Global Diabetes Drugs Market Report and Forecast 2024-2032

Global Diabetes Drugs Market Outlook

The global diabetes drugs market value was USD 74.48 billion in 2023, driven by the increasing prevalence of diabetes across the globe. The market is forecasted to grow at a CAGR of 5.3% during the forecast period of 2024-2032 to achieve a value of USD 118.55 billion by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Asia Pacific to be Among the Leading Regions Owing to the Increasing Diabetic Population

The Asia Pacific region accounts for a significant share of the global market as it has a large diabetic population, China alone has more than 120 million diabetic people, and the number does not seem to stop. The rising number of diabetes patients can be due to multiple reasons, such as changing lifestyles, unhealthy diet, overconsumption of junk food, and obesity, among others. Looking at the scenario, various companies are developing new and cost-effective alternatives, anti-diabetic drugs. They have started advertising their products and treatments to spread awareness about the same. In addition to favourable government reimbursement policies, increasing development for insulins and improving healthcare infrastructure are propelling the market for diabetic drugs.

The growing inclination toward junk foods is a major factor why people become diabetic. The lifestyle is becoming increasingly hectic, and the inclination toward junk and processed foods is constantly rising, which keeps the need for constant development in the medical field alive. New drugs, such as Canagliflozin and dapagliflozin, are getting approved for the treatment of diabetes, which opens up numerous opportunities for both new and established competitors in the global diabetic medications industry.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Segmentations: Diabetes Drugs Market

Diabetes is a disease that occurs when the blood sugar levels rise up to extremely high levels, affecting body functions and other disruptions in the body. It is a chronic disease, and the types can be divided into Type1 and Type2. Diabetes drugs are used to control the sugar level through oral administration of insulin in the main treatment.

The drug types in the market can be divided into the following:

• Oral Anti-Diabetic Drugs
  • Alpha-Glucosidase Inhibitors
  • Biguanides 
  • Bile Acid Sequestrants
  • Dopamine-2 Agonists
  • DPP-4 inhibitors
  • Meglitinides
  • SGLT2 Inhibitors
  • Sulfonylureas
  • TZDs 
  • Oral Combination Therapy
• Insulin
  • Insulin Glargine
  • Insulin Aspart
  • Human Insulin
  • Biosimilar Insulin

The types of diabetes can be divided into the following:

• Type 1
• Type 2

The distribution channels of the diabetes drug market

• Online 
• Hospital 
• Retail Pharmacies

The regional markets for diabetes drugs market can be divided into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

The Increasing Diabetic Population Propelling the Market Growth

The market growth is majorly driven by the increasing cases of diabetes every day around the world. The degrading lifestyle and eating habits like excessive sugar-based food consumption, which does not seem to improve, are major reasons of concern as they can transform into other disorders like obesity, liver problems, and diabetes, among others. The demand for insulin is rising due to the increasing cases and especially among the type 1 diabetics, as the intake is greater in them.

To combat this ongoing issue, governments are increasing their investment in R&D. Healthcare organisations and pharmaceutical manufacturers are increasingly collaborating with the government to develop new products and cost-effective methods to support a wider group of population. The number of diabetes care centres is aiding the growth of the diabetes drugs market. Technological advancements in the diabetes diagnostics devices, such as portable glucometers, make it possible for people to track their blood glucose levels, and the increasing availability of these devices will drive the growth of the market as when the people become aware of the situation, they will be more likely to get treatment, which simultaneously raises the market for diabetes drugs.

Key Players in the Global Market for Diabetic Drugs

The report gives a detailed analysis of the following key players in the global diabetes drugs market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Novo Nordisk A/S
• Sanofi-aventis Groupe
• Merck & Co., Inc.
• Eli Lilly and Company.
• AstraZeneca plc
• Takeda Pharmaceutical Company Limited.
• Novartis AG
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report