Diabetes Drug Market Size was valued at USD 52.176 billion in 2023 and is projected to grow from USD 54.628 Billion in 2024 to USD 77.1 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.40% during the forecast period (2024 - 2032). The prevalence of diabetes is rising, technology is advancing, and emerging regions are adopting new technologies at an increasing rate are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Several significant key aspects are contributing to the expansion of the market. These factors encompass the rising prevalence of diabetes, the swift advancements in technology, and the quick uptake of new technologies in emerging regions in the global market. The increasing prevalence of diabetes can be attributed significantly to a poor dietary pattern and insufficient engagement in physical activities. The market's rapid rise may be attributed to several factors, including the increasing prevalence of diabetes and the proliferation of health awareness campaigns established by various health organizations.
Canagliflozin and dapagliflozin are two significant authorized diabetic drugs that have the potential to enhance opportunities for both emerging and incumbent rivals in the worldwide diabetes pharmaceuticals sector. The growth of the global market for diabetic drugs during the research period will be influenced by many key factors. These factors include the increasing incidence of diabetes, developments in technology, and the growing acceptability of diabetes medications in emerging regions. The sector is now experiencing delays mostly due to the presence of stringent rules and an extensive clearance procedure.
In October 2023, Sanofi presented groundbreaking results from the TZIELD Phase 3 data at ISPAD in October 2023, demonstrating new possibilities to slow down the progression of stage 3 type 1 diabetes in young children and teenagers within a short period. The full findings were also published simultaneously by The New England Journal of Medicine.
In August 2023, Saxagliptin 2.5 mg and 5 mg tablets, generic versions of AstraZeneca's diabetes medicine Onglyza, were granted final U.S. Food and medicine Administration (FDA) clearance by Aurobindo Pharma and Glenmark Pharmaceuticals, respectively. In a press release announcing final approval to manufacture and market the product that will be bioequivalent and therapeutically equivalent to the Onglyza 2.5 mg and 5mg tablets, the reference-listed drug, IQVIA stated that the product has an estimated market size of around $101 million for the twelve months ending in June 2023.
Sanofi presented groundbreaking results from the TZIELD Phase 3 data at ISPAD in October 2023, demonstrating new possibilities to slow down the progression of stage 3 type 1 diabetes in young children and teenagers within a short period. The full findings were also published simultaneously by The New England Journal of Medicine.
In August 2023, Novo Nordisk A/S and Inversago Pharma announced that they had agreed for the former to buy out the latter at a cash price of $1.075 billion or less, depending on certain milestones being reached. The company focuses on novel treatments for obesity, diabetes, and severe metabolic disorders.
Mounjaro (Tirzepatide) injection has been given the go-ahead by the FDA as additional therapy alongside diet and exercise in adults with type II diabetes mellitus – this helps them control their sugar levels; it was found to be more effective than other common drugs used in diabetics in clinical studies when lowering blood sugars.
Glargine insulin and liraglutide were better performers compared to three other medications approved by the U.S. Food and Drug Administration aimed at maintaining normal blood glucose levels.
The first interchangeable biosimilar insulin product as a biosimilar maker that has received approval is Semglee (insulin glargine) from the US FDA. In fact, it is perceived as the first interchangeable biosimilar for diabetes in America, thus allowing approvals of these insulin products to give patients access to safer, high-quality alternatives that may be cost-effective ways of treating this condition.
Mounjaro (Tirzepatide) injection has been given the go-ahead by the FDA as additional therapy alongside diet and exercise in adults with type II diabetes mellitus – this helps them control their sugar levels; it was found to be more effective than other common drugs used in diabetics in clinical studies when lowering blood sugars.
Glargine insulin and liraglutide were better performers compared to three other medications approved by the U.S. Food and Drug Administration aimed at maintaining normal blood glucose levels.
Diabetes is a deadly, chronic ailment for which there is no known cure. There are more than 300 million diabetics in the world, and treating them costs around 12% of all healthcare spending globally, according to the World Health Organization. Millions of people have been afflicted, making it a global epidemic. The considerable growth of the market may be attributed to elements like the increasing prevalence of diabetes and the rise in health awareness campaigns organised by different health organisations. 10% of cases of diabetes are Type-1, with Type-2 accounting for the remaining cases. The rise in obesity among people brought on by unhealthful meals and sedentary lifestyles is the main reason for the increase in diabetes patients. The Asia-Pacific market is primarily driven by China and India's rising need for diabetes medications. Almost 129 million people in China currently have diabetes, whereas 82 million people are anticipated to have the disease in India by 2027.
