Ottawa, May 22, 2023 (GLOBE NEWSWIRE) -- The global diabetes drugs market size was valued at USD 61.87 billion in 2022. Diabetes is a chronic, life-threatening disease for which there is no cure. According to the World Health Organization, over 400 million people worldwide have diabetes, and its treatment accounts for approximately 12% of global healthcare expenditure. It has become a global epidemic, affecting millions of people worldwide.
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The significant growth in the market can be attributed to factors such as the rising prevalence of diabetes and the increasing number of health awareness programs launched by various health organizations. Approximately 10% of all diabetes cases are type 1, with the remainder being type 2. The 2022 National Diabetes Statistics report was recently released by the Centers for Disease Control and Prevention (CDC). According to this report, more than 130 million adults in the United States have diabetes or prediabetes.
Covid 19 impact on the Drug diabetes market
On March 11, 2020, WHO declared Coronavirus Disease 2019 (COVID-19) caused by a new strain of coronavirus known as Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), a pandemic. Soon after its discovery in late December 2019, it was discovered that people with diabetes were at a higher risk of COVID-19-related complications, ICU admissions, and mortality. Maintaining normal blood glucose levels with insulin and other oral diabetes medications (such as Metformin) reduced the adverse effects of COVID-19. Interestingly, while insulin administration was associated with adverse outcomes in diabetic COVID-19 patients, Metformin treatment significantly reduced disease severity and mortality rates among affected individuals. AS due to the lockdown supply chain was disturb it affects the global diabetics drug market.
Regional landscape:
North America dominates the global market due to the region's high prevalence of diabetes due to a sedentary lifestyle and the launch of new drugs. The United States is expected to increase during the forecast period, owing to factors such as the region's high prevalence of obesity and growing awareness of diabetes care. Because of high demand in the United States, North America remained the largest market for insulin drugs. More than 37 million Americans have diabetes, with 90 to 95% having type 2 diabetes. These factors are expected to grow north American region in the forecast period.
The Asia-Pacific region is expected to grow in the forecast period. The rise in diabetes patients is primarily due to rising obesity rates caused by unhealthy diets and sedentary lifestyles. The Asia-Pacific market is driven mainly by increasing demand for diabetes drugs in China and India. China currently has over 129 million diabetes patients, while India's diabetes population is expected to reach 82 million by 2032.
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Scope of this report
| Coverage | Details | |
| Market Value in 2032 | USD 118 Billion | |
| CAGR | 6.67% | |
| Oral Segment Share | 46% in 2022 | |
| Hospital Pharmacies Segment Share | 54% in 2022 | |
| Insulin Segment Share | 23% in 2022 | |
Market Dynamics:
Drivers: Increase in the prevalence of diabetic patients driving the market growth
The global diabetes therapeutics market is driven primarily by increased diabetes prevalence, sedentary lifestyles, and most other chronic diseases, such as hypertension. According to the International Diabetes Federation (IDF), approximately 537 million adults (20-79 years) have diabetes, with the number of diabetic patients expected to rise to 643 million by 2030 and 783 million by 2045. As a result, the rising prevalence of diabetes in the population contributes to the growth of the diabetes therapeutics market. Diabetes can also be inherited and is linked to a patient's family history and genetics. Not everyone necessarily inherit it, but people with a family history are more likely to develop diabetes. Furthermore, rising public awareness of diabetes self-management contributes to market growth. Moreover, creating affordable and effective diabetes therapeutics, such as oral hypoglycemic agents, and government initiatives to provide diabetes care facilities drive market growth.
Furthermore, the rise in diabetes-causing factors such as family history, environmental factors, diet, obesity, and geography propel the market forward. Obesity is a significant risk factor for the development of diabetes. According to the World Population Review report, the United States will have 36.20% of its adult population obese by 2022. Furthermore, diabetes is caused by environmental factors such as polluted air, soil, and water, a lack of vitamin D, exposure to enteroviruses, and immune cell damage.
