Diabetes Care Drugs Market - Forecasts from 2020 to 2025

The global diabetes care drugs Market is projected to grow at a CAGR of 8.10% to reach US$89.535 billion by 2025, from US$56.199 billion in 2019.

Rising prevalence of type-1 in children and type-2 diabetes in adults is causing a surge in the demand.

According to WHO, Diabetes is considered to be a chronic disease that is caused by a high level of glucose present in the blood. It can lead to server damage to the different organs such as the heart, blood vessels, and kidneys among others. Diabetes type 2 is considered to be the most common type of diabetes and affects adults when the body becomes resistant to insulin. On the other hand, type 1 diabetes is dependent on insulin and is caused when the pancreas is producing very little insulin. The number of individuals that are suffering from diabetes has risen from 108 million to 422 million in 2014. Moreover, the prevalence of diabetes in individuals over 18 years, which was previously found to be 4.7% in 1980, has surged to a value of 8.5% in 2014. In addition, diabetes can be treated if a healthy diet is followed and a good amount of exercise is done and strict recommendation of the doctor is followed. On the other hand, the persons suffering from diabetes are actively demanding diabetes care drugs in order to keep the condition in check and this is leading to market growth.

Growing proportion of geriatric population is driving the market growth.

One of the major factors of the rise in demand for diabetic care drugs from the geriatric individuals is due to the fact that during older age, the immune system and the endocrine system among the other functions of the body are not up to their full potential, which makes pancreas little weaker and thus making them prone to diabetes. Therefore, this is causing the elderly population to demand for diabetic drugs.

Product offerings, acquisitions, and launches by Major Market Players in the diabetes care drugs market space

The involvement and participation of the market player are increasing in order to cater to the demand of the end-user more effectively. They are bringing advancement and enhancements by the launch of new products, partnership agreements with better compositions, which are more effective, thus contributing to improving their market position and bolstering the market growth further.

Some of the examples of product launches and partnership agreements are as follows:

• Recently in April 2020, Natco Pharma, which is a company dealing in the provision of different types of drugs and is based in India announced that they have launched a new product under the brand name “Danpat”. The product is an affordable and low-cost copy of the drug called “Farxiga”, which is a drug by the company AstraZeneca. In addition, this drug, which has been launched is lower in concentration than the drug Farxiga and will be available in 5mg and 10mg strengths.
• In January 2020, Eli Lilly and Company announced that their latest triple combination drug called “Trijardy XR” which consists of three diabetes type-2 medications. The tablet consists of “empagliflozin”, “linagliptin”, and an extended-release drug called “metformin hydrochloride” has been approved for usage by the U.S. Food and Drug Administration. It will be available in four different dosages and is indicated to be used once daily together with a healthy and complete diet and exercise.
• In September 2019, a new medication called “Ryebelsus” (semaglitude), which has been developed by the company Novo Novodisk was approved by the U.S. Food and Drug Administration. The medication has been developed for the glucagon-like peptide (GLP-1) receptor protein treatment approved for use in the United States that’s is the first oral drug. It is able to improve control over the blood sugar in adult patients, suffering from type-2 diabetes, and is a type of a non-insulin type treatment.
• In December 2019, Mankind Pharmaceuticals Ltd. and Glenmark Pharmaceuticals Ltd. announced that they have entered into a partnership agreement in order to co-market the anti-diabetic drug called “remogliflozin etabonate” in India. Under this agreement, Mankind pharma will market the drug under its trademark and on the other hand, Glenmark will contribute to the agreement by manufacturing and supplying the drug to the company.

The Asia Pacific region is poised to show a considerable growth rate over the forecast period owing to increasing healthcare sector spending and the North American region is expected to hold a noteworthy share over the forecast period.

The North American region is expected to hold a noteworthy share over the forecast period owing to the fact that the healthcare sector in countries such as the US is well developed. In conjunction, there is a good number of investments in the R&D of better drugs and medicines in order to effectively control diabetes type 2, by pharmaceutical companies.

The Asia Pacific region is poised to show a considerable growth rate over the forecast period owing to the increasing number of efforts being made and the initiatives being taken by the government by pumping investments into the healthcare sector in order to promote the development of better drugs for diseases such as diabetes in India. In addition, there is increasing involvement of market players such as Mankind and Glenmark to manufacture and distribute diabetes-related drugs in countries such as India.

Segmentation:

By Condition

• Diabetes Type 1
• Diabetes Type 2

By Drug Class

• Insulin
• Rapid Acting
• Short-Acting
• Long-Acting
• Others
• Sulfonylureas
• Meglinitides
• Thiazolidinedione
• Others

By Delivery Method

• Vials
• Pens
• Tablets

By End-User

• Hospitals and Clinics
• Household

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• UK
• Germany
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others
• Asia Pacific
• Japan
• China
• India
• South Korea
• Others