The global antidiabetics market size was estimated to be USD 100.01 billion in 2023 and is expected to reach USD 313.92 billion by 2034 with a CAGR of 10.96% during the forecast period 2024-2034. The rising prevalence of diabetes, advancements in drug development, technological advancements in insulin delivery, increasing awareness and education, government initiatives and policies, and increasing focus on personalized medicine will drive market growth.
One of the main factors propelling the global antidiabetics market is the rising incidence of diabetes. The rising number of people with diabetes is a result of sedentary lifestyles, urbanization, and lifestyle changes, which makes the usage of antidiabetic drugs necessary. New and improved antidiabetic drugs are introduced as a result of ongoing research and development in the field of diabetes. Market expansion is facilitated by advancements in targeted treatments, medication formulations, and delivery systems. For instance, Novo Nordisk A/S reported favorable Phase 3 trial results in October 2023 for IDegLira, a next-generation basal insulin, showing decreased risk of hypoglycemia and better blood sugar management than current choices.
By product type, the insulin segment accounted for the highest revenue-grossing segment in the global antidiabetics market in 2023 owing to the increasing prevalence of diabetes, advancements in insulin formulations and delivery systems, and a growing emphasis on personalized medicine, driving the demand for insulin-based therapies to effectively manage blood glucose levels in diverse patient populations. For instance, Sanofi S.A. and Verily entered into a strategic agreement in July 2023 to develop and commercialize AI-powered solutions for diabetes care to improve outcomes and tailoring therapy. Additionally, the SGLT-2 inhibitors segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising adoption of these drugs due to their efficacy in lowering blood glucose levels, favorable outcomes in cardiovascular and renal health, and increasing awareness among healthcare professionals and patients about the benefits of SGLT-2 inhibitors in the management of type 2 diabetes.
By application, the type 2 diabetes segment accounted for the highest revenue-grossing segment in the global antidiabetics market in 2023 owing to the escalating prevalence of type 2 diabetes worldwide, driven by factors such as sedentary lifestyles, unhealthy dietary habits, and an aging population, necessitating a substantial demand for a diverse range of oral antidiabetic drugs, injectables, and innovative treatment modalities tailored for the specific needs of individuals with type 2 diabetes. For instance, a major development in diabetes treatment was made in October 2023 when Eli Lilly and Company announced that the FDA had approved Mounjaro® (tirzepatide), a dual GIP and GLP-1 receptor agonist, for the treatment of type 2 diabetes. Additionally, the type 1 diabetes segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing focus on advanced insulin therapies, technological innovations in insulin delivery systems, and a growing understanding of the unique needs of individuals with type 1 diabetes.
By distribution channel, the retail pharmacy segment accounted for the highest revenue-grossing segment in the global antidiabetics market in 2023 owing to the widespread accessibility and convenience offered by retail pharmacies, enabling easy access for patients to procure antidiabetic medications, coupled with the expanding network of retail outlets and the growing trend of self-medication. For instance, at the American Diabetes Association (ADA) Scientific Sessions in October 2023, Merck & Co., Inc. presented results showing the long-term safety and effectiveness of Januvia® (sitagliptin) in conjunction with metformin for the treatment of type 2 diabetes. Additionally, the online pharmacy segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of digital platforms, rising consumer preference for convenient and contactless healthcare solutions, and the expanding e-commerce landscape.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, a high prevalence of diabetes, increased adoption of advanced antidiabetic therapies, and robust research and development activities. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing incidence of diabetes, rapid urbanization, lifestyle changes, a large and aging population, and efforts to improve healthcare infrastructure. For instance, AstraZeneca plc and Boehringer Ingelheim announced in October 2023 that they would be working together to develop and market a fixed-dose combination of Forxiga® (dapagliflozin) and Synjardy® (empagliflozin + metformin) for type 2 diabetes. This partnership will provide patients with more treatment convenience.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
One of the main factors propelling the global antidiabetics market is the rising incidence of diabetes. The rising number of people with diabetes is a result of sedentary lifestyles, urbanization, and lifestyle changes, which makes the usage of antidiabetic drugs necessary. New and improved antidiabetic drugs are introduced as a result of ongoing research and development in the field of diabetes. Market expansion is facilitated by advancements in targeted treatments, medication formulations, and delivery systems. For instance, Novo Nordisk A/S reported favorable Phase 3 trial results in October 2023 for IDegLira, a next-generation basal insulin, showing decreased risk of hypoglycemia and better blood sugar management than current choices.
