Diabetes Drugs Market will reach to US$ 106.65 Billion by 2030
The global diabetes drug market is projected to reach US$ 106.65 Billion by 2028, according to the publisher. Diabetes is a chronic condition brought on by insufficient levels of either insulin synthesis or insulin use. It poses a significant public health challenge and is among the priority communicable diseases targeted by world leaders. Diabetes imposes substantial economic burdens on individuals, families, health systems, and economies due to medical costs and work-related losses. Despite the rise in costlier analogue insulin’s, evidence of their superiority over cheaper human insulin’s is limited. The prevalence of diabetes has steadily risen globally, with an estimated 643 million adults living with the disease in 2030, and it will reach 783 million in 2045 (20-79 years old), according to the IDF Diabetes. Contributing factors include the increasing rates of overweight and obesity. 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. Additionally, throughout the forecast period, substantial expenditures in research and development by government organizations as well as the introduction of new products by important market participants are anticipated to boost market growth for diabetic drugs. For example, the approval of sodium-glucose co-transporter 2 (SGLT2) inhibitors such as Dapagliflozin and canagliflozin by Europe and the U.S.A. has shown promising results in improving glycemic control in type 2 diabetes patients. These inhibitors work by reducing renal glucose reabsorption and increasing urinary glucose excretion, thereby lowering plasma glucose levels. The global diabetes drug market was valued at US$ 69.56 Billion in 2022.
The type-2 Diabetes drug Market will dominate in the upcoming years.
The diabetes drug market is divided into two divisions: type 1 and type 2, with both groups accounting for a sizable market share. Type 2 diabetes, which is being driven by sedentary lifestyles and the rising incidence of obesity across all age groups, is principally responsible for the worldwide market's solid sales. Type 1 diabetes accounts for around 10% of all occurrences, whereas type 2 diabetes accounts for 90% of all diabetes cases globally. As a result, the global market for diabetic drugs is likely to rise significantly throughout the forecast period. Diabetes can be treated with a variety of drugs, including insulin, metformin, and sulfonylureas. These drugs can be given intravenously, subcutaneously, or orally. Actos, Metformin, Lantus subcutaneous, Avandia, and Invokana are some of the most widely given type 2 diabetic medications.
The diabetes insulin market is experiencing a significant growth rate.
By Therapy, the global diabetes drugs Market is divided into Oral Drugs, Injectable drugs, and Insulin. Diabetes' rising prevalence is driving the global demand for diabetic insulin medicines. Insulin is essential for controlling blood sugar levels in people with type 1 and type 2 diabetes. Generic insulin variations are less expensive choices. The desire for novel insulin treatments that are more effective and convenient is increasing. Companies invest in enhanced insulin formulation research, such as long-acting and rapid-acting analogs. Insulin medication demand is being boosted further by technological improvements like insulin pumps and continuous glucose monitoring devices. The worldwide diabetes insulin medication market is expected to expand further due to rising diabetes incidence and a greater focus on diabetes treatment.
The ongoing advancements in DPP IV inhibitor therapies offer exciting opportunities to improve diabetes management and ultimately enhance patient outcomes.
By Oral Drugs, the global diabetes drugs market was segmented into (DPP) IV inhibitors, SGLT-2, alpha-glucosidase inhibitors, biguanide, and others. DPP IV inhibitors have the largest market share in the worldwide diabetes insulin drug market. These medications inhibit the enzyme dipeptidyl peptidase-4, which is important in blood sugar management. Diabetes is becoming more common, and there is a greater need for effective and accessible treatment choices, which is fueling the adoption of DPP IV inhibitors. DPP IV inhibitors are likely to retain their substantial market presence as the worldwide diabetes pandemic continues to expand, contributing considerably to the total growth of the diabetes insulin drug industry.
The continuous development and growing adoption of novel GLP-1 agonists have propelled their dominant position in the diabetes drug market.
By Injectable Drugs, the global diabetes drugs market is divided into Glucagon-like peptide (GLP) 1 agonists and Amylin receptor agonists. GLP-1 agonists have the biggest market share in the diabetic medication market. These medications replicate the actions of the GLP-1 hormone, which regulates blood sugar levels. They enhance glycemic control and weight management by increasing insulin release, inhibiting glucagon secretion, decreasing stomach emptying, and promoting a sense of fullness. GLP-1 agonists have received widespread praise from both healthcare experts and individuals for their amazing ability to lower HbA1c levels and improve cardiovascular health. As a result, they are the most popular option in the diabetic pharmaceutical market.
The demand for rapid-acting insulin is rapidly expanding in the diabetes drug market, showcasing substantial growth potential within the industry.
