Global Diabetes Drug Market Analysis
The Global Diabetes Drug Market is anticipated to be almost US$107.02 billion by 2032, up from US$63.02 billion in 2023. The CAGR for the market from 2024 to 2032 is 6.06%.
Diabetes is a chronic metabolic disorder characterized by high blood sugar levels resulting from either insufficient insulin production or ineffective use of insulin by the body. With over 460 million people affected worldwide, diabetes has become a significant public health concern, particularly in low- and middle-income countries.
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An excessively high blood glucose, or blood sugar, level is known as diabetes. The meals people eat provide them with glucose. Glucose is a necessary energy source for bodily cells. Insulin is a hormone that facilitates the uptake of glucose into the cells. Insulin is a diabetes medication that people with type 1 diabetes must take to manage their blood sugar. Some individuals with type 2 diabetes can manage their blood sugar with physical activity and a nutritious diet. For some, though, a diabetic diet and exercise regimen are insufficient. They must take medication for diabetes. The type of diabetes, daily activities, medication expenses, and any additional medical issues all influence the sort of medication a person takes. They can require the use of multiple diabetes medications over time.
The global diabetes drug market is growing due to several key factors. Firstly, the increasing prevalence of diabetes, driven by sedentary lifestyles, unhealthy diets, and aging populations, creates a higher demand for medications that can effectively manage the condition. Additionally, greater awareness of diabetes risk factors and improved access to healthcare services lead to earlier diagnosis and treatment initiation.
Recent technological advancements in drug development have led to new diabetes medications that offer improved efficacy and safety profiles. The market has witnessed the emergence of new classes of drugs, including sodium-glucose cotransporter-2 (SGLT2) inhibitors, glucagon-like peptide-1 (GLP-1) receptor agonists, and dipeptidyl peptidase-4 (DPP-4) inhibitors. These medications provide healthcare providers with additional treatment options for patients with diabetes, allowing them to customize treatment regimens according to individual patient needs.
Regulatory policies and healthcare infrastructure also influence the global diabetes drug market. Stringent regulatory requirements for drug approval ensure the safety and efficacy of diabetes medications, while government initiatives and healthcare reforms impact market access and affordability. In many countries, access to diabetes medications is facilitated through public health programs, insurance coverage, or subsidies, ensuring equitable patient access.
United States Diabetes Drug Market
The United States is expected to dominate the global diabetes drug market due to its increasing prevalence. About 37 million Americans are impacted by diabetes, and 352,000 Americans under the age of 20 have been diagnosed with diabetes. The worldwide diabetic drug industry is developing new medications to provide additional treatment options due to the disease's rising prevalence. Furthermore, the U.S. regulators will allow the sale of a new version of the well-known diabetic medicine Mounjaro as a weight-loss medication in November 2023, and the FDA has approved Eli Lilly's Zepbound or tripeptide, which has shown promising results in weight loss.
Global Diabetes Drug Company Analysis
The global diabetes drug industry includes Novo Nordisk, AstraZeneca plc, Biocon, Sanofi, Eli Lilly, Johnson & Johnson, Bristol Myers Squibb Co., and Novartis AG.
Global Diabetes Drug Company News
In January 2024 - Glenmark Pharmaceuticals Ltd. introduced a biosimilar version of the well-known anti-diabetic Ligutide in India. The medication is being sold under the LirafitTM brand after receiving approval from the Drug Controller General of India (DCGI). This will reduce therapy costs by about 70% and be available only with a prescription. It will cost about INR 100 for a regular dose of 1.2 mg per day.
In December 2023 - The U.S. weight-loss medication manufacturer Carmot Therapeutics, which creates diabetic and anti-obesity medications, is set to be acquired by Swiss pharmaceutical company Roche for $2.7 billion.
In November 2023 - AstraZeneca entered the weight-loss drug market with a bang, signing an exclusive license deal with a Chinese startup for a type 2 diabetes and obesity medication still in the early stages of development.
In October 2023 - Glenmark Pharmaceuticals launched a triple-fixed-dose combination (FDC) drug to treat diabetes. The Mumbai-based drug firm introduced the combination of Teneligliptin, Dapagliflozin, and Metformin under the brand name Zita.
In August 2023 - Lupin expanded its diabetic portfolio by acquiring Germany's GmbH's Ondero and Ondero Met.
Drugs Class – Market breakup in 5 viewpoints:
- Insulin
- GLP-1 Receptor Agonists
- DPP-4 Inhibitors
- SGLT2 Inhibitors
- Others
Diabetes Types – Market breakup in 2 viewpoints:
- Type 1 Diabetes
- Type 2 Diabetes
Route of Administration – Market breakup in 3 viewpoints:
- Oral
- Subcutaneous
- Intravenous
Distribution Channels – Market breakup in 4 viewpoints:
- Colonoscope Hospital Pharmacies
- Rental Pharmacies
- Online Pharmacies
- Others
Country – Market breakup of 25 Countries:
- North America
1.1 United States
1.2 Canada
- Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey
- Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand
- Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina
- Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 South Africa
All the Key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
- Novo Nordisk
- AstraZeneca plc
- Biocon, Sanofi
- Eli Lilly
- Johnson & Johnson
- Bristol Myers Squibb Co.
- Novartis AG
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