PUBLISHER: The Business Research Company | PRODUCT CODE: 1572619
PUBLISHER: The Business Research Company | PRODUCT CODE: 1572619
Sodium glucose cotransporter 2 (SGLT2) inhibitors are a class of drugs designed to manage type 2 diabetes by blocking the SGLT2 protein in the kidneys. This action prevents the reabsorption of glucose, leading to its excretion in the urine and helping to lower blood glucose levels. In addition to their role in controlling blood sugar, SGLT2 inhibitors can aid in weight loss and lower blood pressure, and they offer additional cardiovascular and renal benefits, which are valuable for managing diabetic complications.
The main types of SGLT2 inhibitors include Invokana, Jardiance, Farxiga (or Forxiga), and Suglat. Invokana is a prescription medication used to reduce blood sugar levels in adults with type 2 diabetes. These medications are generally administered orally and are utilized by various end users such as hospitals, homecare settings, and clinics.
The sodium glucose cotransporter 2 (SGLT 2) inhibitors market research report is one of a series of new reports from The Business Research Company that provides sodium glucose cotransporter 2 (SGLT 2) inhibitors market statistics, including the sodium glucose cotransporter 2 (SGLT 2) inhibitors industry's global market size, regional shares, competitors with a sodium glucose cotransporter 2 (SGLT 2) inhibitors market share, detailed sodium glucose cotransporter 2 (SGLT 2) inhibitors market segments, market trends and opportunities, and any further data you may need to thrive in the sodium glucose cotransporter 2 (SGLT 2) inhibitors industry. This sodium glucose cotransporter 2 (SGLT 2) inhibitors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The sodium glucose cotransporter 2 (SGLT2) inhibitors market size has grown strongly in recent years. It will grow from $9.37 billion in 2023 to $10.17 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth observed during the historic period can be attributed to several factors, early successes in clinical trials, increasing regulatory approvals, a rise in diabetes diagnosis rates, and a growing demand for innovative treatments for diabetes.
The sodium glucose cotransporter 2 (SGLT2) inhibitors market size is expected to see strong growth in the next few years. It will grow to $14.19 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The anticipated growth during the forecast period can be attributed to several factors, the increasing prevalence of diabetes, rising obesity rates, greater awareness of diabetes management, and the expanding use of SGLT2 inhibitors in treating heart and kidney diseases. Key trends expected to shape this period include the integration of combination therapies, personalized medicine approaches, advancements in technology, and ongoing developments in traditional drug treatments.
The sodium glucose cotransporter 2 (SGLT2) inhibitor market is projected to expand due to the rising prevalence of diabetes. Diabetes is a group of metabolic disorders marked by high blood sugar levels, which arise from issues with insulin secretion, insulin action, or both. Factors contributing to the increase in diabetes cases include urbanization, stress, environmental pollutants, and inadequate access to healthcare services. SGLT2 inhibitors are used to treat diabetes by lowering blood glucose levels through preventing glucose reabsorption in the kidneys, leading to its excretion in urine. Additionally, these inhibitors provide cardiovascular and renal benefits, making them an important option for managing diabetes and its complications. The International Diabetes Federation reported in July 2021 that the number of people living with diabetes is expected to reach 643 million by 2030 and 783 million by 2045, with three-quarters of these individuals residing in low- and middle-income countries. This growing prevalence of diabetes is fueling the expansion of the SGLT2 inhibitor market.
Leading companies in the SGLT2 inhibitor market are focusing on developing dual inhibitor therapies to enhance patient outcomes and blood sugar management. Dual inhibitor therapies target both sodium-glucose cotransporters 1 and 2 (SGLT1 and SGLT2) to improve treatment efficacy for conditions such as heart failure and diabetes. For example, in May 2023, Lexicon Pharmaceuticals Inc., a U.S.-based biopharmaceutical firm, received FDA approval for sotagliflozin, a novel dual SGLT1 and SGLT2 inhibitor. This once-daily tablet is designed to reduce cardiovascular death, hospitalizations for heart failure, and urgent heart failure visits in adults with heart failure, type 2 diabetes, chronic kidney disease, and other cardiovascular risk factors. Sotagliflozin helps by reducing renal glucose and sodium reabsorption, leading to decreased preload and afterload, as well as reduced sympathetic activity.
In December 2022, Torrent Pharmaceuticals, an India-based pharmaceutical company, formed a partnership with Boehringer Ingelheim International GmbH to co-market diabetes and cardiovascular disease treatments. This collaboration aims to develop solutions for glycemic control in adults with type 2 diabetes mellitus. Empagliflozin, a product of this partnership, not only reduces the risk of cardiovascular death in individuals with type 2 diabetes and cardiovascular disease but also lowers the risk of cardiovascular death and hospitalizations for heart failure in adults with heart failure. Boehringer Ingelheim International GmbH, a Germany-based pharmaceutical company, specializes in developing and manufacturing health products for humans and animals.
Major companies operating in the sodium glucose cotransporter 2 (SGLT2) inhibitors market are Pfizer Inc., Johnson & Johnson Inc., Merck & Co. Inc., Bayer AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca plc, Eli Lilly and Company, Boehringer Ingelheim International GmBH, Astellas Pharma Inc, Daiichi Sankyo Company Limited, Sun Pharmaceutical Industries Ltd, Sumitomo Dainippon Pharma Co. Ltd., Taisho Pharmaceutical Holdings Co. Ltd., Lupin Limited, Glenmark pharmaceuticals, Torrent Pharmaceuticals Ltd, Mankind Pharma Ltd, Kissei Pharmaceutical Co. Ltd., Patsnap Synapse, Kotobuki pharmaceutical Co Ltd.
North America was the largest region in the sodium glucose cotransporter 2 (SGLT2) inhibitors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the sodium glucose cotransporter 2 (SGLT2) inhibitors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the sodium glucose cotransporter 2 (SGLT2) inhibitors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The sodium glucose cotransporter 2 (SGLT2) inhibitors market consists of sales of luseogliflozin, remogliflozin, tofogliflozin and sergliflozin. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Sodium Glucose Cotransporter 2 (SGLT2) Inhibitors Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on sodium glucose cotransporter 2 (SGLT2) inhibitors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for sodium glucose cotransporter 2 (SGLT2) inhibitors ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The sodium glucose cotransporter 2 (SGLT2) inhibitors market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.