Global Diabetes Drug Market Proliferate Relentlessly; Asserts MRFR Unleashing Industry Forecast Up to 2030

Pune, India, December, 2022/MRFR Press Release/- Market Research Future published a Cooked research report on “Global Diabetes Drug Market Research Report - Forecast till 2023”  – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2030

Diabetes occurs when the pancreas are not able to produce enough insulin to get body glucose into the cells. This shortage of insulin roots sugar to build up in the blood. According to the report published by International Diabetes Federation, in 2016, it was evaluated that 420 million adult population were suffering with diabetes. If the patients’ population will grow with the same phase it was projected that around 625 million people will suffer with the disease by 2040, at a rate of 8.4%.

Global Diabetes Drugs Market – Overview

The Diabetes Drug Market is expected to reach USD 76.9 billion by 2030 at 4.72% CAGR during the forecast period 2023-2030

The global diabetes drugs market is growing with a swift phase; mainly due to increase in patient population and research and development done by market players to fill the gap of market. The WHO estimated that diabetes leads to 1.6 million deaths in 2015 and it is the major causes of blindness, kidney failure, heart attacks, stroke, and lower limb amputation. Increase in incidence of chronic disease owing to diabetes will drag the interest of biopharmaceutical researchers for developing effective drugs for the treatment. More than 170 diabetes drugs are in the development stage to cure diabetes or diabetes related conditions. In 2014, the cost of diabetes diagnosis was around USD 245 billion in the United States, and biopharmaceutical researchers are focusing to find new lifesaving and life-changing treatments.

Companies are continuously engaged in merger and acquisition activities for the development of best medicine to cure affected diabetes population. In this regard, Merck & Co. and Pfizer are continuously working together from last four years to introduce best product and finally four year old alliance has reached fruition with the filling of three new products in year 2017. These companies was working together since 2013, and announced that studies of ertugliflozin, an investigational oral SGLT-2 inhibitor in evolution to help control glucose level in adults with type 2 diabetes, met their primary endpoints. The reviewing is now ongoing at the FDA and EMA, and the two market players will get the approval by the end of this year, saying that the trio of ertugliflozin products will provide add on option for treatment of type 2 diabetics. Merck and Pfizer hope to fill the gap of market along with leaders such as Novo Nordisk, Abbott, AstraZeneca, Biocon, Sanofi, and Novartis.

Top five selling Diabetes Drugs, 2016

Increase in the prevalence of diabetes around the globe is creating the huge scope for the market players to earn profit. These are the top five drugs that create significant revenue in 2016. Lantus is the drug introduce by Sanofi, and capture the highest market share with total sales of USD 3.9 billion followed by Januvia introduce by Merck & Co. with the sales of USD 2.29 billion. Victoza and Levemir hold the third and fourth position in global sales with USD 2.10 billion and USD 1.82 billion respectively. Humalog hold the fifth position with USD 1.69 billion. Introduce by Eli Lilly and Company. 

Global Diabetes Drugs Market   -

Regional Analysis

The market of diabetes drugs is much higher in Asia Pacific region, owing to obesity population, stress, and unhealthy life balance. These are the factor which leads the diabetes to the growing base of patient population in this region. Most of the countries of this region have common lifestyle and economic conditions. Government of developing countries within this region are more focusing towards new technology and advance treatment option, thus more research and development programs are initiated for the development of new drugs.  These are the factors which are fuelling the growth of the market of diabetes drugs with the significant rates. These advance drugs will overcome the saturation that occurs during last few years. Countries like India and china are more focused market for global market players owing to huge patient population and growing purchasing power as compare to other countries in this region. Japan is well developed country and have well established healthcare system and technology, whereas developing countries are still focusing on new drugs and technology for the treatment of diabetes patients, this gap between the developed and developing countries will present significant growth opportunity for the diabetes drugs market players in the next few years.

Global Key Players:  Eli Lilly (US), Novo Nordisk (Denmark), Abbott (US), AstraZeneca (UK), Biocon (US), Sunpharma (India), Sanofi (France), Novartis (Switzerland), Merck & Co. (US), Pfizer (US), Daiichi Sankyo (Japan), Boehringer Ingelheim (Germany), Akros Pharma (US), Amgen (US), Adocia (France), Peptron (South Korea), and Takeda (Japan)

Browse In-depth Market Details [Table of Content, List of Figures, List of Tables] of Diabetes Drug Market Research Report