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Europe SGLT2 Inhibitors Market
The growing intake of alcohol amongst consumers is driving the Europe SGLT2 inhibitors market.
Surge in side effects such as hypertension and diabetes are pushing the market ahead” - Polaris Market ResearchNEW YORK CITY, NY, UNITED STATES, January 13, 2025 /EINPresswire / -- The Europe SGLT2 inhibitors market report assesses the competitive scenario of the market, examining all the established players and new market entrants.
The market for Europe SGLT2 inhibitors is on a growth trajectory. The market, valued at USD 4,241.98 million in 2023, is poised to reach USD 7,629.79 million by 2032. It is anticipated to register a CAGR of 6.7% from 2024 to 2032.
Market Introduction:
SGLT2 inhibitors are a type of oral prescription medicine normally prescribed for people with chronic kidney disease (CKD). They assist in retaining the glomeruli healthy and lessen the urine albumin-creatinine ratio (uACR), a marker of kidney injury. The majority of SGLT2 inhibitors have been displayed in clinical trials to also assist in lessening the probability of heart attack, stroke, and/or heart failure flare-ups.
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Initially, SGLT2 inhibitors were advanced to assist people residing with type 2 diabetes in handling their blood glucose levels. Recently, clinical trial statistics displayed these medicines were also of assistance in enhancing kidney and heart well-being for people with CKD or heart failure in spite of not having diabetes. The growing existence of diabetes caused a notable usage of SGLT2 inhibitors for the cure of type 2 diabetes, impacting the Europe SGLT2 inhibitors market demand favourably.
Key Report Highlights:
.The Europe SGLT2 inhibitors market size was valued at USD 4,241.98 million in 2023 and is projected to grow to USD 7,629.79 million by 2032.
.The growing load of detrimental illnesses fuels the need for SGLT2 inhibitors in Europe.
.The market segmentation is primarily based on indication, drug, distribution channel, and country.
.The study provides market insights into Germany, France, the UK, Italy, Spain, Netherlands, Russia, and the rest of Europe.
Competitive Landscape:
The Europe SGLT2 inhibitors market is portrayed by aggressiveness. Spearheading market contenders fund massively in research and development to augment their product lines which drives the market growth. Market contenders are also shouldering an assortment of tactical ventures to augment their footprint, covering the region with crucial market advancements such as contemporary product instigations, mergers and acquisitions, elevated funding, and associations with other firms.
Top Companies:
Understanding key players and their initiatives provides valuable insights into the competitive landscape and emerging opportunities in the market. Here are the top companies in the market:
.AstraZeneca
.Boehringer Ingelheim International GmbH
.Bristol-Myers Squibb Company
.Eli Lilly and Company
.Glenmark Pharmaceuticals Ltd.
.Johnson & Johnson Services, Inc. (Janssen Pharmaceuticals, Inc.)
.Lexicon Pharmaceuticals, Inc.
.Merck & Co., Inc.
.Novo Nordisk
.Sanofi
.Pfizer Inc.
Here are some of the major market developments:
.In May 2024, Lexicon declared its scheme to reintroduce its New Drug Application (NDA) for Zynquista to the FDA by mid-2024, succeeding a failed attempt to acquire acceptance for type 1 diabetes in 2019.
.In March 2024, Novo Nordisk declared its plan to look for administrative consent for augmented Ozempic labels in the US and EU in 2024.
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Growth Drivers and Opportunities:
Rising Urbanization: The escalating urbanization has caused elevated subjection to strain, contamination, and reduced physical exercise, which has contributed to elements such as detrimental illnesses fueling the Europe SGLT2 inhibitors market growth. Specific occupations also involve subjection to detrimental materials and elevated strain levels, thereby escalating the susceptibility to detrimental illnesses.
Growing Elderly Population: The population of England and Wales with Census 2021 signifies an elevated aggregate of persons in age categories. Over 11 million people, reckoning for 18.6% of the absolute population, were around 65 years and above, contrasted to 16.4% in 2011.
Increasing Government Initiatives: European governments are applying several estimates, such as offering allotment for diabetes medicines, enhancing the healthcare approach, and highlighting prohibitive care. These schemes assist improve diabetes care and handling which could cause extensive acquisition of SGLT2 inhibitors.
Regional Analysis:
Germany is anticipated to witness a significant CAGR from 2024 to 2032. The country's robust growth is due to the National Health Service in the country, which has a robust framework and substantial availability, easing the extensive obtainability of progressive diabetes cures such as SGLT2 inhibitors.
The UK accounted for the largest share of the Europe SGLT2 inhibitors market in 2023. This is primarily because of the existence of the spearheading pharmaceutical firms and continuing research and development ventures that have braced the obtainability and acquisition of SGLT2 inhibitors in the country.
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Segmental Overview:
By Indication Outlook
.Cardiovascular
.Chronic Kidney Disease (CKD)
.Type 2 Diabetes
.Others
By Drug Outlook
.Farxiga (Dapagliflozin)
.Inpefa (Sotagliflozin)
.Invokana (Canagliflozin)
.Jardiance (Empagliflozin)
.Qtern (Dapagliflozin/Saxagliptin)
.Other SGLT2 Inhibitors
By Distribution Channel Outlook
.Hospital Pharmacies
.Online Pharmacies
.Retail Pharmacies
By Country Outlook
.Germany
.France
.UK
.Italy
.Spain
.Netherlands
.Russia
.Rest of Europe
FAQs:
How much is the Europe SGLT2 inhibitors market?
The market size was valued at USD 4,241.98 million in 2023 and is projected to grow to USD 7,629.79 million by 2032.
What does the Europe SGLT2 inhibitors market cover?
The market covers revenue forecast, market competitive landscape, growth factors, and trends.
What are the segments covered by the market?
The market covers segments such as by indication, drug, distribution channel, and country.
What is the growth rate of the market?
The market is projected to register a CAGR of 6.7% during 2024–2032.
Browse PMR's Europe SGLT2 Inhibitors Market Report Coverage from Different Publications:
Europe SGLT2 Inhibitors Market Trend Opportunity, Challenge, Global Business Growth Forecast By 2023-2032 | AstraZeneca, Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company
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About Polaris Market Research & Consulting, Inc:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.
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Polaris Market Research and Consulting
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