The global diabetes care drugs market size was estimated to be USD 4.87 billion in 2023 and is expected to reach at USD 10.5 billion by 2033 with a CAGR of 7.19% during the forecast period 2023-2033. Surge in prevalence of diabetes, rising adoption of sedentary lifestyles, increasing awareness initiatives by health organizations, growing demand for diabetes drugs, surge in research & development activities for the development of diabetes treatments, rising advancements in diabetes diagnosis devices, growing development of new therapeutics, and increasing product approvals by regulatory bodies such as U.S. Food and Drug Administration (FDA) are some of the key factors boosting the market growth.
Increasing product approvals by regulatory bodies such as U.S. Food and Drug Administration (FDA) is predicted to boost the market growth during the forecast period. For instance, in July 2021, The FDA has granted approval to Semglee (insulin glargine-yfgn), a biosimilar of Lantus (insulin glargine), an extended-release insulin analog. Semglee is the initial interchangeable biosimilar insulin product authorized for enhancing glycemic control in both adults and pediatric patients with type 1 diabetes mellitus, as well as in adults with type 2 diabetes mellitus.
By Drugs, Insulin was the highest revenue-grossing segment in the global diabetes care drugs market in 2022 owing to the rising demand from the Type-1 diabetes population, increasing awareness about the benefits of insulin for diabetes patients, surge in research & development activities, and growing launch of innovative drugs. Additionally, GLP-1 Receptor Agonists is predicted to grow at fastest CAGR during the forecast period owing to the rising development of novel products and increasing product approvals by regulatory bodies. For instance, in May 2022, The FDA has granted approval for Mounjaro (tirzepatide) injection, a medication aimed at enhancing blood sugar control in adults diagnosed with type 2 diabetes. Mounjaro serves as an adjunct to diet and exercise. Clinical studies have shown that Mounjaro is not only effective in improving blood sugar levels but also surpasses other diabetes treatments in terms of effectiveness.
By Type, Type 2 was the highest revenue-grossing segment in the global diabetes care drugs market in 2022 owing to the increasing prevalence of diabetes type 1, rising therapeutic innovation, and growing introduction of advanced diabetes therapeutics. For instance, in January 2020, Eli Lilly and Company has introduced a new medication called Trijardy XR, which is a triple combination drug for type 2 diabetes. The tablet incorporates empagliflozin, linagliptin, and an extended-release form of metformin hydrochloride. The US Food and Drug Administration has granted approval for its usage. Trijardy XR will be offered in four different strengths and is recommended for once-daily administration, in conjunction with a balanced diet and regular exercise. Additionally, Type 1 is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of diabetes type 2, increasing advancements in diabetes diagnosis, and growing product approvals.
By Rote of Administration, Intravenous was the highest revenue-grossing segment in the global diabetes care drugs market in 2022 owing to the increasing prevalence of diabetes, rising demand for insulin, and surge in product approvals by U.S. Food and Drug Administration. For instance, in October 2022, Novo Nordisk intends to file a regulatory application for once-weekly insulin icodec, as they believe the trial results demonstrate its potential as the optimal insulin option for individuals with type 2 diabetes. The Danish pharmaceutical company plans to submit this application for regulatory approval in the US, EU, and China during the first half of 2023. The ONWARDS 5 phase 3a trial, which lasted for 52 weeks, compared once-weekly insulin icodec with once-daily basal insulin in adults with type 2 diabetes. Additionally, Oral is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of type-2 diabetes, cost-effectiveness of oral diabetes medications (OAD), and increasing advancement of new therapeutics.
By End-user, Hospital & Clinics was the highest revenue-grossing segment in the global diabetes care drugs market in 2022 owing to the presence of trained medical professionals, surge in number of patients visiting to hospitals for primary treatments, rising prevalence of diabetes & obesity, and growing product approvals. For instance, in October 2022, Eli Lilly and Company announced that the FDA has granted Fast Track designation for the investigation of tirzepatide in adults with obesity or overweight individuals who have weight-related comorbidities. Fast Track designation from the FDA aims to accelerate the development and review process of medications for serious conditions that address unmet medical needs. This designation is intended to expedite the availability of promising medicines to patients. Additionally, Ambulatory clinics is predicted to grow at fastest CAGR during the forecast period owing to the increasing patient awareness, growing development of innovative products, and rising approval of insulin products.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing prevalence of diabetes & obesity, surge in sedentary lifestyle, growing awareness regarding diabetes care, rising launch of new drugs, and increasing new product approvals by regulatory bodies. For instance, in January 2020, Novo Nordisk has disclosed that the FDA has granted approval to Fiasp (insulin aspart injection) 100 u/mL as a novel mealtime insulin choice for pediatric patients with diabetes. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising cases of diabetes, increasing research & development activities, growing demand for diabetes drugs, and surge in launch of innovative therapeutics. For instance, in April 2020, Natco Pharma, an India-based pharmaceutical company, has introduced a new product named Danpat, which is a cost-effective and affordable alternative to the medication Farxiga produced by AstraZeneca.
Increasing product approvals by regulatory bodies such as U.S. Food and Drug Administration (FDA) is predicted to boost the market growth during the forecast period. For instance, in July 2021, The FDA has granted approval to Semglee (insulin glargine-yfgn), a biosimilar of Lantus (insulin glargine), an extended-release insulin analog. Semglee is the initial interchangeable biosimilar insulin product authorized for enhancing glycemic control in both adults and pediatric patients with type 1 diabetes mellitus, as well as in adults with type 2 diabetes mellitus.
