DUBLIN--(BUSINESS WIRE)--The "Global Diabetes Drug Market Report by Drug class, Diabetes types, Route of Administration, Distribution Channels, Region and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
Global Diabetes Drug Market size is anticipated to be almost US$ 107.02 Billion by 2032 from US$ 63.02 Billion in 2023. The CAGR for the global diabetes drug market from 2024 to 2032 is 6.06%.
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 The US Food and Drug Administration (FDA) has authorized and withdrawn several medication regimens for diabetes treatment since the early discovery of insulin.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
- 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 US$ 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.
Company Analysis: Overview, Recent Developments, Revenue Analysis
- Novo Nordisk
- AstraZeneca plc
- Biocon, Sanofi
- Eli Lilly
- Johnson & Johnson
- Bristol Myers Squibb Co.
- Novartis AG
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 230 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $63.02 Billion |
| Forecasted Market Value (USD) by 2032 | $107.02 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Diabetes Drugs Market
6. Global Diabetes Drugs Market Share Analysis
6.1 By Drugs Class
6.2 By Diabetes Types
6.3 By Route of Administration
6.4 By Distribution Channels
6.5 By Countries
7. Drugs Class - Global Diabetes Drugs Market
7.1 Insulin
7.2 GLP-1 Receptor Agonists
7.3 DPP-4 Inhibitors
7.4 SGLT2 Inhibitors
7.5 Others
8. Diabetes Types - Global Diabetes Drugs Market
8.1 Type 1 Diabetes
8.2 Type 2 Diabetes
9. Route of Administration - Global Diabetes Drugs Market
9.1 Oral
9.2 Subcutaneous
9.3 Intravenous
10. Distribution Channels - Global Diabetes Drugs Market
10.1 Hospital Pharmacies
10.2 Rental Pharmacies
10.3 Online Pharmacies
10.4 Others
11. Countries - Global Diabetes Drugs Market
11.1 North America
11.1.1 United States
11.1.2 Canada
11.2 Europe
11.2.1 France
11.2.2 Germany
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Belgium
11.2.7 Netherlands
11.2.8 Turkey
11.3 Asia Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 South Korea
11.3.5 Thailand
11.3.6 Malaysia
11.3.7 Indonesia
11.3.8 Australia
11.3.9 New Zealand
11.4 Latin America
11.4.1 Brazil
11.4.2 Mexico
11.4.3 Argentina
11.5 Middle East & Africa
11.5.1 Saudi Arabia
11.5.2 United Arab Emirates
11.5.3 South Africa
12. Diabetes Drugs Clinical Trial & Development
12.1 Key Players Analysis
12.1.1 Enavogliflozin (Phase III): Daewoong
12.1.1.1 Product Description
12.1.1.2 Research and Development
12.1.1.3 Product Development Activities
12.1.2 Golimumab (Phase II): Janssen Biotech
12.1.3 IMCY-0098 (Phase II/I): ImCyse
12.2 Pre-clinical evaluation and discovery phase
12.2.1 ENT-001: Enthera
13. Porter's Five Forces Analysis - Global Diabetes Drugs Market
13.1 Bargaining Power of Buyers
13.2 Bargaining Power of Suppliers
13.3 Degree of Competition
13.4 Threat of New Entrants
13.5 Threat of Substitutes
14. SWOT Analysis - Global Diabetes Drugs Market
14.1 Strength
14.2 Weakness
14.3 Opportunity
14.4 Threats
For more information about this report visit https://www.researchandmarkets.com/r/lb2zmv
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
