Oral Hypoglycemic Agents (OHAs) Market would rocket up to USD 83.75 billion by 2030,size, share, key drivers

Oral hypoglycemic agents (OHAs) are medications used to manage and control blood sugar levels in individuals with diabetes. They are taken orally, making them a convenient treatment option for many patients. These drugs work by either increasing insulin production, improving insulin sensitivity, or reducing glucose production in the liver. They play a vital role in diabetes management, helping to prevent complications and maintain healthy blood sugar levels.

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Data Bridge Market Research analyses that the Oral hypoglycemic agents (OHAs) Market which was USD 61.20 billion in 2022, would rocket up to USD 83.75 billion by 2030, and is expected to undergo a CAGR of 4.00% during the forecast period. "Metformin" dominates the type of product segment of the oral hypoglycemic agents (OHAs) market owing to their therapeutic efficacy and minimal side effects. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Global Oral Hypoglycemic Agents (OHAs) Market Dynamics

Opportunities

Development of novel drug formulations

The market growth presents an opportunity for pharmaceutical companies to invest in the development of novel drug formulations. This includes extended-release formulations, combination therapies, and innovative drug delivery systems that enhance patient compliance, convenience, and efficacy.

Drivers

Increasing Prevalence of Diabetes

The global prevalence of diabetes is on the rise, primarily driven by factors such as sedentary lifestyles, unhealthy diets, and obesity. As the number of people diagnosed with diabetes increases, so does the demand for effective oral hypoglycemic agents. The expanding patient pool drives market growth for these medications.

Some of the major players operating in the oral hypoglycemic agents (OHAs) market are:

Sanofi (France)

Ganlee (China)

Biocon (India)

Novo Nordisk A/S (Denmark)

Eli Lilly and Company (U.S.)

Tonghua Dongbao Pharmaceutical Co., Ltd. (China)

Wanbang Biopharmaceuticals (China)

Novartis AG (Switzerland)

North America is expected to account for the largest market share due to the increased consumption of oral hypoglycemic agents for the treatment of diabetes.

Asia-Pacific is expected to account for the fastest growing market and is expected to account for the largest market share over coming years for the oral hypoglycemic agents (OHAs) market due to the rising prevalence of diabetes.

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