Global Diabetes Market 2022-2028

Global Diabetes Market Size, Share & Trends Analysis Report by Type (Type 1 Diabetes, Type 2 Diabetes, and Gestational), by Drug Class (Alpha-Glucosidase Inhibitors, Amylin Analogs, Antidiabetic Combinations, Dipeptidyl Peptidase 4 Inhibitors, Incretin Mimetics, Insulin, Meglitinides, Non-Sulfonylureas, Sglt-2 Inhibitors, Sulfonylureas, and Thiazolidinedione) and by Devices (Blood Glucose Meters, Blood Glucose Strips, Insulin Injection Pens, Insulin Syringes, Continuous Glucose Monitoring Systems, Insulin Pumps, and Lancets) Forecast Period (2022-2028)

The global diabetes market is anticipated to grow at a considerable CAGR of 6.9% during the forecast period. Technological advancements in the field of diabetes and increased government initiatives for better awareness will further promise ample opportunities for market growth in the near future. Recent technological advancements have led to the emergence of advanced and innovative diabetes care devices such as smart insulin and artificial pancreas. For instance, in September 2019, Novo Nordisk announced that the US FDA had permitted Rybelsus (semifluid) oral tablets for adult patients with Type-2 diabetes. With this approval, Hybels's became the first glucagon-like peptide (GLP-1) receptor protein treatment accepted for use in the US, which does not need to be injected.

The global diabetes market is segmented based on the type, drug class, and devices. Based on the type, the market is segmented into type 1 diabetes, type 2 diabetes, and gestational. Based on the drug class, the market is sub-segmented into the alpha-glucosidase inhibitors, amylin analogs, antidiabetic combinations, dipeptidyl peptidase 4 inhibitors, incretin mimetics, insulin, meglitinides, non-sulfonylureas, sglt-2 inhibitors, sulfonylureas, and thiazolidinedione. Based on the devices, the market is segmented into blood glucose meters, blood glucose strips, insulin injection pens, insulin syringes, continuous glucose monitoring systems, insulin pumps, and lancets. The above-mentioned segments can be customized as per the requirements. Based on type, type-2 diabetes is projected to hold a prominent share in the market owing to the most commonly found diabetes in people globally.

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia-Pacific is projected to grow at the fastest rate during the forecast period, owing to the increased funding and investment in R&D by government bodies and pharmaceutical &biotechnology companies. For instance, the government of China invested heavily in life science research, the 13th Five-year Plan completed in 2020 is one such instance, which further fueled the growth of the market as the plan focuses on the development of innovative medicines. This, in turn, creates the scope for market growth. Furthermore, improving healthcare infrastructure and increasing the geriatric population pool in the region further give a boost to the regional growth of the market.

The major companies serving the global diabetes market include AstraZeneca Ltd, Boehringer Ingelheim, Eli Lily And Co., Novo-Nordisk, Sanofi, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2019, Novo Nordisk planned to invest about $98 million in expanding and upgrading the insulin drug manufacturing facility in Kalundborg, Denmark. The venture was scheduled to be accomplished before the end of 2020.

Research Methodology

The market study of the global diabetes market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global Diabetes Market Research and Analysis by Type
2. Global Diabetes Market Research and Analysis by Drug Class
3. Global Diabetes Market Research and Analysis by Devices

The Report Covers

• Comprehensive research methodology of the global diabetes market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the global diabetes market.
• Insights about market determinants that are stimulating the global diabetes market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.