COMBINATION ANTI-DIABETES DRUGS MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

COMBINATION ANTI-DIABETES DRUGS MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

The Combination Anti-Diabetes Drugs Market is set to witness a CAGR of more than 6%, during the forecast period 2022-2027. The market is estimated to reach a value of more than USD 8 billion by 2027.

Diabetes mellitus increases the risk of viral infections, especially during the period of poor glycemic control. Emerging evidence suggests that it is one of the most common comorbidities in the SARS-CoV-2 infection. The COVID-19 pandemic has substantially impacted the combination anti-diabetes drugs market. The prevalence of diabetes in people hospitalized with COVID-19 infection and the recognition that improved glycemic control might improve outcomes and reduce the length of stay in patients with SARS-CoV-2 have underlined the importance of the combination anti-diabetes drugs. People with diabetes have a weaker immune system, the COVID-19 complication aggravates the condition, and the immune system gets weaker very fast. Diabetes and uncontrolled hyperglycemia are risk factors for poor outcomes in patients with COVID-19 including an increased risk of severe illness or death. Moreover, the management and therapy are complex for individuals with diabetes who are acutely unwell with suspected or confirmed COVID-19. Thus, the COVID-19 outbreak increased the combination anti-diabetes drugs market's growth globally.

Generally, metformin is recommended as an initial treatment for patients with diabetes. At the same time, it is recognized that monotherapy does not provide adequate glucose control in a large proportion of patients and that many patients will experience unacceptable side effects with a higher dosage of a single agent. Fixed dose combination antidiabetic medications are a useful and appropriate treatment option in this large group of patients to maintain good glycemic control. The combination drug therapy helps to keep the HbA1c value below 7% for a patient. Combination therapy at low doses minimizes the side effects associated with high dose therapy of either agent and provides additive clinical benefits.

According to International Diabetes Federation (IDF), the adult diabetes population in 2021 is approximately 537 million, and this number is going to increase by 643 million in 2030. The rate of newly diagnosed cases of Type 1 and Type 2 diabetes is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure worldwide are indications of the increasing usage of anti-diabetic drugs. Technological advancements and innovations have increased over the period leading to several modifications either in the drugs or the formulations being developed.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.

Key Market TrendsJanumet Occupied the Highest Market Share in the Combination Anti-Diabetes Drugs Market in 2021

Janumet held the highest share in 2021, with a revenue of more than USD 2 billion in the Combination Anti-Diabetes Drugs Market.

Janumet contains a combination of metformin and sitagliptin. Metformin and sitagliptin are oral diabetes medicines that help control blood sugar levels. Metformin works by decreasing glucose production in the liver and decreasing absorption of glucose by the intestines. Sitagliptin works by regulating the levels of insulin the body produces after eating. Janumet is used together with diet and exercise to improve blood sugar control in adults with type 2 diabetes mellitus. Janumet is not used to treat type 1 diabetes.

Combination oral drugs have been available internationally and are recommended for use when escalation of treatment for type 2 diabetes is required along with lifestyle management. Oral agents are typically the first medications used in the treatment of type 2 diabetes due to their wide range of efficacy, safety, and mechanisms of action. Combination oral drugs help diabetes patients to keep their condition under control and lower the risk of diabetes complications. People with diabetes may need to take antidiabetic drugs for their whole lives to control their blood glucose levels and avoid hypoglycemia and hyperglycemia. Oral anti-diabetic agents present the advantages of easier management and lower cost, so they became an attractive alternative to insulin with better acceptance, which enhances adherence to the treatment.

Globally, people have witnessed an alarming increase in the prevalence of diabetes, in recent years. Patients with diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as oral anti-diabetic medication or ingestion of additional carbohydrates by monitoring their blood glucose levels. The rate of newly diagnosed Type 1 and Type 2 diabetes cases is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure are indications of the increasing usage of diabetic drugs.

Owing to the aforementioned factors and the increasing prevalence it is likely that the market will continue to grow.

North America is Expected to Dominate the Combination Anti-Diabetes Drugs market in terms of revenue

North America holds the highest market share in the Combination Anti-Diabetes Drugs Market and is also expected to register a CAGR of more than 6% in the forecast period.

Combination Anti-diabetic drugs are medicines developed to stabilize and control blood glucose levels amongst people with diabetes. According to the Division of Metabolism and Endocrinology Products in the FDA’s Center for Drug Evaluation and Research, “Patients want effective treatment options for diabetes that are as minimally intrusive on their lives as possible, and the FDA welcomes the advancement of new therapeutic options that can make it easier for patients to control their condition”. Diabetes medications are covered by most health insurance plans because they are considered medically necessary. Medicare generally covers diabetes medications. The American Diabetes Association has a guide to Medicare and diabetes prescription drug benefits. For patients covered by insurance, typical out-of-pocket costs consist of a prescription drug copay ranging from USD 10 to USD 50, depending on the drug. If the patient takes multiple drugs, copays can total USD 200 a month or more.

An estimated 1.4 million Americans are diagnosed with diabetes every year, according to the American Diabetes Association. Diabetes is one of the leading causes of death in Canada and other North American countries. The growing incidence, prevalence, and progressive nature of the disease have encouraged the development of new drugs to provide additional treatment options for diabetic patients. Non-insulin treatments, used as first-line therapies for patients suffering from type 2 diabetes, currently capture more than half the sales in the anti-diabetic market.

Owing to the aforementioned factors the market is expected to grow during the forecast period.

Competitive Landscape

The combination anti-diabetes drugs market is highly consolidated with a few major manufacturers like Novo Nordisk, Merck, Sanofi, and Eli Lilly. Companies are focusing on innovations in combination diabetes drugs.

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