Depending on medications, the insulin sector commands a substantial market share. Insulin is required by more than 100 million individuals worldwide, including all those with Type-1 diabetes and 10% to 25% of those with Type-2 diabetes. Due to the complexity of insulin production, only some businesses on the market produce it. Because of this, there is intense competition among these makers, who consistently work to satisfy the patient's needs by supplying the highest-quality insulin. Therefore, such medical conditions related to medical has enhanced the Diabetes Drug market CAGR across the globe in recent years.
However, growing sedentary lifestyle adoption and an increase in the consumption of bad diets are other factors driving the growth of the Diabetes Drugs market revenue.
The Diabetes Drug Market segmentation, based on Type, includes Type-1 and Type-2. The Type-2 segment held the majority share in 2022, contributing to around ~65-67% of the Diabetes Drug Market revenue. The current state is attributable to the overwhelming incidence of type 2 caused by sedentary lifestyles and obesity in all age groups. Roughly 10% of instances of diabetes are type 1, while 90% of occurrences of diabetes worldwide are type 2. Hence, predicted to increase in the global demand for diabetic medications during the forecast period.
The Diabetes Drug Market segmentation, based on Administration, includes Oral and Intravenous. The Intravenous segment dominated the market in 2022 and is projected to be a faster-growing segment during the forecast period, 2022-2030, due to the growing number of diabetic patients. Hence, rising applications for Diabetes Drug positively impacts the market growth.
End Users have bifurcated the Diabetes Drug Market data into hospitals & Clinics and Ambulatory Clinics. The Hospital & Clinics segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030, due to the presence of skilled and competent staff and a fair reimbursement mechanism.
The fastest-growing segment in the Diabetes Drug industry is Ambulatory Clinics due to growing awareness among people.
Figure 1: Diabetes Drug Market, by End Users, 2023 & 2030` (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Based on Drug Class, the global Diabetes Drug industry has been segmented into Insulin, Sensitizers, SGLT-2 Inhibitors, and Alpha-Glucosidase Inhibitors. Insulin held the most significant segment share in 2022 due to the demand from more than 58 million people with Type-1 diabetes by the end of 2027. The World Diabetes Federation estimates that diabetes patients spent USD 966 billion in 2021, of which Type-1 diabetes patients spent a sizable portion on insulin medications. Patients with Type-2 diabetes who additionally need insulin are rare. Although Type-1 diabetes only affects 10% of people with the disease, their insulin requirements are higher. The demand for insulin is being driven by a rise in diabetes patient awareness, particularly in emerging economies. The insulin market is expanding due to several other factors, including the rapid development of insulin delivery devices and the creation of drugs and analogs by large corporations.
In December 2022 Glenmark Pharmaceuticals Ltd announced the release of a fixed-dose combination of Teneligliptin, Pioglitazone, and Metformin for the treatment of diabetes in India. Patients with Type 2 diabetes can benefit from better glucose control with the ease of once-daily dosing with this fixed-dose combination. Zita-PioMet is a new sustained-release (SR) medication for type 2 diabetes that includes the active ingredients teneligliptin (20 mg), pioglitazone (15 mg), and metformin (500 mg/1000 mg).
By August 2023 Akums Drugs and Pharmaceuticals Limited, a pharmaceutical company, recently released a novel formulation for the treatment of Type-2 Diabetes, targeted primarily at the senior population. According to Akums Drugs and Pharmaceuticals Limited, the new formulation is a combination drug designed for effective glycemic control among diabetes patients, and the company claims that the Drug Controller General of India (DCGI) has approved the treatment, calling it a "groundbreaking therapy" for the elderly with the disease. Vildagliptin SR and Metformin SR, both commonly used in the management of diabetes, will be combined to make the new therapy.
Diabetes Drug Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific Diabetes Drug market accounted for USD 22.3962 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The prevalence of diabetes is high. The diabetic medicine business has a lot of potential in another rising market.
Further, the significant countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: DIABETES DRUG MARKET SHARE BY REGION 2023 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In North America, the Diabetes Drug market accounts for the second-largest market share due to the Region's high rate of diabetes, which is caused by a sedentary lifestyle and the introduction of new medications there. Due to variables like the high prevalence of obesity and growing public awareness of the need for diabetes care in the area, the United States is predicted to experience a remarkable growth during the projection period. Because of the significant demand from the United States, North America has continued to be the largest market for insulin medications. Further, the US Diabetes Drug market held the largest market share, and the Canada Diabetes Drug market was the fastest-growing market in the North American Region.
