Philippines Oral Anti-Diabetic Drug Market Report and Forecast 2024-2032

Philippines Oral Anti-Diabetic Drug Market Outlook

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.

Philippines Oral Anti-Diabetic Drug Market Overview

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.

Philippines Oral Anti-Diabetic Drug Market Segmentation

Market Breakup by Type

• Biguanides
  • Metformin

• Alpha-Glucosidase Inhibitors

• Dopamine D-2 receptor agonist

• Bromocriptine

• SGLT-2 Inhibitors
  • Invokana (Canagliflozin)
  • Jardiance (Empagliflozin)
  • Farxiga/Forxiga (Dapagliflozin)
  • Suglat (Ipragliflozin) 

• DPP-4 Inhibitors
  • Onglyza (Saxagliptin)
  • Tradjenta (Linagliptin)
  • Vipidia/Nesina (Alogliptin)
  • Galvus (Vildagliptin)

• Sulfonylureas

• Meglitinides

Market Breakup by Indication

• Diabetes 1

• Diabetes 2

Market Breakup by Application

• Preventive
  • Prediabetes
  • Nutrition
  • Obesity
  • Lifestyle Management

• Treatment/Care
  • Diabetes
  • Smoking Cessation
  • Musculoskeletal Disorders
  • Central Nervous System Disorders
  • Cardiovascular Disease
  • Medication Adherence
  • Chronic Respiratory Disorders
  • Gastrointestinal Disorders
  • Rehabilitation
  • Substance Use Disorders & Addiction Management

Market Breakup by Distribution Channel

• Online Pharmacies

• Hospital Pharmacies

• Retail Pharmacies

Philippines Oral Anti-Diabetic Drug Market Regional Analysis

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.

 
Philippines Oral Anti-Diabetic Drug Market: Competitor Landscape

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:

• Takeda

• Novo Nordisk

• Pfizer

• Eli Lilly and Company

• Janssen Pharmaceuticals

• Astellas

• Boehringer Ingelheim

• Merck and Co.

• AstraZeneca

• Bristol Myers Squibb

• Novartis

• Sanofi

 Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report