Diabetes Drugs - Global Market Insights, Competitive Landscape, and Market Forecast - 2028

Diabetes Drugs - Global Market Insights, Competitive Landscape, and Market Forecast - 2028

Diabetes Drug Market By Drug Type (Insulin, Non-Insulin Drugs, Combination Drugs, And Others), Route Of Administration (Oral, Intravenous, And Subcutaneous), Distribution Channel (Offline And Online) and geography is expected to grow at a steady CAGR forecast till 2028 owing to the rising prevalence of diabetes and various research advancements in drug development during the forecast period from 2023-2028.

The global Diabetes Drug market was valued at USD XX million in 2022, growing at a CAGR of XX% during the forecast period from 2023 to 2028 to reach USD XX million by 2028. The demand for Diabetes Drug is primarily being boosted owing to factors such as the increasing prevalence of lifestyle disorders, such as diabetes and obesity, increasing awareness, the improvement in patient adherence and compliance to the treatment regimen, the rising focus on improving mass health, and strategic awareness activities by global bodies among others, during the forecast period from 2023-2028.

Diabetes Drug Market Dynamics:

One of the major driver for the diabetes drug market is the increasing prevalence of diabetes among the population globally. Diabetes is a chronic condition that occurs either when the body cannot use the insulin produced effectively or when the pancreas does not produce enough insulin.

As per statistics by the IDF Diabetes Atlas (2022), 537 million adults were living with diabetes in 2021. This number is predicted to rise to 643 million by 2030 and 783 million by 2045. Moreover, the increasing number of overweight and obese people across the globe including adults and children is anticipated to bolster the market growth for diabetes drugs as obesity tends to increase the risk for diabetes.

According to the World Obesity Federation 2022, it has been predicted that by 2030 about 1 billion people around the world, including 1 in 5 women and 1 in 7 men, will be living with obesity. As per the World Health Organization 2021, worldwide about 39 million children aged below 5 years were overweight or obese in 2020.

Moreover, recent drug launches in the diabetes drug market by key market players is also expected to drive the market growth for Diabetes Drug in the upcoming years.

For example, in January 2024, Glenmark Pharmaceuticals Ltd., a research-led, global pharmaceutical company, launched a biosimilar of the popular anti-diabetic drug, Liraglutide, for the first time in India. The drug is being marketed under the brand name Lirafit™ following the approval from the Drug Controller General of India (DCGI).

Hence, the interplay of all the above-mentioned factors is anticipated to increase the overall market growth for diabetes drugs during the forecast period from 2023 – 2028.

However, the availability of alternative devices for the treatment and management of diabetes, high costs of treatment through diabetes drugs, among others is anticipated to restrain the market growth of diabetes drugs during the given forecast period from 2023-2028.

Diabetes Drug Market Segment Analysis:

Diabetes Drug Market By Drug Type (Insulin, Non-Insulin Drugs, Combination Drugs, And Others), Route Of Administration (Oral, Intravenous, And Subcutaneous), Distribution Channel (Offline And Online), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the drug type segment of the Diabetes Drug market, the insulin category is expected to amass a significant revenue share in the year 2022, owing to the large amount of population associated with Type-1 diabetes and the increasing demand for insulin drugs, among others during the forecast period.

According to the International Diabetes Federation, Type-1 diabetes patients globally spent USD 966 billion in 2021, spending the majority of this on insulin medications. Few Type 2 diabetes patients additionally require insulin. Although Type-1 diabetes affects just 10% of the population, it is associated with greater insulin intake.

Moreover, the demand for insulin or diabetes treatment medications is being pushed by an increased understanding of insulin's benefits for diabetic patients, particularly in emerging economies. Other factors that may drive insulin market growth include rapid development of insulin delivery systems, medication and analog development by key businesses, and an increase in the elderly and obese population.

Moreover, the rising insulin drug approvals and the expected developments in the insulin category is also expected to boost the market demand for insulin during the forecast period.

For example, in March 2023, Sanofi received marketing authorization for its new long acting insulin diabetes drug Soliqua from the Central Drugs Standard Control Organization (CDSCO). Soliqua is indicated as a treatment to improve glycemic control as an adjunct to diet and exercise, in adults with obesity and type 2 diabetes who are insufficiently controlled on oral or injectable therapies. It comes in once daily dosing of pre-filled pens in fixed-ratio combination of 10-40 and 30-60 of insulin glargine and lixisenatide.

In addition, in 2022, the non-profit drugmaker Civica said that it expects to launch lower-cost versions of insulin in the United States by 2024, to help diabetic patients struggling with high prices for the life-sustaining medicine.

Therefore, the increasing population associated with diabetes, and increasing preference for insulin drugs, along with recent approvals, and expected drug launches at lower costs in the upcoming years present a positive outlook among other drug types in the insulin category of the Diabetes Drug market.

