Saxagliptin Market Segment Analysis By Dosage:
The Saxagliptin Market based on dosage can be further segmented into 2.5 Mg and 5 Mg. The 2,5 Mg Segment held the largest market share in 2021. This growth is owing to the increasing application of dipeptidyl peptidase iv inhibitor termed Saxagliptin in its 2.5 Mg Oral tablet form for treatment of type 2 diabetes mellitus. The capability of Saxagliptin to be utilized in conjunction with diet and exercise to curb blood sugar in mature grown-ups with type diabetes is further propelling the growth of the genome engineering segment.
Furthermore, the 5 Mg segment is estimated to grow with the fastest CAGR of 4.8% during the forecast period 2022-2027 owing to the heightening application of Onglyza 5 mg film-coated tablets where every tablet includes 5 mg saxagliptin (as hydrochloride) which is a dipeptidyl peptidase iv inhibitor.
Saxagliptin Market Segment Analysis By Distribution Channel
The Saxagliptin Market based on distribution channels can be further segmented into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies. The Online Pharmacies Segment held the largest market share in 2021. This growth is owing to the increasing utilization of online pharmacies for the sale of dipeptidyl peptidase iv inhibitors like saxagliptin amidst the global lockdowns and stay-at-home restrictions in the wake of the COVID-19 pandemic. The ease of use of online channels like MedPlus and Prescription Hope while staying in the comfort of home is further propelling the growth of this segment.
Furthermore, the Hospital Pharmacies segment is estimated to grow with the fastest CAGR of 4.9% during the forecast period 2022-2027 owing to the burgeoning utilization of hospital pharmacies for the sale of dipeptidyl peptidase iv inhibitors like saxagliptin as life returns to pre-pandemic normalcy.
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Saxagliptin Market Segment Analysis By Geography
The Saxagliptin Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Saxagliptin Market) held the largest share with 36.4% of the overall market in 2021. The growth of this region is owing to the increasing predominance of type 2 diabetes requiring the increased application of dipeptidyl peptidase iv inhibitors like Saxagliptin and an enormous population of the elderly in the region. The upsurge in government financing and soaring healthcare spending on R&D are further propelling the growth of the Saxagliptin Market in the North American region.
Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like the proliferating population in countries like India and China in the region. The expanding government financing and the surging spending on healthcare in conjunction with the heightening application of dipeptidyl peptidase iv inhibitors like Saxagliptin in the region are fuelling the progress of the Saxagliptin Market in the Asia-Pacific region.
Saxagliptin Market Drivers
Increasing Predominance Of Diabetes Is Projected To Drive The Growth Of Saxagliptin Market:
As per World Health Organization (WHO), diabetes was the ninth chief cause of demise with an approximated 1.5 million demises directly brought about by diabetes in 2019. Further updates from WHO indicate that a healthy diet, daily physical activity, keeping up normal body weight, and refraining from the usage of tobacco are ways to avert or restrict the beginning of type 2 diabetes. Saxagliptin, marketed under the brand name Onglyza, is an oral hypoglycemic (anti-diabetic medication) of the dipeptidyl peptidase iv (DPP-IV) inhibitor class. Metformin monotherapy may also be performed for the treatment of metformin monotherapy. Saxagliptin restricts DPP-IV, an enzyme accounting for the disintegration of GLP-1. By postponing GLP-1 degeneration, saxagliptin boosts the action of insulin while also restraining the discharge of glucagon. This results in a minimization in raised blood glucose levels that characterizes type 2 diabetes. The surging application of Saxagliptin to treat type 2 diabetes is fuelling the growth of the Saxagliptin Market during the forecast period 2022-2027.
