Market Size –
The empagliflozin, dapagliflozin and canagliflozin market size has grown steadily in recent years. It will grow from $9.41 billion in 2023 to $9.64 billion in 2024 at a compound annual growth rate (CAGR) of 2.4%. The growth in the historic period can be attributed to the increase in the prevalence of type 2 diabetes globally, increased awareness about the benefits of SGLT2 inhibitors, growth in the elderly population, growth in the prevalence of obesity, and increase in focus on personalized medicine.
The empagliflozin, dapagliflozin and canagliflozin market size is expected to see steady growth in the next few years. It will grow to $10.78 billion in 2028 at a compound annual growth rate (CAGR) of 2.8%. The growth in the forecast period can be attributed to increasing demand for oral diabetes medications, increasing investments in diabetes research and drug development, increasing healthcare expenditure, rising awareness and diagnosis of pre-diabetes conditions, and increasing focus on combination therapies. Major trends in the forecast period include technological advancements, combination therapies, telehealth, health data analytics, and patient data security.
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Scope Of Empagliflozin, Dapagliflozin And Canagliflozin Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Empagliflozin, Dapagliflozin And Canagliflozin Market Overview
Market Drivers –
The increasing prevalence of diabetes is expected to propel the growth of the empagliflozin, dapagliflozin, and canagliflozin market going forward. Diabetes presents as a persistent health issue marked by high blood sugar levels stemming from inadequate insulin production or the body’s ineffective utilization of insulin. The increasing prevalence of diabetes can be attributed to factors such as sedentary lifestyles, unhealthy dietary habits, genetic predisposition, urbanization, and aging populations, compounded by limited access to healthcare and rising obesity rates worldwide. Empagliflozin, dapagliflozin, and canagliflozin are used in diabetes management to lower blood sugar levels by inhibiting sodium-glucose co-transporter-2 (SGLT2) in the kidneys, promoting the excretion of glucose through urine. For instance, in 2021, according to the International Diabetes Federation, a Belgium-based non-profit organization, the projected number of individuals living with diabetes is expected to increase to 643 million by 2030 and 783 million by 2045. Therefore, the increasing prevalence of diabetes is driving the growth of the empagliflozin, dapagliflozin, and canagliflozin market.
Market Trends –
Major companies operating in the empagliflozin, dapagliflozin, and canagliflozin markets are focusing on developing innovative products, such as pediatric type-2 diabetes treatment, to address broader patient demographics and expand their market reach in diabetes care. Pediatric Type-2 diabetes treatment involves managing blood sugar levels through lifestyle changes, medications, and sometimes insulin therapy tailored specifically for children and adolescents. For instance, in June 2024, AstraZeneca, a UK-based pharmaceutical company, announced that the US Food and Drug Administration (FDA) had approved Farxiga (dapagliflozin) to improve glycemic control in pediatric patients aged 10 years and older with type 2 diabetes. This approval is based on positive results from the T2NOW Phase III clinical trial, one of the most extensive pediatric type-2 diabetes trials to date, which showed that Farxiga significantly reduced HbA1c levels compared to placebo. The safety profile of Farxiga in this patient population was consistent with that observed in adults with type-2 diabetes. This approval is an important milestone, as oral treatment options for pediatric type-2 diabetes have been limited, and it underscores AstraZeneca’s commitment to delivering innovative treatments across cardiovascular, renal, and metabolic diseases.
The empagliflozin, dapagliflozin and canagliflozin market covered in this report is segmented –
1) By Type: Empagliflozin, Dapagliflozin, Canagliflozin
2) By Application: Application I, Application II, Application III, Application IV
3) By Channel: Hospital, Pharmacy
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Regional Insights –
North America was the largest region in the empagliflozin, dapagliflozin and canagliflozin market in 2023. The regions covered in the empagliflozin, dapagliflozin and canagliflozin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the empagliflozin, dapagliflozin and canagliflozin market are Pfizer Inc., Merck & Co. Inc., Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline plc, Eli Lilly and Company, Boehringer Ingelheim GmbH, Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc., MSN Laboratories Private Limited, Dr. Reddy’s Laboratories Ltd., Aurobindo Pharma Limited, Cipla Limited, Cadila Healthcare Limited, Apotex Inc., Lupin Limited, Biocon Limited, Alkem Laboratories Ltd., Torrent Pharmaceuticals Ltd., Alembic Pharmaceuticals Ltd., Intas Pharmaceuticals Ltd.
Table of Contents
1. Executive Summary
2. Empagliflozin, Dapagliflozin And Canagliflozin Market Report Structure
3. Empagliflozin, Dapagliflozin And Canagliflozin Market Trends And Strategies
4. Empagliflozin, Dapagliflozin And Canagliflozin Market – Macro Economic Scenario
5. Empagliflozin, Dapagliflozin And Canagliflozin Market Size And Growth
…..
27. Empagliflozin, Dapagliflozin And Canagliflozin Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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