The Europe Diabetes Drug Market is expected to grow at the fastest CAGR from 2022 to 2030. Many government agencies are investing more money in research and development, and growth in the prevalence of diabetes is expected to contribute significantly to the market share for diabetic medications in Europe. Moreover, favorable reimbursement policies, new launches of anti-diabetic pharmaceuticals, and increased public awareness of more unused anti-diabetic medications are all expected to stimulate the market for diabetic medicines in Europe. Further, the Germany Diabetes Drug market held the largest market share, and the UK Diabetes Drug market was the fastest-growing market in Europe.
Diabetes Drug Key Market Players & Competitive Insights
Major market players are investing a lot of money in R&D to expand their product lines, which will spur further growth in the Diabetes Drug market. In addition, market participants are launching new products, entering into contracts, acquiring companies, increasing investments, and working with other organizations, among other significant market changes, to expand their global footprint. To grow and survive in a more cutthroat and competitive market, competitors in the diabetes drug industry must provide affordable products.
Manufacturing locally to save money on overhead is one of the leading business tactics producers use in the Diabetes Drug Market to benefit consumers and increase the market sector. In recent years, Diabetes Drug industry has provided medicine with some of the most significant benefits. The Diabetes Drug market major player such as Novo Nordisk, Glenmark and others are working to expand the market demand by investing in research and development activities.
A worldwide pharmaceutical firm based in Bagsvaerd, Denmark, Novo Nordisk A/S has production facilities and affiliates or offices in nine different nations. In January 2020, Fiasp (insulin aspart injection) 100 u/mL has been authorised by the US Food and Drug Administration (FDA) for use as a novel mealtime insulin option for diabetic kids, according to Novo Nordisk. Fiasp sales are anticipated to rise during the projection period due to these advancements.
Also, Indian multinational pharmaceutical company Glenmark Pharmaceuticals Limited is based in Mumbai. As a treatment for seasonal allergic rhinitis, Glenmark Pharmaceuticals recently announced that it had entered into an exclusive licensing arrangement with Australia's Sequirus. Ryaltris is a fixed-dose combination nasal spray of an antihistamine and a steroid (SAR). In April 2019, Remogliflozin, a brand-new anti-diabetic medicine from Glenmark, was introduced in India. Remogliflozin, an SGLT2 inhibitor, will be sold under the trade names Remo and Remozen and used to treat type-2 diabetes mellitus in adults.
Key Companies in the Diabetes Drug market includes
Diabetes Drug Industry Developments
May 2022: In addition to diet and exercise, the U.S. Food and Drug Administration has approved Mounjaro (tirzepatide) injectable to help adults with type 2 diabetes better regulate their blood sugar levels. Clinical investigations have shown that Mounjaro is effective at lowering blood sugar and is superior to other diabetic treatments in this regard.
November 2021: Semglee, the first interchangeable biosimilar insulin medication, was approved by the U.S. Food and Drug Administration (insulin glargine). The interchangeable biosimilar medication Semglee was the first to be authorized to manage diabetes in the United States. If these insulin solutions are approved, patients will have more safe, more high-quality, and maybe affordable options for managing their diabetes.
Diabetes Drug Regional Outlook
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 52.176 billion |
| Market Size 2024 | USD 54.628 billion |
| Market Size 2032 | USD 77.1 billion |
| Compound Annual Growth Rate (CAGR) | 4.40% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 - 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type of Diabetes, Drug Class, Administration End Users, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Eli Lilly, Peptron , Novo Nordisk, Adocia, Abbott , Amgen, AstraZeneca , Boehringer Ingelheim, Sanofi , Merck & Co., Novartis |
| Key Market Opportunities | · Rise of the geriatric population is factor that offers more development opportunities · Rising health investments is increasing the market to high expansion and profitability |
| Key Market Dynamics | · Growing prevalence of diabetes · Wide range of therapies for diabetes enhances market demand |
Frequently Asked Questions (FAQ) :
The Diabetes Drug Market size was valued at USD 77.1 billion in 2032.
The global market is projected to grow at a CAGR of 4.40% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are Eli Lilly, Peptron , Novo Nordisk, Adocia, Abbott , Amgen, AstraZeneca.
The Type-2 category dominated the market in 2022.
The Hospital & Clinics had the largest share in the global market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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