Diabetes is the chronic condition associated with abnormally high level of glucose in the blood. Insufficient or non production of insulin in pancreas causes diabetes. Globally, the incidence of diabetes is increasing significantly and it is becoming a major burden. According to World Health Organization (WHO), approximately 221 million people are suffering from diabetes. There are large numbers of blood glucose lowering drugs. Saxagliptin is an oral anti-diabetic agent known as DPP IV inhibitor. DDP IV inhibitor is an enzyme helps in suppressing the release of glucagon. Saxagliptin is used for medication of diabetes, as to boost the amount of insulin in the body produced after meal. Saxagliptin is marketed under the brand name Onglyza. Saxagliptin acts on natural hormone in the body known as incretins. Saxagliptin has various side effects such as headache, urinary tract infection, upper respiratory tract infection and nasopharyngitis. Saxagliptin can also cause complications such as stroke and heart attack.
North America and Europe dominates the global market for saxagliptin due to large number of aging population and increasing prevalence of type II diabetes. Asia is expected to show high growth rates in the next five years in the global saxagliptin market. China and India are expected to be the fastest growing saxagliptin markets in Asia-Pacific region. Some of the key driving forces for saxagliptin market in emerging countries are large pool of patients, increasing healthcare expenditure and rising government funding.
In recent times there is increased use of saxagliptin due to increasing incidence of type II diabetes. Increasing prevalence of obesity, increasing sedentary lifestyle and junk food habits and increased government funding are some of the key factors driving the growth for global saxagliptin market. In addition, increasing healthcare awareness is also fuelling the growth of global saxagliptin market. However, strict regulations for approval of drugs and substitutes for treatment of diabetes are some of the major factors restraining the growth for global saxagliptin market.
Pipeline drugs with saxagliptin would develop opportunity for the growth of the global saxagliptin market. However, side effects of saxagliptin would pose a challenge for the global saxagliptin market. Some of the major companies operating in the global saxagliptin market are Bristol-Myers Squibb Company and AstraZeneca.
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The report covers geographic segmentation