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Sulfonylureas Market – Segmented by Drugs, and Geography – Growth, Trends, and Forecast (2020 - 2025)

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Sulfonylureas are one among the most consumed oral anti-diabetic drugs. The prominent driver for the growth of the Sulfonylureas market is significant growth in the global type 2 diabetic population. The drug is most preferred due to its low cost when compared to other diabetic drugs. The Sulfonylureas market is expected to witness a CAGR of about 2.69% from 2018 to 2023. The global Sulfonylureas market is expected to reach USD 7028.27 million by 2023.Sulfonylureas helps in controlling high blood sugar levels for patients with type 2 diabetes. Thus preventing kidney damage, blindness, nerve problems, loss of limbs, and other function problems. The drugs main functions bring the blood glucose level down by increasing the amount of insulin produced by beta cells.

The market for Sulfonylureas is directly proportional to the growing type 2 diabetic population. In most of the cases Sulfonylureas are the Second line of drugs prescribed for type 2 patients. Over the years global diabetic population increased tremendously and type 2 population accounts for almost 90% of the diabetic population. The Sulfonylureas class of drugs have been in existence form a long time thus the market for the drugs has reached saturation thus the growth during the forecast period is expected to be moderate. The major restrain for the Sulfonylureas is that though it is perceived as a first line of therapy drug it is mostly substituted by metformin. 

 

North American region has high number type 2 diabetic population. Thus the sales of Sulfonylureas is high in these region. North America accounts for close to 44.01% of the global market share of Sulfonylureas. The republic of china has one of the largest type 2 population in the world. The type 2 population would increase from 103.08 million to 120.37 million by 2023. The market for Sulfonylureas market in China is USD 945.91 million in 2017 and is expected reach USD 1235.79 million by 2023. 

                          

Source: Mordor Intelligence Analysis

Key Players: Mylan, Teva, Takeda, Ranbaxy/Sun Pharma, Actavis, GlaxoSmithKline, Merck, Bristol-Myers Squibb, Boehringer Ingelheim Pharmaceuticals

Key Developments:

Feb 2018: Adults with type 2 diabetes prescribed glyburide may have lower risks for sudden cardiac arrest and ventricular arrhythmia compared with those prescribed glipizide and glimepiride.

Report Scope:

Attribute

Details

Base year for estimation

2017

Review Period

2012-2017

Forecast Period

2018 – 2023

Market Representation

Revenue in USD million and CAGR from 2018 – 2023

Regions covered

Global

Report coverage

Revenue forecast and market dynamics

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