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Drug Sales Trends for INVOKANA
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Annual Sales Revenues and Units Sold for INVOKANA
Drug Name | Revenues (USD) | Units | Year |
---|---|---|---|
INVOKANA | ⤷ Try for Free | ⤷ Try for Free | 2022 |
INVOKANA | ⤷ Try for Free | ⤷ Try for Free | 2021 |
INVOKANA | ⤷ Try for Free | ⤷ Try for Free | 2020 |
INVOKANA | ⤷ Try for Free | ⤷ Try for Free | 2019 |
INVOKANA | ⤷ Try for Free | ⤷ Try for Free | 2018 |
>Drug Name | >Revenues (USD) | >Units | >Year |
Market Analysis and Sales Projections for Invokana (Canagliflozin)
Introduction to Invokana
Invokana, also known as canagliflozin, is a sodium-glucose cotransporter 2 (SGLT2) inhibitor used primarily in the treatment of type 2 diabetes. It works by preventing the kidneys from reabsorbing glucose back into the bloodstream, thereby increasing glucose excretion through the urine.
Current Market Status
As of 2024, the North America SGLT2 inhibitors market, which includes Invokana, was valued at USD 7.32 billion. However, Invokana's market share has been declining in recent years.
- Market Share Decline: Invokana, developed by Johnson & Johnson, has faced significant challenges in maintaining its market share. In 2017, it was reported that Invokana's sales missed forecasts by about $76 million, or 20.5%, due to increased contracting discounts, higher Medicaid utilization, and loss of market share to competitors like Eli Lilly and Boehringer Ingelheim's Jardiance[2].
Sales Projections
Despite the current challenges, here are some key projections for the SGLT2 inhibitors market, which include Invokana:
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North America Market Growth: The North America SGLT2 inhibitors market is projected to grow from USD 7.93 billion in 2025 to USD 16.37 billion by 2034, exhibiting a CAGR of 8.4% during this period[1].
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Global Market Outlook: Globally, the SGLT2 inhibitors market is expected to reach USD 29,427.0 million by 2030, growing at a CAGR of 9.2% from 2023 to 2030. While Jardiance (empagliflozin) dominates the market, Invokana remains a significant player[5].
Segment Analysis
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Type 2 Diabetes Segment: The type 2 diabetes segment, where Invokana is primarily used, dominated the market in 2023. This dominance is attributed to the rising incidence of diabetes and the increasing geriatric population, which drives the demand for SGLT2 inhibitors[4].
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Hospital Pharmacies: Hospital pharmacies also play a crucial role in the distribution of SGLT2 inhibitors, including Invokana. This segment dominated the market in 2023 due to the increasing number of hospitalizations for diabetes, chronic kidney disease (CKD), and heart failure patients[4].
Competitive Landscape
- Competitors: Invokana faces stiff competition from other SGLT2 inhibitors such as Jardiance (empagliflozin) by Eli Lilly and Boehringer Ingelheim, and Farxiga (dapagliflozin) by AstraZeneca. Jardiance has been gaining market share, while Invokana's share has been declining[2][4].
Growth Factors and Trends
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Increasing Disease Prevalence: The growth of the SGLT2 inhibitors market, including Invokana, is driven by the increasing prevalence of type 2 diabetes, CKD, and cardiovascular conditions. Physicians are increasingly using combination therapies and novel branded drugs to manage these conditions, which benefits the market[3][4].
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Regulatory Environment: The favorable regulatory environment in regions like North America also supports the growth of the SGLT2 inhibitors market. Advanced healthcare infrastructure and rising healthcare spending further contribute to the market's expansion[1][4].
SWOT Analysis
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Strengths: Invokana has a well-established presence in the market and is known for its efficacy in reducing blood glucose levels and body weight. It also has a broad range of clinical data supporting its use.
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Weaknesses: The drug has faced challenges such as declining market share, increased contracting discounts, and higher Medicaid utilization, which have impacted its sales negatively[2][3].
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Opportunities: The increasing prevalence of diabetes and other related conditions presents a significant opportunity for Invokana. Expanding into new markets and developing combination therapies could also boost its sales.
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Threats: Competition from other SGLT2 inhibitors, regulatory changes, and potential side effects associated with the drug are significant threats to Invokana's market position[2][4].
Sales Forecasts
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Historical Data: Historical sales data for Invokana show a decline in recent years. For example, in 2017, Invokana's sales were below consensus estimates, reflecting a loss of market share[2].
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Future Projections: Despite current challenges, Invokana is expected to maintain a significant presence in the market. However, its growth is likely to be slower compared to competitors like Jardiance. The global SGLT2 inhibitors market estimates and forecasts suggest that Invokana will continue to be a part of the growing market, albeit with a smaller share[4][5].
Key Takeaways
- Market Growth: The SGLT2 inhibitors market, including Invokana, is expected to grow significantly over the next decade.
- Competitive Challenges: Invokana faces intense competition from other SGLT2 inhibitors, particularly Jardiance.
- Growth Drivers: Increasing disease prevalence and favorable regulatory environments are key drivers of the market.
- SWOT Analysis: Invokana's strengths include its established presence and clinical data, but it faces weaknesses such as declining market share and threats from competitors.
FAQs
Q: What is the current market size of the North America SGLT2 inhibitors market? A: The North America SGLT2 inhibitors market size was valued at USD 7.32 billion in 2024[1].
Q: Why is Invokana's market share declining? A: Invokana's market share is declining due to increased contracting discounts, higher Medicaid utilization, and loss of market share to competitors like Jardiance[2].
Q: What are the growth drivers for the SGLT2 inhibitors market? A: The growth drivers include increasing prevalence of type 2 diabetes, CKD, and cardiovascular conditions, as well as favorable regulatory environments[3][4].
Q: Which segment dominates the SGLT2 inhibitors market? A: The type 2 diabetes segment and hospital pharmacies segment dominate the market due to rising disease incidence and hospitalizations[4].
Q: What is the projected global revenue for the SGLT2 inhibitors market by 2030? A: The global SGLT2 inhibitors market is expected to reach USD 29,427.0 million by 2030, growing at a CAGR of 9.2% from 2023 to 2030[5].
Sources
- Polaris Market Research - North America SGLT2 Inhibitors Market Size, Analysis & Forecast ...
- FiercePharma - J&J's Invokana continues downward market-share spiral as Lilly, BI's Jardiance advances
- Business Wire - Research and Markets: Invokana (Type 2 Diabetes) - Forecast and Market Analysis to 2022
- Research and Markets - SGLT2 Inhibitors Market Size, Share & Trends Analysis Report By ...
- Grand View Research - Global Sglt2 Inhibitors Market Size & Outlook, 2023-2030
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