By product type, the insulin segment accounted for the highest revenue-grossing segment in the global antidiabetics market in 2023 owing to the increasing prevalence of diabetes, advancements in insulin formulations and delivery systems, and a growing emphasis on personalized medicine, driving the demand for insulin-based therapies to effectively manage blood glucose levels in diverse patient populations. For instance, Sanofi S.A. and Verily entered into a strategic agreement in July 2023 to develop and commercialize AI-powered solutions for diabetes care to improve outcomes and tailoring therapy. Additionally, the SGLT-2 inhibitors segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising adoption of these drugs due to their efficacy in lowering blood glucose levels, favorable outcomes in cardiovascular and renal health, and increasing awareness among healthcare professionals and patients about the benefits of SGLT-2 inhibitors in the management of type 2 diabetes.
By application, the type 2 diabetes segment accounted for the highest revenue-grossing segment in the global antidiabetics market in 2023 owing to the escalating prevalence of type 2 diabetes worldwide, driven by factors such as sedentary lifestyles, unhealthy dietary habits, and an aging population, necessitating a substantial demand for a diverse range of oral antidiabetic drugs, injectables, and innovative treatment modalities tailored for the specific needs of individuals with type 2 diabetes. For instance, a major development in diabetes treatment was made in October 2023 when Eli Lilly and Company announced that the FDA had approved Mounjaro® (tirzepatide), a dual GIP and GLP-1 receptor agonist, for the treatment of type 2 diabetes. Additionally, the type 1 diabetes segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing focus on advanced insulin therapies, technological innovations in insulin delivery systems, and a growing understanding of the unique needs of individuals with type 1 diabetes.
By distribution channel, the retail pharmacy segment accounted for the highest revenue-grossing segment in the global antidiabetics market in 2023 owing to the widespread accessibility and convenience offered by retail pharmacies, enabling easy access for patients to procure antidiabetic medications, coupled with the expanding network of retail outlets and the growing trend of self-medication. For instance, at the American Diabetes Association (ADA) Scientific Sessions in October 2023, Merck & Co., Inc. presented results showing the long-term safety and effectiveness of Januvia® (sitagliptin) in conjunction with metformin for the treatment of type 2 diabetes. Additionally, the online pharmacy segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of digital platforms, rising consumer preference for convenient and contactless healthcare solutions, and the expanding e-commerce landscape.
North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, a high prevalence of diabetes, increased adoption of advanced antidiabetic therapies, and robust research and development activities. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing incidence of diabetes, rapid urbanization, lifestyle changes, a large and aging population, and efforts to improve healthcare infrastructure. For instance, AstraZeneca plc and Boehringer Ingelheim announced in October 2023 that they would be working together to develop and market a fixed-dose combination of Forxiga® (dapagliflozin) and Synjardy® (empagliflozin + metformin) for type 2 diabetes. This partnership will provide patients with more treatment convenience.
This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product Type, Application, and Distribution Channel
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
- 20% Free Customization Available to Meet Your Exact Requirement.
Segmentation: Antidiabetics Market Report 2023 - 2034
Antidiabetics Market Analysis & Forecast by Product Type 2023 - 2034 (Revenue USD Bn)
- Insulin
- Biguanides
- Sulfonylureas
- DPP-4 inhibitors
- SGLT-2 inhibitors
Antidiabetics Market Analysis & Forecast by Application 2023 - 2034 (Revenue USD Bn)
- Type 1 diabetes
- Type 2 diabetes
Antidiabetics Market Analysis & Forecast by Distribution Channel 2023 - 2034 (Revenue USD Bn)
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
Antidiabetics Market Analysis & Forecast by Region 2023 - 2034 (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. Antidiabetics Market: Type Estimates & Trend Analysis
8. Antidiabetics Market: Application Estimates & Trend Analysis
9. Antidiabetics Market: Distribution Channel Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Antidiabetics Market
12. Europe Global Antidiabetics Market
13. Asia Pacific Global Antidiabetics Market
14. Latin America Global Antidiabetics Market
15. MEA Global Antidiabetics Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Novo Nordisk A/S
- Sanofi S.A.
- Eli Lilly and Company
- Merck & Co. Inc.
- AstraZeneca plc
- Johnson & Johnson
- Boehringer Ingelheim International GmbH
- Abbott Laboratories
- GlaxoSmithKline plc
- Bristol-Myers Squibb Company
- Novartis AG
- Pfizer Inc.
- Sun Pharmaceutical Industries Ltd.
- Takeda Pharmaceutical Company Limited
- Roche Holding AG.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | March 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 100.01 Billion |
| Forecasted Market Value ( USD | $ 313.92 Billion |
| Compound Annual Growth Rate | 10.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
