Empagliflozin, Dapagliflozin and Canagliflozin Market Report 2024

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 observed in the historical period can be linked to the global rise in type 2 diabetes prevalence, greater awareness of the benefits of SGLT2 inhibitors, an expanding elderly population, increasing obesity rates, and a heightened 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 anticipated growth during the forecast period is driven by a rising demand for oral diabetes medications, growing investments in diabetes research and drug development, increased healthcare spending, heightened awareness and diagnosis of pre-diabetic conditions, and a greater emphasis on combination therapies. Key trends expected in the forecast period include advancements in technology, combination therapies, telehealth, health data analytics, and enhanced patient data security.

The growing incidence of diabetes is projected to drive the expansion of the empagliflozin, dapagliflozin, and canagliflozin market in the future. Diabetes is a chronic condition characterized by elevated blood sugar levels due to either insufficient insulin production or the body’s poor use of insulin. Contributing factors to the rise in diabetes include sedentary lifestyles, poor dietary habits, genetic factors, urbanization, an aging population, limited healthcare access, and increasing obesity rates worldwide. Empagliflozin, dapagliflozin, and canagliflozin help manage diabetes by lowering blood sugar through the inhibition of sodium-glucose co-transporter-2 (SGLT2) in the kidneys, facilitating glucose excretion via urine. For example, the International Diabetes Federation projected that the number of people with diabetes would reach 643 million by 2030 and 783 million by 2045. This growing prevalence is fueling the demand for empagliflozin, dapagliflozin, and canagliflozin.

Key players in the empagliflozin, dapagliflozin, and canagliflozin markets are concentrating on creating innovative products, such as treatments for pediatric type-2 diabetes, to cater to a wider patient base and enhance their market presence. Pediatric type-2 diabetes treatment involves managing blood sugar through lifestyle modifications, medications, and occasionally insulin therapy specifically designed for children and adolescents. For instance, in June 2024, AstraZeneca, a UK-based pharmaceutical company, received approval from the US Food and Drug Administration (FDA) for Farxiga (dapagliflozin) to improve glycemic control in pediatric patients aged 10 and older with type 2 diabetes. This approval followed positive results from the T2NOW Phase III clinical trial, one of the largest pediatric type-2 diabetes studies, demonstrating that Farxiga significantly reduced HbA1c levels compared to a placebo. The safety profile of Farxiga in this age group was consistent with its profile in adults with type 2 diabetes. This milestone is significant as oral treatment options for pediatric type-2 diabetes have been scarce, highlighting AstraZeneca's dedication to advancing treatments for cardiovascular, renal, and metabolic diseases.

In May 2021, Sun Pharmaceutical Industries Limited, an India-based pharmaceutical company, acquired the rights to the trademarks of the diabetes drug brands Oxra, Oxramet, and Oxraduo from AstraZeneca plc for an undisclosed amount. This acquisition will boost Sun Pharma’s market share, enhance its position in the diabetes treatment sector, and provide additional treatment options for patients across India. AstraZeneca plc is a UK-based pharmaceutical company that offers diabetes medications, including dapagliflozin.

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.

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.

The countries covered in the empagliflozin, dapagliflozin and canagliflozin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Empagliflozin, dapagliflozin, and canagliflozin are medications known as sodium-glucose co-transporter-2 (SGLT-2) inhibitors, primarily prescribed for managing type 2 diabetes mellitus. These oral medications are part of a comprehensive diabetes treatment plan that also involves diet, exercise, and potentially other medications.

The specific types of these SGLT-2 inhibitors include empagliflozin, dapagliflozin, and canagliflozin. Empagliflozin is used mainly to reduce blood sugar levels in adults with type 2 diabetes by aiding the kidneys in expelling glucose through urine. These medications are available in various applications, including application I, application II, application III, and application IV, and can be purchased through hospitals and pharmacies.

The empagliflozin, dapagliflozin and canagliflozin market research report is one of a series of new reports that provides empagliflozin, dapagliflozin and canagliflozin market statistics, including empagliflozin, dapagliflozin and canagliflozin industry global market size, regional shares, competitors with an empagliflozin, dapagliflozin and canagliflozin market share, detailed empagliflozin, dapagliflozin and canagliflozin market segments, market trends, and opportunities, and any further data you may need to thrive in the empagliflozin, dapagliflozin and canagliflozin industry. This empagliflozin, dapagliflozin and canagliflozin 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 empagliflozin, dapagliflozin and canagliflozin market consists of sales of jardiance, glyxambi, synjardy, farxiga, and invokamet. 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.


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