North America is expected to dominate the overall Diabetes Drug Market:

Among all the regions, North America is estimated to account for the largest share of the Diabetes Drug market in the year 2022. Owing to the region's high prevalence of diabetes attributed to sedentary lifestyles, rising obesity rates, launch of new medications, greater emphasis on diabetes care among others is expected to drive the market growth for diabetes drugs in North America.

Several surveys have indicated that inhabitants of the United States and Canada are increasingly adopting Diabetes Drug applications due to the convenience and comfort they provide. Every year, roughly 1.75 million Americans are diagnosed with diabetes, and the country also has a high prevalence of obesity, which is a major cause of Type 2 diabetes.

Presence of key organizations such as the American Diabetes Association, seeks to raise public awareness by sponsoring critical research and development operations for diabetes management, cure, and prevention, among others in the US, and thus in North America.

Moreover, the traditional human insulin drug sector is expected to expand in the US due to its affordability for patients, with humulin and Novolin carrying the largest market share in the country. Thus, due to the need for generic competitors for the traditional human insulin medication market in the United States, market competition among the key players is expected in the upcoming years, which is also anticipated to fuel market expansion for diabetes drugs throughout the forecast period.

Hence, the interplay of all the above-stated factors are likely to boost the Diabetes Drug market in North America during the forecast period (2023-2028).

Diabetes Drug Market Key Players:

Some of the key market players operating in the Diabetes Drug market include Sanofi, AstraZeneca, Pfizer, Johnson & Johnson, Novartis, Merck & Co., Novo Nordisk, Eli Lilly and Company, Biocon, Bristol Myers Squibb, Boehringer Ingelheim, Bayer AG, Teva Pharmaceuticals, Glenmark Pharmaceuticals, Cadila Pharmaceuticals, and others.

Recent Developmental Activities in the Diabetes Drug Market:

In October 2023, Sanofi released groundbreaking positive results from the TZIELD Phase 3 data presentation at ISPAD, highlighting its potential in slowing the progression of Stage 3 type 1 diabetes among diagnosed children and adolescents in the study

In February 2023, Akums and Drugs and Pharmaceutical Limited, a contract drug manufacturing company, announced the launch of the Lobeglitazone drug for the treatment of type 2 diabetes in India.

In May 2022, the U.S. Food and Drug Administration approved Mounjaro (tirzepatide) injection, a non-insulin diabetes drug, to improve blood sugar control in adults with type 2 diabetes, as an addition to diet and exercise. Mounjaro was effective at improving blood sugar and was more effective than the other diabetes therapies with which it was compared in clinical studies.

Key Takeaways from the Diabetes Drug Market Report Study

Market size analysis for current Diabetes Drug market size (2022), and market forecast for 5 years (2023-2028)

Top key research and clinical developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global Diabetes Drug market.

Various opportunities available for other competitors in the Diabetes Drug market space.

What are the top-performing segments in 2022? How these segments will perform in 2028?

Which are the top-performing regions and countries in the current Diabetes Drug market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Diabetes Drug market growth in the coming future?

Target Audience who can benefit from this Diabetes Drug Market Report Study

Diabetes Drug Manufacturers

Contract Research organizations and consulting companies

Diabetes Drug-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in Diabetes Drug

Various end-users who want to know more about diabetes drugs and the total patient base associated with diabetes globally, along with the latest research developments in the Diabetes Drug market.

Frequently Asked Questions for the Diabetes Drug Market:

1. What is Diabetes Drug?

Diabetes drugs help in the treatment and management of diabetes by controlling and regulating the patient’s blood sugar through diet, through insulin or non-insulin drugs delivered to the body orally, subcutaneously or intravenously.

2. What is the market for global Diabetes Drug?

The global Diabetes Drug market was valued at USD XX million in 2022, growing at a CAGR of XX% during the forecast period from 2023 to 2028 to reach USD XX million by 2028.

3. What are the drivers for the global Diabetes Drug market?

The demand for Diabetes Drug is primarily being boosted owing to factors such as the increasing prevalence of lifestyle disorders, such as diabetes and obesity, increasing awareness, the improvement in patient adherence and compliance to the treatment regimen, the rising focus on improving mass health, and strategic awareness activities by global bodies among others, during the forecast period from 2023-2028.

4. Who are the key players operating in the global Diabetes Drug market?

Some of the key market players operating in the Diabetes Drug market include Sanofi, AstraZeneca, Pfizer, Johnson & Johnson, Novartis, Merck & Co., Novo Nordisk, Eli Lilly and Company, Biocon, Bristol Myers Squibb, Boehringer Ingelheim, Bayer AG, Teva Pharmaceuticals, Glenmark Pharmaceuticals, Cadila Pharmaceuticals, and others.

5. Which region has the highest share in the Diabetes Drug market?

North America is expected to dominate the overall Diabetes Drug market during the forecast period from 2023-2028. Owing to the region's high prevalence of diabetes attributed to sedentary lifestyles, rising obesity rates, launch of new medications, greater emphasis on diabetes care among others is expected to drive the market growth for diabetes drugs in North America during the forecast period from 2023-2028.

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