Opportunities: An increase in diabetic prevention program provide prospects for the diabetic drug market
The Centers for Disease Control and Prevention (CDC) in the United States announced the launch of the National Diabetes Prevention Program (National DPP) in collaboration with public and private organizations. The program's goal is to prevent or postpone type 2 diabetes. Furthermore, increasing the number of diabetes centers worldwide contributes to market growth. Diabetes centers offer diabetes treatment to patients. Again, the growing geriatric population drives the market growth. Diabetes is more common in older people. According to the Center for Aging Better, there will be nearly 12 million people aged 65 and over in the UK in 2021, with 3.2 million aged 80. Thus, the presence of diabetes centers and an increase in geriatric patients drive market growth.
Market segmentation of the drug diabetes market:
- By Drug class: The market is divided into Injectable Drugs, Oral Drugs, Insulins, and Others. Insulins dominate the global Diabetes Drugs Market due to low-cost insulin treatment and, thus, the most effective diabetes treatment, particularly type 2 diabetes. As a result, the fast-growing insulin segment will contribute to the global market's expansion. It will influence private and public investments in research and development, thereby expanding the market in the future. Moreover, insulin production is highly complex, and only a few manufacturers are on the market. As a result, there is fierce competition among these manufacturers, who constantly strive to meet patients' needs by providing the highest-quality insulin.
- By Diabetes Type: Depending on the type of diabetes, the market is divided into Type 1 and Type 2. Diabetes drugs are classified into two types, which dominate the market. A few of the different kinds of Type 2 diabetes account for significant sales in the global market. The current situation is attributed to the high prevalence of type 2 diabetes due to sedentary lifestyles and obesity in all age groups. Type 1 diabetes accounts for approximately 10% of all diabetes cases, while type 2 diabetes accounts for about 90% of all diabetes cases worldwide. As a result, the global diabetes drug market is expected to grow during the forecast period.
- By Distribution Channel: The market is divided into four segments based on distribution channels: hospital pharmacies, rental pharmacies, online pharmacies, and others. Because of the availability of trained and qualified personnel and a favourable reimbursement structure, hospital pharmacies captured the largest market share. Because of the population's technological adaptation and acceptance of online pharmacies, online pharmacies are expected to have the highest CAGR during the forecast period. Retail pharmacies showed a moderate market share improvement in developing countries, which is expected to propel the popularity of retail pharmacies during the forecast period.
Recent Development in the diabetes drug market
- In 2022, Novo Nordisk India has launched an oral formulation of an anti-diabetes drug that was previously only available as injections, claiming that the new drug can help adults with type 2 diabetes better control their blood sugar levels and weight.
- In 2022, Glenmark Pharmaceuticals Limited has introduced a novel fixed-dose combination (FDC) of Teneligliptin, a DPP4 inhibitor (Dipeptidyl Peptidase 4 inhibitor), and Pioglitazone.
Company Profiles and Competitive Intelligence
The key players operating in the Diabetes Drug Market
Key players are expanding geographically and developing niche business units that cater to the industry. The following companies are major players in the global clinical trial supplies market:
- Novo Nordisk A/s
- Sanofi
- Merck & Co, Inc
- Eli Lilly and Company
- AstraZeneca
- Takeda Pharmaceuticals Company Limited
- Boehringer Ingelheim International GmbH
- Novartis AG
- Johnson & Johnson Services, Inc.
- Bayers AG
The segment covered in the report:
By Drug class:
- Insulin
- DPP- 4 Inhibitors
- GLP-1 Receptor Agonists
- SGLT2 Inhibitors
Diabetes Type
- Type 1
- Type 2
Route of administration
- Oral
- Subcutaneous
- Intravenous
Distribution Channel
- Online pharmacies
- Hospital Pharmacies
- Retail pharmacies
By Region:
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- LAMAEA
- Brazil
- GCC
- South Africa
- North Africa
- Rest of LAMEA
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