By Insulin, the global diabetes drugs market is sub-segmented into rapid-acting insulin, long-acting insulin, Premixed insulin, and Other Insulin. Rapid-acting insulin is rapidly expanding in the diabetes treatment industry. It gives people more control over their diabetes by rapidly lowering blood sugar levels after injection. With the rising incidence of diabetes comes an increased desire for efficient treatment alternatives, which leads to greater use of rapid-acting insulin. Because of its quick onset of action and short duration, this form of insulin has become 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 global diabetes drug market includes the United States, Canada, France, Germany, Italy, Spain, the United Kingdom, Mexico, Brazil, Japan, South Korea, China, India, Australia, Vietnam, Malaysia, Indonesia, the Philippines, Thailand, Saudi Arabia, Iran, Egypt, Oman, and South Africa. Due to the high prevalence of diabetes and the rising demand for efficient treatment alternatives, the diabetic medication business is booming in the United States. With a sizable diabetic population, there is a rising need for novel medications that can aid in disease management and improve patient outcomes. Key industry players are continually investing in research and development in order to launch new and enhanced medications. Technological advances, like insulin pumps and continuous glucose monitoring devices, are transforming diabetes care in the United States.
India's diabetes drug industry is set for substantial growth due to the rising diabetic population and the demand for effective treatments. Government initiatives to enhance healthcare infrastructure, increase awareness, and improve access to affordable options will drive market expansion. Advancements in pharmaceutical R&D and the prevalence of lifestyle-related diseases will fuel innovation in diabetes therapies. The industry will witness increased investments, collaborations, and product launches to meet the growing demand for diabetes management solutions.
Key Company
Leading companies such as 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. These major players drive innovation and contribute to the advancement of diabetes treatment options.
This latest report “Diabetes Drug Market, Global Forecast By Disease Type (Type 1 Diabetes and Type 2 Diabetes), Therapy ((DPP) IV inhibitor, SGLT - 2, Alpha Glucosidase Inhibitor, Biguanide and Others Oral Drug), Injection (Glucagon-like peptide (GLP) 1 agonist and Amylin receptor agonist), Insulin (Rapid - Acting Insulin, Long Acting Insulin, Premixed Insulin and Other Insulin), Countries (United States, Canada, France, Germany, Italy, Spain, UK, Mexico, Brazil, Japan, South Korea, China, India, Australia, Vietnam, Malaysia, Indonesia, Philippines, Thailand, Saudi Arabia, Iran, Egypt, Oman and South Africa), Companies (Novo Nordisk, AstraZeneca plc, Biocon, Sanofi, Eli Lilly, Johnson & Johnson, Bristol Myers Squibb Co., and Novartis AG)” provides a detailed analysis of Diabetes Drug Industry.
Disease Type - Market has been covered from 2 viewpoints:
1. Type 1 Diabetes Drug Market
2. Type 2 Diabetes Drug Market
Therapy - Market have been covered from 3 viewpoints:
1. Oral
- Oral (DPP) IV inhibitor
- SGLT - 2
- Alpha Glucosidase Inhibitor
- Biguanide
- Others Oral Drug
2. Injection
- Glucagon-like peptide (GLP) 1 agonist
- Amylin receptor agonist
3. Insulin
- Rapid - Acting Insulin
- Long Acting Insulin
- Premixed Insulin
- Other Insulin
Countries - Global Diabetes Drugs Market
1. North America
1.1 United States
1.2 Canada
1.3 Mexico
2. Latin America
2.2 Brazil
3. Europe
3.1 France
3.2 Germany
3.3 Italy
3.4 Spain
3.5 UK
4. Asia Pacific
4.1 Japan
4.2 South Korea
4.3 China
4.4 India
4.5 Australia
4.6 Vietnam
4.7 Malaysia
4.8 Indonesia
4.9 Philippines
4.10 Thailand
5. Middle East & Africa
5.1 Saudi Arabia
5.2 Iran
5.3 Oman
5.4 Egypt
5.5 South Africa
Company Insights:
- Overview
- Recent Development
- Financial Insights
Key Players Analysis
1. Novo Nordisk
2. AstraZeneca plc
3. Biocon
4. Sanofi
5. Eli Lilly
6. Johnson & Johnson
7. Bristol Myers Squibb Co.
8. Novartis AG
Table of Contents
Companies Mentioned
- Novo Nordisk
- AstraZeneca plc
- Biocon
- Sanofi
- Eli Lilly
- Johnson & Johnson
- Bristol Myers Squibb Co.
- Novartis AG
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 220 |
| Published | July 2023 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value ( USD | $ 69.56 Billion |
| Forecasted Market Value ( USD | $ 106.65 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
