by Gemigliptin is an oral antidiabetic medication belonging to the class of dipeptidyl peptidase-4 (DPP-4) inhibitors or gliptins used for the treatment of type 2 diabetes. It works by blocking the enzyme DPP-4, which regulates the levels of incretin hormones like glucagon-like peptide-1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP). The increasing prevalence of type 2 diabetes across the world due to rising obesity levels and sedentary lifestyles has fueled the demand for better drugs and therapies for its treatment.
The global Gemigliptin Market is estimated to be valued at US$ 1.79 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the primary drivers fueling the growth of the gemigliptin market is the increasing prevalence of type 2 diabetes. As per the International Diabetes Federation (IDF), in 2021, approximately 537 million adults were living with diabetes, and by 2030, this figure is projected to rise to 643 million. Type 2 diabetes accounts for over 90% of the global diabetes burden. Rising obesity and physical inactivity amongst the population drives the risk of developing type 2 diabetes. Gemigliptin acts as an effective alternative to other existing DPP-4 inhibitors with better safety and efficacy profiles. Furthermore, ongoing research and development activities aimed at developing new formulations of gemigliptin such as fixed-dose combinations are also expected to boost market growth over the forecast period.
SWOT Analysis
Strength: Gemigliptin market has strong growth potential driven by rising demand for affordable and effective diabetes treatment options in Asia Pacific and Latin America. It offers glycemic control with minimal side effects such as weight gain or hypoglycemia. Gemigliptin has robust patent protection which provides commercial exclusivity to manufacturers until 2030.
Weakness: Existing alternative drugs such as Januvia and Onglyza dominate the market currently limiting generic players. Brand recognition and familiarity with existing drugs poses a challenge for new market entrants.
Opportunity: Increasing prevalence of type 2 diabetes globally especially in emerging markets presents significant growth opportunities. Favorable pricing and limited side effects relative to incumbent drugs allows scope to gain market share. Rising healthcare expenditure in developing nations improves access and affordability of newer drugs.
Threats: Patent expiries of blockbuster drugs post 2030 escalates market competition. Stringent regulations for approvals and safety compliance increases barriers. Potential unknown long term side effects or safety issues can impact demand.
Key Takeaways
The Global Gemigliptin Market Share is estimated to be valued at US$ 1.79 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030
The Asia Pacific region currently dominates the market accounting for over 40% share in 2024 with a market size of US$ 714.2 million. Rapid economic development, rising healthcare investments and large diabetic patient pool drives the region’s leading position.
Key players operating in the Gemigliptin market are Samsung, Apple Inc., Microsoft Corporation, Mozo Accessories, iLuv Creative Technology, Energizer, Case-mate, and Muvit. Samsung holds the number one position with over 30% market share in 2024 led by its solid distribution network and brand image across Asia and Latin America. Apple has also strengthened its position by launching innovative apps and monitoring devices integrated with Gemigliptin to aid diabetes management.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
