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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

Diabetes mellitus, commonly known as diabetes, is a chronic condition, in which the blood glucose levels are higher than the normal range. Diabetes is a disorder where the insulin hormone is either not produced by the pancreas (Type 1) or the body fails to utilize it properly (Type 2).

Type 2 diabetes is a chronic condition where the body fails to metabolize the glucose properly, which means that the body has become resistant towards the insulin, a hormone produced by pancreas to maintain blood sugar level in body. Type 2 diabetes is mostly found in adults though the condition is becoming increasingly common in children also. The symptoms of type 2 diabetes include increased thirst and hunger, frequent urination, fatigue, slow healing sores, and blurred vision. 

Semaglutide is a medication used for treating type 2 diabetes. The medicine acts similarly as a natural hormone, glucagon-like peptide-1, which stimulates the insulin secretion in body for regulation of blood glucose level. The medicine is recommended by the U.S. Food and drug Administration (FDA), along with diet and exercise, in order to regulate the blood sugar level in type 2 diabetic patients.

Global Semaglutide Market – Dynamics

Increasing prevalence of type 2 diabetes is expected to boost growth of the global semaglutide market over the forecast period. For instance, according to article published by the Centers for Disease Control and Prevention (CDC), in 2017, around 23.1 million people in the U.S., were diagnosed with diabetes, out of which 132,000 were children and adolescents. The report also mentioned that out of the total diabetes cases, 90% to 95% accounted from type 2 diabetes.

Furthermore, various initiatives, campaigns, and programs launched by key players, in order to prevent and control diabetes are expected to propel the market growth over the forecast period. For instance, in 2014, Novo Nordisk, a global pharmaceutical company, and Steno Diabetes Center Copenhagen, London, launched ‘Cities Changing Diabetes’, a program designed to identify the areas and populations that are at greatest risk of getting affected by diabetes globally. Moreover, in November 2019, Philadelphia also joined the program and became the 25th city globally to become a part of the Cities Changing Diabetes program.  

Global Semaglutide Market – Regional Insights

North America accounted for the largest market share in 2018, owing to launches and approvals of new semaglutide products in the region. For instance, in February 2018, Novo Nordisk, launched a semaglutide injection, Ozempic, to control type 2 diabetes in adults. Ozempic coupled with proper diet and exercise is helpful in regulating the blood sugar level in type 2 diabetic patients. According to the blood glucose level in the body, Ozempic stimulates the insulin secretion and lowers the glucagon secretion, in order to regulate the glucose levels in the blood. Similarly, in September 2019, Novo Nordisk received the approval from the U.S. Food and Drug Administration (FDA) for Rybelsus tablets, which are semaglutide tablets for controlling type 2 diabetes in adults. Rybelsus controls the blood sugar level in type 2 diabetic patients by slowing down the digestion process. The slow rate of digestion reduces the amount of sugar produced by the liver and also helps the pancreas in producing more insulin when required.

Global Semaglutide Market – Competitive Landscape

Key players operating in the global semaglutide market include Novo Nordisk.

Global Semaglutide Market – Taxonomy

On the basis of route of administration, the global semaglutide market is segmented into:

  • Oral
  • Injection

On the basis of distribution channel, the global semaglutide market is segmented into:

  • Hospitals Pharmacies
  • Retail Pharmacies
  • Online Pharmacies

On the basis of region, the global semaglutide hormones market is segmented into:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East
  • Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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