyme activity. Gemigliptin offers several advantages over conventional anti-diabetic drugs including fewer side effects, minimal risk of weight gain and hypoglycemia. Furthermore, it does not require dose adjustment in case of renal impairment, which makes it an attractive treatment option.
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. Gemigliptin has demonstrated promising clinical efficacy and safety in patients with type 2 diabetes. It provides better glycemic control and is well-tolerated with fewer side effects than other DPP-4 inhibitors.
The rise in geriatric population worldwide prone to develop diabetes and growing health awareness are some of the major factors fueling the Gemigliptins Market Demand. Rapid digitalization and smartphone penetration have enabled key players to leverage various digital marketing platforms to generate brand awareness and boost sales.
Rising prevalence of diabetes across the globe due to growing obese population and sedentary lifestyles is a key factor driving the growth of gemigliptin market. According to International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021 worldwide and the number is projected to rise to 643 million by 2030 and 783 million by 2045. In addition, growing health consciousness and adoption of lifestyles changes to manage diabetes has further augmented the demand for efficacious drugs. Technological advancements in drug delivery systems have led to development of convenient formulations like tablets, capsules with enhanced bioavailability and extended-release profile.
Market Trends
- Oral extended-release formulations: Major players are focusing on developing oral extended-release versions of gemigliptin with lower dosing frequency to improve adherence. These offer steady drug levels for 24 hours with once daily dosing.
- Fixed-dose combinations: There is rising popularity of FDCs containing gemigliptin with other agents like metformin. This allows management of diabetes with a single tablet and enhances compliance.
Market Opportunities
- Emerging markets: Markets in Asia Pacific, Latin America, Africa and Middle East offer lucrative opportunities for players due to rising diabetes incidence and growing healthcare spending.
- Online pharmacies: Increased product availability through online pharmacies and e-retailers along with heavy digital promotions has augmented accessibility and consumer base over the last few years.
Impact of COVID-19 on Gemigliptin Market
The COVID-19 pandemic has negatively impacted the growth of the gemigliptin market. Strict lockdowns imposed by various governments globally led to disrupted supply chains and halted production activities for a certain period. This affected the availability of gemigliptin drugs in the market. Doctors also became hesitant in prescribing new medications to patients amidst the pandemic fearing potential adverse drug interactions.The reduced patient visits to clinics and hospitals for managing diabetes also declined to prevent virus exposure further impacting sales. However, with vaccination drives gaining pace and economies steadily reopening, gemigliptin market is expected to recover steadily. Manufacturers are ramping up production with safety protocols to meet the pent up demand. Teleconsultations and online pharmacies have also aided sustained availability and access of diabetes drugs including gemigliptin.
In terms of Gemigliptin Market Regional Analysis, North America has been the largest gemigliptin market in terms of value owing to high healthcare spending and growing diabetes prevalence in countries like the US. Within North America, the US accounts for the major share due to favorable reimbursements and presence of key pharma companies.
Asia Pacific region is poised to be the fastest growing market for gemigliptin driven by expanding patient pool, rising healthcare standards and growing economies in India and China. . Growing awareness about management of diabetes and increasing healthcare investments in countries like India, China, South Korea and others is slated to boost gemigliptin uptake in Asia Pacific region in the forecast period.
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