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The Philippines oral anti-diabetic drug market is expected to grow at a CAGR of 4.4% during the forecast period of 2024-2032, driven by the increasing prevalence of diabetes along with the rising awareness about diabetes therapeutics in the region.
In the Philippines, diabetes is the fourth leading cause of mortality, with the incidence of the disease sharply rising in people more than 40 years of age. It is predicted that 5.2 million Filipino adults will have diabetes by 2030. In the Westen Pacific region, the incidence is estimated to affect around 260 million people by 2045. The chronic disease can result in kidney failures, blindness, stroke, and lower limb amputation. It is usually characterized by hyperglycemia (raised blood glucose) that can cause severe damage to the blood vessels and nerves. The rising prevalence and incidence of diabetes in the Philippines have surged the demand for effective therapeutics. Consequently, this will accelerate the Philippines oral anti-diabetic drug market growth in the coming years.
The consumption of unhealthy food and sedentary lifestyles are the major factors contributing to the growing diabetic population in the region. As the inclination towards processed foods is constantly rising, the need for improved and cost-effective anti-diabetic drugs will continue to grow. The key drivers of the market also include the increased approvals of oral anti-diabetic drugs by the health regulatory agencies and the release of new drugs into the market to meet the demands of diabetic patients. Additionally, government-led initiatives and programs to improve the healthcare system and facilitate better accessibility to healthcare facilities are expected to propel the Philippines oral anti-diabetic drug market share in the forecast period.
Surge in Oral Anti-Diabetic Drug Approvals
There has been a significant surge in approvals by health regulatory bodies related to oral anti-diabetic drugs, which are expected to provide more flexibility and wider opportunities to major pharmaceutical companies in the country. In June 2023 , the Food and Drug Administration (FDA) approved Jardiance (empagliflozin) and Synjardy (empagliflozin and metformin hydrochloride) developed by the leading pharmaceutical firms Eli Lilly and Boehringer Ingelheim. These oral medicines can be used to treat Type 2 diabetes in children aged 10 years or above. Jardiance and Synjardy are the only oral drugs available for children besides metformin that can help regulate blood sugar in pediatric patients, along with dietary adjustments and exercise.
Increased Accessibility to Drugs to Meet the Rising Philippines Oral Anti-Diabetic Drug Market Demand
Several leading pharmaceutical firms offering oral anti-diabetic drug candidates are tapping into emerging economies such as the Philippines where the demand for anti-diabetes drugs is extremely high. One of the significant market trends is the increased accessibility to new oral anti-diabetic drugs at competitive prices which will drive market growth in the forecast period. In March 2023, a South Korean-based company Daewoong Pharmaceutical Co., Ltd. announced the submission of a new drug application (NDA) in the Philippines, Thailand, and Indonesia, in the quest to provide a global market for their new diabetes drug Envlo. The first sodium-glucose cotransporter 2 (SGLT2) inhibitor drug has shown impressive blood sugar lowering and other effects required to effectively manage type 2 diabetes. The company intends to expand its market presence by penetrating 50 countries by 2030.
Market Breakup by Type
Market Breakup by Indication
Market Breakup by Application
Market Breakup by Distribution Channel
Manila, (national capital region) is poised to lead the Philippines oral anti-diabetic drug market share in the coming years. The growing market share can be attributed to the growing support from the government to improve healthcare services. In November 2023, World Diabetes Day in Manila was celebrated by conducting diabetes risk and blood sugar screening, awareness lectures, and exercise, among other activities. The day witnessed a free diabetes screening of over 7400 students from 25 public high schools. The program was aimed at raising awareness about diabetes and reducing the growing cases of Filipino diabetic patients expected to reach 7 million by 2030. The arrangement of such events indicates the rising trend of spreading relevant awareness regarding the condition.
Apart from Manila, other parts of the country, such as Baguio City and Central Luzon are witnessing rapid growth due to heightened awareness among patients and healthcare infrastructure developments.
In August 2023 , a leading global healthcare company Novo Nordisk A/S announced its plan to acquire Inversago Pharma, a Canadian biotechnology company for USD 1.075 billion in cash. The acquisition will involve Inversago’s leading oral CB1 inverse agonist, INV-202, which exhibited weight loss potential in the phase 1b trial and is currently undergoing a phase 2 trial for diabetic kidney disease. Novo Nordisk plans to further investigate the potential of the drug candidate for obesity, diabetes, and other metabolic diseases and reinforce its clinical development pipeline in severe chronic disorders. Such acquisition and merger initiatives to share resources and expertise among the key market players are anticipated to expand the market size in the region.
The key features of the Philippines oral anti-diabetic drug market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2017-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Indication |
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| Breakup by Application |
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| Breakup by Distribution Channel |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is anticipated to grow at a CAGR of 4.4% during the forecast period of 2024-2032, driven by the increasing prevalence of diabetes along with the rising awareness about diabetes therapeutics in the region.
The increased acquisitions and mergers initiatives by the key players and the robust support from the government to advance healthcare services are fuelling the demand for oral anti-diabetic drugs.
One of the significant trends in the Philippines market is the significant surge in approvals by health regulatory bodies related to oral anti-diabetic drugs. In June 2023, the Food and Drug Administration (FDA) approved Jardiance and Synjardy by the leading pharmaceutical firms Eli Lilly and Boehringer Ingelheim. These medicines are the only oral drugs available for children besides metformin that can help regulate blood sugar in pediatric patients, along with dietary adjustments and exercise.
Based on the indication, the market is divided into diabetes 1 and diabetes 2.
Based on the type, the market is segmented into biguanides, alpha-glucosidase inhibitors, dopamine D-2 receptor agonists, bromocriptine, SGLT-2 inhibitors, DPP-4 inhibitors, sulfonylureas, and meglitinides. Further, biguanides include metformin, while SGLT-2 inhibitors include invokana (canagliflozin), jardiance (empagliflozin), farxiga/forxiga (dapagliflozin), and suglat (ipragliflozin) and DPP-4 Inhibitors include Onglyza (Saxagliptin), Tradjenta (Linagliptin), Vipidia/Nesina (Alogliptin), and Galvus (Vildagliptin).
Major distribution channels of oral anti-diabetic drugs include online pharmacies, hospital pharmacies, and retail pharmacies.
Oral anti-diabetic drugs are used in prevention and treatment or care. Preventive applications include prediabetes, nutrition, obesity, and lifestyle management while treatment/care comprises diabetes, smoking cessation, musculoskeletal disorders, central nervous system disorders, cardiovascular disease, medication adherence, chronic respiratory disorders, gastrointestinal disorders, rehabilitation, substance use disorders, and addiction management.
Key players involved in the market are Takeda, Novo Nordisk, Pfizer, Eli Lilly and Company, Janssen Pharmaceuticals, Astellas, Boehringer Ingelheim, Merck and Co., AstraZeneca, Bristol Myers Squibb, Novartis, and Sanofi.
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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