Surging Application Of Saxagliptin For Treatment Of Obesity Is Expected To Boost The Demand Of Saxagliptin:
As per World Health Organization (WHO), 1.9 million mature grown-ups globally were overweight in 2016, with 650 million obese. Obesity is a principal cause of type 2 diabetes. ACCES (Acute and Chronic Effects of Saxagliptin) is an arbitrary, placebo-controlled, double-blind, controlled phase 2 pilot investigation that looks to evaluate obese patients with diminished glucose tolerance and the acute effects consequent to 12 weeks of saxagliptin treatment which is a medication of dipeptidyl peptidase iv (DPP-IV) inhibitor class on glucose levels at fasting and postprandially following breakfast. The investigation was conducted at Jean Verdier University Hospital in Bondy, France. It was endorsed by both the local ethics committee and by the French National Agency for Drug Security. The investigation had two parts. The first part was to investigate the acute and chronic impacts of saxagliptin vs placebo on glucose tolerance. The second was the acute and chronic effect of saxagliptin vs. placebo on micro and macrovascular parameters. Based on the investigation, saxagliptin has positive metabolic advantages in obese glucose-intolerant patients. It can decrease postprandial plasma glucose levels without having harmful impacts on body weight. Saxagliptin also enhanced the glycemic status of the patient post 12 weeks of treatment. For most of the patients in this investigation, glucose levels normalized. The extensive application of Saxagliptin for the treatment of obesity is therefore driving the growth of the Saxagliptin Market during the forecast period 2022-2027.
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Saxagliptin Market Challenges
Limitations Of Application Of Saxagliptin Present Challenges To The Growth Of The Saxagliptin Market:
Saxagliptin is not recommended for the treatment of type 1 diabetes mellitus or diabetic ketoacidosis, owing to its ineffectiveness in these settings. Saxagliptin tablets should not be ruptured or divided. Raised hazard of hypoglycemia with concomitant sulfonylureas, dose minimization may be essential. Raised serum levels with CYP3A4/5 inhibitors like atazanavir, ketoconazole, nefazodone, and ritonavir. Concomitant CYP3A4 inducers like carbamazepine and phenobarbital may minimize the glycaemic reducing impact of saxagliptin. Side effects include pancreatitis, heart failure, hypoglycemia with concomitant application of sulfonylurea or insulin, hypersensitivity reactions, serious and disabling arthralgia, and bullous pemphigoid. The limitations of the application of Saxagliptin are hampering the growth of the Saxagliptin Market.
Saxagliptin Industry Outlook
Product launches, mergers and acquisitions, Joint ventures, and geographical expansions are key strategies adopted by players in the Market. Saxagliptin top 10 companies include:
Bristol-Myers Squibb Company
Jubilant Life Sciences Limited
Teva Pharmaceutical Industries
Dr Reddys Laboratories Limited Hetero Drugs Limited
In December 2020, AstraZeneca, filed a definitive agreement to gain U.S. biotechnology group Alexion Pharmaceuticals for $39bn, turning it into the largest deal struck by a pharmaceutical firm since the commencement of the pandemic. Under the terms of the deal, Alexion shareholders will accept $60 in cash and 2.1243 AstraZenecas shares for each Alexions share. The transaction values Alexion at $175 per share, a 48% premium to its closing price 5 days prior to the declaration.
In November 2020, Bristol Myers Squibb declared that it has favorably finished its acquisition of MyoKardia, Inc. in an all-cash transaction for nearly $13.1 billion. With the accomplishment of the acquisition, MyoKardia shares have stopped trading on the NASDAQ Global Select Market and MyoKardia is presently a completely-owned subsidiary of Bristol Myers Squibb. By way of the transaction with MyoKardia, Bristol Myers Squibb acquires mavacamten, a possible first-in-class cardiovascular medication for the treatment of obstructive hypertrophic cardiomyopathy (HCM), an incessant heart ailment with great morbidity and patient effect.
In September 2020, Centaur Pharmaceuticals declared the introduction of a New Chemical Entity (NCE) WOXheal. With its two-fold mechanism of activity, WOXheal is a rare product in diabetic foot ulcer treatment. It will rescue millions of diabetic patients who have to endure foot amputation worldwide.
Geographically, North America Saxagliptin Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increasing population of the elderly requiring surging application of screening tests like oral glucose tolerance tests and the surging sedentary lifestyle in the North American region.
Saxagliptin Market growth is being driven by the proliferating government financing and an upsurge in the intake of junk food subsequently requiring screening tests like oral glucose tolerance tests. However, Saxagliptin may bring about complexities like stroke and heart attack and this is one of the major factors hampering the growth of the Saxagliptin Market.
Saxagliptin Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Saxagliptin Market report.
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