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The global advanced glycation end products market is highly driven by increasing geriatric population suffering from diabetes and hypertension. Advanced glycation end products (AGEs) are a heterogeneous group of compounds and molecules that are produced from non-enzymatic reactions between reducing sugars or carbohydrates and amino groups on proteins, lipids, and nucleic acids. AGEs are known to accumulate in aging tissues and are associated with the pathogenesis of many degenerative diseases including diabetes, chronic kidney disease, Alzheimer’s disease, atherosclerosis, and other age-related diseases. AGE inhibitors and breakers have emerged as promising therapeutics to inhibit the formation and break the cross-links of existing AGEs, thus controlling pathological sequelae.
The global Advanced Glycation End Products Market is estimated to be valued at US$ 1.2 Billion in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the advanced glycation end products market is increasing prevalence of diabetes. According to World Health Organization (WHO), in 2019, around 463 million people had diabetes worldwide and it is estimated that by 2030, around 578 million people will have diabetes across the globe. Diabetes accelerates the formation of AGEs in the human body which lead to damage of bones, joints and other degenerative diseases. Thus, growing prevalence of diabetes has led to an increased demand for AGE inhibitors which block the accumulation of AGEs. Another key trend is rising funding for research and development of novel therapeutics to block AGE formation. Many pharmaceutical companies are focusing on innovative drug discovery and clinical trials for AGE inhibitor drugs to cater to the unmet needs of patients with diabetes and other chronic illnesses.
Porter’s Analysis
Threat of new entrants: The advanced glycation end products market faces moderate threat from new entrants given the high research and development costs required to develop new drugs and therapies.
Bargaining power of buyers: The bargaining power of buyers is moderate given the availability of alternative testing and therapeutic options.
Bargaining power of suppliers: The bargaining power of suppliers is moderate given the presence of a large number of suppliers and raw material providers in the market.
Threat of new substitutes: The threat of new substitutes is low as advanced glycation end products have limited substitutes for disease diagnosis and treatment.
Competitive rivalry: The competition in the market is high among the existing key players.
Key Takeaways
The global advanced glycation end products market is expected to witness high growth over the forecast period.
Regional analysis: North America is expected to dominate the global advanced glycation end products market during the forecast period owing to the rising prevalence of diabetes and growing geriatric population in the region. The market in Asia Pacific is expected to grow at a high rate due to increasing healthcare expenditure and improving access to diagnostic services in the region.
Key players: Key players operating in the advanced glycation end products market includes Thermo Fisher Scientific Inc., Merck KGaA, bioMérieux SA, Abbott Laboratories, Creative Diagnostics, YO Proteins AB, Proteolix AB, Epitope Diagnostics Inc. These players are focused on developing advanced diagnostics and therapeutics for disease conditions associated with advanced glycation end products.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
