Dublin, Aug. 11, 2023 (GLOBE NEWSWIRE) -- The "Diabetes Drugs Market, Size, Global Forecast 2023-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The global diabetes drug market is projected to reach $106.65 Billion by 2028. Diabetes, a chronic condition caused by insufficient levels of insulin, poses a significant public health challenge and is among the priority communicable diseases targeted by world leaders. The prevalence of diabetes has steadily risen, with an estimated 643 million adults living with the disease in 2030, expected to reach 783 million in 2045. The rising rates of overweight and obesity are major contributing factors. Diabetes-related complications affect various body systems and increase the risk of premature death.
The global diabetes drug market is expected to grow at a CAGR of 5.49% from 2022 to 2028. The development of the generic insulin market and the rising need for cutting-edge insulin products to control blood sugar levels in both type 1 and type 2 diabetes are anticipated to propel the expansion of the insulin industry. Furthermore, substantial investments in research and development by government organizations and the introduction of new products by key market players are expected to boost market growth for diabetic drugs. For instance, the approval of sodium-glucose co-transporter 2 (SGLT2) inhibitors like Dapagliflozin and Canagliflozin by Europe and the U.S.A. has shown promising results in improving glycemic control in type 2 diabetes patients.
The type-2 diabetes drug market is expected to dominate in the upcoming years. Type 2 diabetes, driven by sedentary lifestyles and rising obesity rates across all age groups, is principally responsible for the solid sales of the global market. It accounts for 90% of all diabetes cases globally, while type 1 diabetes accounts for approximately 10% of all occurrences.
The diabetes insulin market is experiencing significant growth. With the rising prevalence of diabetes, there is an increasing demand for diabetic insulin medicines. Insulin is essential for controlling blood sugar levels in both type 1 and type 2 diabetes. The desire for novel insulin treatments that are more effective and convenient is increasing, leading companies to invest in enhanced insulin formulation research, such as long-acting and rapid-acting analogs.
The ongoing advancements in DPP IV inhibitor therapies offer exciting opportunities to improve diabetes management and ultimately enhance patient outcomes. DPP IV inhibitors have the largest market share in the global diabetes insulin drug market, inhibiting the enzyme dipeptidyl peptidase-4, which is important in blood sugar management.
The continuous development and growing adoption of novel GLP-1 agonists have propelled their dominant position in the diabetes drug market. GLP-1 agonists have the biggest market share in the diabetic medication market, enhancing glycemic control and weight management by increasing insulin release and promoting a sense of fullness.
The demand for rapid-acting insulin is rapidly expanding in the diabetes drug market, showcasing substantial growth potential within the industry. Rapid-acting insulin gives people more control over their diabetes by rapidly lowering blood sugar levels after injection, making it a popular choice for those who need precise control over their blood glucose levels.
The United States diabetes drug industry is thriving, driven by high prevalence rates and a demand for effective treatments. The diabetic medication business is booming in the United States due to a sizable diabetic population and a rising need for novel medications to aid in disease management. India's diabetes drug industry is set for substantial growth due to the rising diabetic population and the demand for effective treatments, with government initiatives aimed at improving healthcare infrastructure and increasing awareness.
Leading companies like Novo Nordisk, AstraZeneca plc, Biocon, Sanofi, Eli Lilly, Johnson & Johnson, Bristol Myers Squibb Co., and Novartis AG play a pivotal role in the global diabetes drug market, driving innovation and contributing to the advancement of diabetes treatment options.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 220 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $69.56 Billion |
| Forecasted Market Value (USD) by 2030 | $106.65 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
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