Wilmington, Delaware, United States, Aug. 21, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global diabetes supplements market was valued at US$ 8.4 Bn in 2020 and is projected to reach US$ 13.4 Bn by 2031. Growth in awareness about the effectiveness of supplements for reducing the risk of contracting diabetes among the general population is expected to augment market growth. For instance, a number of studies have found that Vitamin D can lower the chance of developing type 2 diabetes. Manufacturers in developed countries are adopting regulations pertaining to the use of dietary supplements among diabetics.
Recent trends indicate researchers’ intent on conducting randomized controlled trials (RCTs) for assessing safety and efficacy of supplements in diabetes management. Demand for a range of supplements, especially antioxidants, to improve insulin sensitivity in patients with type 2 diabetes presents robust growth opportunities for companies in the diabetes supplements market. Companies are focusing on enhancing safety of a range of supplements. This is expected to create significant business opportunities.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | US$ 8.4 Bn | |
| Estimated Value | US$ 13.4 Bn | |
| Growth Rate - CAGR | 4.2% | |
| Forecast Period | 2021-2031 | |
| No. of Pages | 197 Pages | |
| Market Segmentation | Type, Category, Tablets, Solution, Powder, Others | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Abbott (Abbott Healthcare Pvt. Ltd.), Aksuvital Natural Products Co., Arkopharma, Bionova, Caelus Health | |
Key Findings of Study
- Rise in Awareness About Risk Factors of Type 2 Diabetes: Diabetic population is inclined toward the usage of supplements to lower their glucose levels in addition to intake of traditional medicines. Rise in awareness about overall health among patients with type 2 diabetes is anticipated to accelerate market development. Elderly patient cohort is inclined toward the usage of supplements in order to improve health-related quality of life.
- Rapid Expansion of Distribution Channels and Improvements in Efficacy of Supplements: Dietary supplement manufacturers around the globe are benefitting from the large number of hospital pharmacies and retail pharmacies. They have recently begun focusing on online distribution channel in order to reach more customers such as those in rural areas. Increase in availability of vitamins, minerals, fatty acids, and antioxidants, in supplements in powder and tablet forms is likely to increase the convenience of patients to adhere to intake of these supplements.
Key Growth Drivers of Diabetes Supplements Market
- Increase in prevalence of diabetes mellitus in the elderly (aged 65 years and above) is a key factor expected to drive the diabetes supplements market. The geriatric diabetic population is at higher risk of developing diabetes-related complications such as hypoglycemia (low blood sugar), cardiovascular disease, and kidney failure. Growth in awareness about these risk factors among the patient population and their caregivers is anticipated to boost the diabetes supplements industry.
- High prevalence of type 2 diabetes mellitus in the adult patient population is a key driver of the diabetes supplements market. Significant increase in childhood obesity is likely to augment the incidence rate of type 2 diabetes among people aged 20 years or older, especially in developed countries.
- Rise in inclination of diabetics to adopt alternative medicine is expected to broaden market outlook
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Regional Landscape
North America is a lucrative market for diabetes supplements. Strict implementation of regulations on safety and efficacy of dietary supplements in the U.S. is anticipated to accelerate market development in North America in the near future. Rise in incidence of diabetes among the elderly and surge in R&D activities in dietary supplements for chronic diseases are estimated to augment market size in the region over the next few years. Dietary supplement manufacturers are adopting innovative marketing strategies to consolidate their position in the market in North America.
The diabetes supplements market in Asia Pacific is anticipated to witness significant growth in the near future. Companies in the region are implementing geographical expansion strategy to enhance their global presence. Rise in incidence of type 2 diabetes in the elderly population in Asia Pacific is anticipated to fuel market development. Surge in availability of a wide range of dietary supplements for diabetes on online distribution/retail channels is likely to augment market growth in the region in the next few years. The diabetic population in Asia Pacific is also adopting lifestyle modifications in order to address the risk factors of the disease, such as heart conditions and low blood pressure symptoms.
Competition Landscape
Leading companies are focusing on R&D activities to stay ahead of competitors.
Prominent players operating in the diabetes supplements market are
- Abbott
- Aksuvital Natural Products Co.
- Arkopharma
- Bionova
- Caelus Health
- CuralLife Global
- Glucose Health Inc.
- Lysulin Inc.
- Nestle Health Science
- Olive Healthcare
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Segmentation
The diabetes supplements market is segmented based on
Disease Type
- Type 1
- Type 2
Dosage Form
- Tablets
- Solutions
- Powder
- Others
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Type
- Vitamins
- Minerals
- Proteins
- Antioxidant & Fatty Acids
- Dietary Fibers
- Others
Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Europe
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