Diabetes Drugs Market – Global Industry Insights, Market Size Estimation, Growth Forecast By Diabetes Types (Diabetes Mellitus such as Type 1 and Type 2 etc, Diabetes Insipidus such as Central and Nephrogenic etc), By Routes of Administration (Injection, Oral, Inhalables), By Drug Types (Insulin, Sensitizers, Secretagogues etc), By Regions, 2017 – 2025

The Global Diabetes Drugs Market size was valued at US$ 48,200 Million in 2018, is expected to reach US$ 75,470 Million by the end of 2025, with a CAGR of 5.9%

Diabetes Drugs Market – Introduction

The global diabetes drug market is expected to expand at a rapid pace in coming years. The diabetes drug market is segmented on the basis of diabetes type, route of administration, and geography. All types of drugs that are intended for patients suffering from diabetes fall under the purview of diabetes drugs. While diabetes generally refers to diabetes mellitus, diabetes insipidus is a relatively rare and unrelated disease. However, frequent urination is a symptom of both these diseases. Injected insulin is one of the most common forms of treatment for diabetes, while injected insulin is one of the most common forms of treatment for it. The primary reason for the growth of the diabetes drug products market can be attributed to the growing number of diabetic patients globally.

Report Overview

Market Dynamics

As of 2016, factors driving growth in demand for diabetes drugs included an increase in the number of patients diagnosed with various types of diabetes, growing initiatives from various governments to raise diabetes awareness, and relatively lower complexities and higher efficacy compared to alternative therapies. As per the World Health Organization (WHO), there were around 422 million people in 2014 who had been diagnosed with type 2 diabetes mellitus. Thus, around 8.5% of the world population was suffering from this disease in 2014, compared to only 108 million, or 4.7%, in 1980. Growth in unhealthy food consumption and unhealthy lifestyles is mostly linked to the rapid rise in the diabetic population. Hence, such rapid growth in the number of patients has led to heightened demand for diabetes drugs, thus positively impacting the growth of the diabetes drug market.

Additionally, various government organisations have been conducting awareness campaigns on type 2 diabetes mellitus as it is the most prevalent type of diabetes. Such campaigns were primarily organised to make people aware of the symptoms of diabetes, the ill-effects of diabetes, related diseases, the importance of consuming diabetes drugs on a timely basis, and the required diet modifications for diabetes patients. Such campaigns have been successful in raising the awareness level among patients and have thus positively impacted the growth of the diabetes drug market.

Furthermore, most alternative therapies for diabetes require strict diet maintenance and regular physical activity, among other restrictions, which most patients find difficult to adhere to. To a large extent, diabetes drugs aid patients in overcoming such hurdles, and hence the demand for these drugs has been growing. This, again, has been boosting the growth of the market. However, despite several awareness campaigns, the awareness of the harm caused by diabetes is quite low in most parts of the globe. This has been restraining the growth of the market for diabetes drugs. Also, as type 2 diabetes mellitus often leads to cardiovascular diseases, several diabetes drugs are known to increase the risks of cardiovascular diseases. Thus, drug regulators in various countries have been stringently monitoring the usage of these medicines and have been imposing different types of restrictions depending on the assessed safety requirements. This factor has also been restraining the growth of the market. The entry of several new drugs lined-up for approval, having better safety profiles and a growing diabetic population are expected to offer good opportunities for the diabetic drug market.

Segmentation Overview

The diabetes drug market, on the basis of diabetes type, has been segmented into diabetes mellitus and diabetes insipidus. Diabetes mellitus has been further segmented into Type 1, Type 2 and others. Others include diabetes mellitus such as gestational and other forms. Diabetes insipidus covers all forms of the disease, such as central and nephrogenic, among others. On the basis of routes of administration, the market has been segmented into injection, oral, and inhalables. Injections are further sub-divided into subcutaneous, intravenous, and intramuscular injections. On the basis of drug types, the market for diabetes drugs has been segmented into insulin, sensitizers, secretagogues, and others.

How Is The Market Segmented?

By geography, the market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America. In terms of revenue, North America held the largest share of the diabetes drug market, followed by Europe. Asia-Pacific is expected to become the largest market for diabetes drugs by the end of 2025.

Competitive Landscape

Leading players operating in the diabetes drugs market are Sanofi S.A. (France), Pfizer, Inc. (The U.S.), Novo Nordisk (Denmark), Eli Lilly and Company (The U.S.), Merck & Co., Inc. (The U.S.), Novartis AG. (Switzerland), AstraZeneca Plc (The U.K.), GlaxoSmithKline Plc (The U.K.), Biocon, Ltd.(India), and Abbott Laboratories (The U.S.) among others.

Who Are The Major Players In This Market?