By Drugs, Insulin was the highest revenue-grossing segment in the global diabetes care drugs market in 2022 owing to the rising demand from the Type-1 diabetes population, increasing awareness about the benefits of insulin for diabetes patients, surge in research & development activities, and growing launch of innovative drugs. Additionally, GLP-1 Receptor Agonists is predicted to grow at fastest CAGR during the forecast period owing to the rising development of novel products and increasing product approvals by regulatory bodies. For instance, in May 2022, The FDA has granted approval for Mounjaro (tirzepatide) injection, a medication aimed at enhancing blood sugar control in adults diagnosed with type 2 diabetes. Mounjaro serves as an adjunct to diet and exercise. Clinical studies have shown that Mounjaro is not only effective in improving blood sugar levels but also surpasses other diabetes treatments in terms of effectiveness.
By Type, Type 2 was the highest revenue-grossing segment in the global diabetes care drugs market in 2022 owing to the increasing prevalence of diabetes type 1, rising therapeutic innovation, and growing introduction of advanced diabetes therapeutics. For instance, in January 2020, Eli Lilly and Company has introduced a new medication called Trijardy XR, which is a triple combination drug for type 2 diabetes. The tablet incorporates empagliflozin, linagliptin, and an extended-release form of metformin hydrochloride. The US Food and Drug Administration has granted approval for its usage. Trijardy XR will be offered in four different strengths and is recommended for once-daily administration, in conjunction with a balanced diet and regular exercise. Additionally, Type 1 is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of diabetes type 2, increasing advancements in diabetes diagnosis, and growing product approvals.
By Rote of Administration, Intravenous was the highest revenue-grossing segment in the global diabetes care drugs market in 2022 owing to the increasing prevalence of diabetes, rising demand for insulin, and surge in product approvals by U.S. Food and Drug Administration. For instance, in October 2022, Novo Nordisk intends to file a regulatory application for once-weekly insulin icodec, as they believe the trial results demonstrate its potential as the optimal insulin option for individuals with type 2 diabetes. The Danish pharmaceutical company plans to submit this application for regulatory approval in the US, EU, and China during the first half of 2023. The ONWARDS 5 phase 3a trial, which lasted for 52 weeks, compared once-weekly insulin icodec with once-daily basal insulin in adults with type 2 diabetes. Additionally, Oral is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of type-2 diabetes, cost-effectiveness of oral diabetes medications (OAD), and increasing advancement of new therapeutics.
By End-user, Hospital & Clinics was the highest revenue-grossing segment in the global diabetes care drugs market in 2022 owing to the presence of trained medical professionals, surge in number of patients visiting to hospitals for primary treatments, rising prevalence of diabetes & obesity, and growing product approvals. For instance, in October 2022, Eli Lilly and Company announced that the FDA has granted Fast Track designation for the investigation of tirzepatide in adults with obesity or overweight individuals who have weight-related comorbidities. Fast Track designation from the FDA aims to accelerate the development and review process of medications for serious conditions that address unmet medical needs. This designation is intended to expedite the availability of promising medicines to patients. Additionally, Ambulatory clinics is predicted to grow at fastest CAGR during the forecast period owing to the increasing patient awareness, growing development of innovative products, and rising approval of insulin products.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing prevalence of diabetes & obesity, surge in sedentary lifestyle, growing awareness regarding diabetes care, rising launch of new drugs, and increasing new product approvals by regulatory bodies. For instance, in January 2020, Novo Nordisk has disclosed that the FDA has granted approval to Fiasp (insulin aspart injection) 100 u/mL as a novel mealtime insulin choice for pediatric patients with diabetes. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising cases of diabetes, increasing research & development activities, growing demand for diabetes drugs, and surge in launch of innovative therapeutics. For instance, in April 2020, Natco Pharma, an India-based pharmaceutical company, has introduced a new product named Danpat, which is a cost-effective and affordable alternative to the medication Farxiga produced by AstraZeneca.
Segmentation: Diabetes Care Drugs Market Report 2022 - 2033
Diabetes Care Drugs Market Analysis & Forecast by Drugs 2022 - 2033 (Revenue USD Bn)
- Insulin
- GLP-1 Receptor Agonists
- SGLT2 Inhibitors
- DPP-4 Inhibitors
- Others
Diabetes Care Drugs Market Analysis & Forecast by Type 2022 - 2033 (Revenue USD Bn)
- Type 1
- Type 2
Diabetes Care Drugs Market Analysis & Forecast by Rote of Administration 2022 - 2033 (Revenue USD Bn)
- Intravenous
- Oral
- Subcutaneous
Diabetes Care Drugs Market Analysis & Forecast by End-user 2022 - 2033 (Revenue USD Bn)
- Hospitals & Clinics
- Ambulatory Clinics
Diabetes Care Drugs Market Analysis & Forecast by Region 2022 - 2033 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Diabetes Care Drugs Market: Drug Estimates & Trend Analysis
8. Diabetes Care Drugs Market: Type Estimates & Trend Analysis
9. Diabetes Care Drugs Market: Route of Administration Estimates & Trend Analysis
10. Diabetes Care Drugs Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Diabetes Care Drugs Market
13. Europe Global Diabetes Care Drugs Market
14. Asia Pacific Global Diabetes Care Drugs Market
15. Latin America Global Diabetes Care Drugs Market
16. MEA Global Diabetes Care Drugs Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Eli Lilly and Company
- Novo Nordisk A/s
- Merck & Co Inc
- Bayers AG
- AstraZeneca
- Sanofi
- Novartis AG
- Johnson & Johnson Services Inc.
- Takeda Pharmaceuticals Company Limited
- Boehringer Ingelheim International GmbH
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | August 2023 |
| Forecast Period | 2022 - 2033 |
| Estimated Market Value ( USD | $ 4.87 Billion |
| Forecasted Market Value ( USD | $ 10.5 Billion |
| Compound Annual Growth Rate | 7.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
