Diabetes Drug Market Report by Drug class (Insulin, GLP-1 Receptor Agonists, DPP-4 Inhibitors, SGLT2 Inhibitors, and Others), Diabetes types (Type 1 Diabetes, Type 2 Diabetes), Route of Administration (Oral, Subcutaneous, Intravenous), Distribution Channels (Hospital Pharmacies, Rental Pharmacies, Online Pharmacies, and Others), Region and Company Analysis 2024-2032

Global Diabetes Drug Market Analysis

Global Diabetes Drug Market size is anticipated to be almost US$ 107.02 Billion by 2032. The CAGR for the global diabetes drug market from 2024 to 2032 is 6.06%. Renub Research stated that it equalled to US$ 63.02 Billion in 2023. 

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.

Global Diabetes Drug Market Trends

•    Increase in the Prevalence of Diabetes

Diabetes is a costly and fatal illness. The World Health Organization (WHO) estimates that 422 million people worldwide have diabetes, and the disease is directly responsible for 1.5 million fatalities annually. The diabetic drug market is predicted to develop due to the rise of diabetes types. According to The Lancet, by 2050, there may be more than 1•31 billion diabetics on the planet. That translates to 1.31 billion people worldwide who suffer from a disease that can change their quality of life, has significant fatality rates, and interacts with or exacerbates numerous other illnesses. Currently, 90% of cases of diabetes are caused by type 2 diabetes. The NIH estimates there were 500,000 new instances of type 1 diabetes that year out of 8.4 million people living with the disease worldwide. The estimated 13.5-27.4 million individuals with T1DM will exist by 2040.

•    Public Awareness Campaigns add to the growth of the diabetic drug industry

Many public awareness-raising initiatives have been put into place throughout the years to try and avoid diabetes and its complications. The Pan American Health Organization stated that only roughly 50% of individuals with type 2 diabetes receive the necessary insulin, frequently due to financial constraints on their nation's healthcare systems. Many initiatives are developed by different organizations to aid with these issues. This is driving the worldwide diabetes drugs market. The World Health Organization's "Access to Diabetes Care" campaign, launched on World Diabetes Day in 2023, emphasized the need for fair access to essential healthcare services, including medication, technology, and support. It also aimed to increase public knowledge of strategies for lowering the risk of complications for those with diabetes. Events also honored the stories of those with diabetes in all its forms, encouraging those affected to take action by locating and accessing necessary medical care.

•    Product approvals propel the worldwide diabetes drug market

Diabetes is still a primary medical concern because of its rising incidence throughout the world and the strong correlations between chronic hyperglycemic states and obesity, liver disease, and several cardiovascular illnesses. The US Food and Drug Administration (FDA) has authorized and withdrawn several medication regimens for diabetes treatment since the early discovery of insulin. The global diabetes drug industry is predicted to rise with this rise in product approvals. One example is the approval of bexagliflozin (Brenzavvy, TheracosBio) by the US Food and Drug Administration (FDA) for treating adult type 2 diabetes in January 2023.

United States Diabetes Drug Market

The United States is expected to dominate the global diabetes drug market due to its increasing prevalence. The estimates from the US Census Bureau say that about 37 million Americans, both adults and children, are reportedly impacted. The American Diabetes Association estimates that 352,000 Americans under the age of 20 have been diagnosed with diabetes, or roughly 0.35% of the total population. It was projected that 5,300 people had type 2 diabetes and 18,200 people had type 1 diabetes among young people with a diagnosis per year.

The worldwide diabetic drug industry is developing as new medications are created to provide diabetic patients with additional treatment options due to the disease's rising prevalence. For example, 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. The United States Food and Drug Administration has approved Eli Lilly's Zepbound or tripeptide. According to a recent study, medication-assisted dieters lost 60 pounds (27 kilograms), or almost 25% of their body weight.

Global Diabetes Drug Company News

The global diabetes drug industry constitutes Novo Nordisk, AstraZeneca plc, Biocon, Sanofi, Eli Lilly, Johnson & Johnson, Bristol Myers Squibb Co., and Novartis AG.

• 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:

1.    Insulin
2.    GLP-1 Receptor Agonists
3.    DPP-4 Inhibitors
4.    SGLT2 Inhibitors
5.    Others

Diabetes Types – Market breakup in 2 viewpoints:

1.    Type 1 Diabetes
2.    Type 2 Diabetes

Route of Administration – Market breakup in 3 viewpoints:

1.    Oral
2.    Subcutaneous
3.    Intravenous

Distribution Channels – Market breakup in 4 viewpoints:

1.    Colonoscope Hospital Pharmacies
2.    Rental Pharmacies
3.    Online Pharmacies
4.    Others

Country – Market breakup of 25 Countries:

1.    North America

1.1    United States 
1.2    Canada

2. 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

3.    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

4.    Latin America

4.1    Brazil
4.2    Mexico
4.3    Argentina

5.    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:

1.    Novo Nordisk
2.    AstraZeneca plc
3.    Biocon, Sanofi
4.    Eli Lilly
5.    Johnson & Johnson
6.    Bristol Myers Squibb Co.
7.    Novartis AG
 

Report Details: