Diabetes Drugs Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Diabetes Drugs Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Diabetes Drugs Market

The diabetes drugs market size was valued at USD 79.25 billion in 2023, and the market is now projected to grow from USD 89.39 billion in 2024 to USD 153.98 billion by 2032, exhibiting a CAGR of 7.0% during the forecast period of 2024-2032.

The sales revenue declined due to limited patient access at healthcare facilities due to COVID-19. The pandemic however took a u-turn in 2021 as the soak in hospitalizations and diabetes detections escalated demand the diabetes drugs market growth in a bid to facilitate the proliferation of medications meant for diabetes treatment. Resultantly, the increase in the post-pandemic levels of hospital admissions and the launch of new diabetes remedies brought forth by active participants enabled the expansion of the market in 2021.

The rise in research and development investments and availability of low-priced insulin will enhance diabetes drugs market share at the same time high expenses related to standard therapies serve as market demand for new unbranded drugs like insulin. Also, there is an increase in demand for innovative blood sugar-regulating medications which increases diabetes drugs market share. Consequently, these elements will propel the market uphill during the stated period.”

Furthermore, rising awareness of diabetes and its complications is driving the high adoption of diabetes drugs globally. With high disease prevalence, industry players and governments are promoting increased drug adoption among diabetic patients. Various campaigns and funding initiatives are being launched to support these efforts, propelling market growth.

Comprehensive Analysis of Diabetes Drugs Market

The diabetes drugs market and healthcare industry are rapidly expanding due to detailed market segmentation. This growth is driven by the key supply and demand dynamics affecting the pharmacy industry. The market is divided by drug class, diabetes type, route of administration, and distribution channel. The drug class includes Insulin, GLP-1 Receptor Agonists, DPP-4 Inhibitors, SGLT2 Inhibitors, and Others. The diabetes type includes Type 1, and Type 2. The route of administration includes Oral, Subcutaneous and Intravenous. In the end distribution channel includes Online pharmacies, Hospital Pharmacies, and Retail Pharmacies.

North America is expected to lead the market on account of the increased budgets for research and development and growing instances of diabetes through 2023. This will push the region into market increases because of multiplied public recognition, new anti-diabetics as well as reimbursement guidelines.

Key industry players are essential in driving growth and establishing market standards within the healthcare industry, ensuring a positive outlook for the sector. These players include, Novo Nordisk A/S (Denmark), Sanofi (France), Merck & Co., Inc. (U.S.), Eli Lilly and Company (U.S.), AstraZeneca (U.K.), Takeda Pharmaceutical Company Limited (Japan), Boehringer Ingelheim International GmbH (Germany), Novartis AG (Switzerland), Johnson & Johnson Services, Inc. (U.S.) and Bayer AG (Germany)

In January 2024, Glenmark Pharmaceuticals Ltd has just introduced a new diabetes product called Lirafit that goes for only 1.21 USD every day to get a 1.2 mg dosage of it.

Segmentation Table

GlobalDiabetes Drugs Market Scope

Study Period 2019-2032

Base Year 2023

Forecast Period 2024-2032

Growth Rate CAGR of 7.0% from 2024-2032

Historical Period 2019-2022

Unit Value (USD Billion)

Segmentation By Drug Class, Diabetes Type, Route of Administration, Distribution Channel, and Region

By Drug Class Insulin

DPP-4 Inhibitors

GLP-1 Receptor Agonists

SGLT2 Inhibitors

Others

By Diabetes Type Type 1

Type 2

By Route of Administration Oral

Subcutaneous

Intravenous

By Distribution Channel Online pharmacies

Hospital Pharmacies

Retail Pharmacies

By Region North America (By Drug Class, Diabetes Type, Route of Administration, Distribution Channel, and Country)

- U.S.

- Canada

Europe (By Drug Class, Diabetes Type, Route of Administration, Distribution Channel, and Country)

- Germany

- France

- U.K.

- Spain

- Italy

- Rest of Europe

Asia Pacific (By Drug Class, Diabetes Type, Route of Administration, Distribution Channel, and Country)

- China

- India

- Southeast Asia

- Japan

- Australia

- Rest of Asia Pacific

Latin America (By Drug Class, Diabetes Type, Route of Administration, Distribution Channel, and Country)

- Mexico

- Brazil

- Rest of Latin America

Middle East & Africa (By Drug Class, Diabetes Type, Route of Administration, Distribution Channel, and Country)

- GCC

- South Africa

- Rest of the Middle East & Africa


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