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

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

The Egypt Diabetes Drugs Market is set to witness a CAGR of more than 4% during the forecast period 2022-2027. The market is estimated to reach a value of more than USD 730 million by 2027.

The COVID-19 pandemic positively impacted the Diabetes Drugs market growth in Egypt. Patients with diabetes, infected with COVID-19 may experience elevated blood glucose, abnormal glucose variability, and diabetic complications. The prevalence of diabetes in people with COVID-19 caused a significant increase in severity and mortality of COVID-19 in people with either type 1 (T1DM) or type 2 diabetes mellitus (T2DM), especially in association with poor glycemic control. While new-onset hyperglycemia and new-onset diabetes (both T1DM and T2DM) have been increasingly recognized in the context of COVID-19 and have been associated with worse outcomes. To avoid aggravation, a patient's blood glucose should be monitored and managed regularly.

Diabetic drugs are medicines developed to stabilize and control blood glucose levels amongst people with diabetes. Diabetic drugs are commonly used to manage diabetes. Diabetic drugs have been potential candidates for treating diabetic patients affected by SARS-CoV-2 infection during the COVID-19 pandemic.

Egypt is the ninth country in terms of Diabetes prevalence worldwide. Currently, as per IDF, about 18.4% of the adult population in Egypt has diabetes. More than 11% of the Egyptian population suffers from diagnosed Type-2 diabetes according to Egypt Youth Association for Health Development. 73 million adults (20-79) are living with diabetes in the IDF MENA Region in 2021. This figure is estimated to increase to 95 million by 2030. Diabetes is associated with many health complications. Patients with diabetes require many corrections throughout the day to maintain nominal blood glucose levels, such as administering additional insulin or ingesting additional carbohydrates by monitoring their blood glucose levels. Diabetes poses an emerging healthcare burden across the country and is one of the leading causes of premature death, morbidity, and loss of economic growth.

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

Key Market TrendsThe Oral Anti-Diabetic Drugs Segment Held the Highest Market Share in the Egypt Diabetes Drugs Market in 2021

The Oral Anti-Diabetic Drugs Segment held the highest market share of about 77% in 2021 and is expected to register a CAGR of about 4.5% with a revenue of around USD 569 million.

Oral Anti-Diabetic 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. Antidiabetic 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.

In July 2022, Zydus Lifesciences announced that it has received final approval to market Empagliflozin and Metformin Hydrochloride tablets in multiple strengths. Empagliflozin and Metformin Hydrochloride tablets are used with proper diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus. They are also used to lower the risk of cardiovascular death in patients with type 2 diabetes mellitus and established cardiovascular disease.

COVID-19 had a detrimental effect on glucose management and caused tension and anxiety among Egyptian Diabetes patients due to COVID-19. An increase in the frequency of newly diagnosed cases was identified during the first and the second COVID-19 waves compared with the pre-COVID-19 period. The patients presented with more severe Diabetes ketoacidosis, probably due to a more delayed presentation. The frequency of hypokalemia development was also significantly higher, and the severity of Diabetes ketoacidosis was associated with longer ICU admission. The major risk observed among the Egypt population is unhealthy diet, sedentary lifestyle habits, and family history of diabetes. Most diabetic patients in Egypt use diabetes drugs to control blood glucose levels and their fluctuations. Thus, because of the high diabetes population, limited supply during COVID-19 and technological adaptation, the market is growing in Egypt.

Metformin is Expected to Dominate the Egypt Diabetes Drugs Market in terms of Revenue

Metformin is expected to register a CAGR of around 4% in the forecast period with a revenue of about USD 152 million.

Biguanides are a class of medications used to treat type 2 diabetes. They work by reducing the production of glucose that occurs during digestion. Metformin is the only biguanide currently available in most countries for treating diabetes. Glucophage (metformin) and Glucophage XR (metformin extended release) are well-known brand names for these drugs. Others include Fortamet, Glumetza, and Riomet. Metformin is also available in combination with several other types of diabetes medications, such as sulfonylureas.

As Type 2 diabetes is associated with both poorer clinical outcomes during the COVID-19 pandemic and an increased risk of death in such hospitalized patients, the role of glucose control has been emphasized to improve the prognosis. Metformin is the first-line choice for the management of hyperglycemia in T2DM. Besides being an important glucose-lowering agent, metformin also has significant anti-inflammatory. Therefore, metformin has been a potential candidate for treating patients affected by COVID-19 infection, with type 2 diabetes, as well as an excellent antidiabetic (glucose-lowering) agent during COVID-19 pandemic times.

The WHO Global Diabetes Compact focuses on reducing obesity and emphasizes improving the access to affordable health services and medicines for early diagnosis, and treatment of diabetes. In Egypt, the social level plays an important role in patients’ access to health care as the number of health care centers, hospitals, and pharmacies is very low in rural areas compared to big cities and urban areas. The financial level is a major determinant of people’s access to health care as the salaries of most of the employees in Egypt are not enough to afford their monthly diabetes supplies. For students and school children with type 1 diabetes, the National Health Insurance System covers insulin, and the student pays nothing for NPH, mixed and short-acting insulins, and only 60% of the price of other types of insulin which are usually not available in the pharmacies of the National Health Insurance System. However, the government is working in the direction of improving the access of patients through various initiatives. The Egyptian Government Launched the “100 million Seha” initiative, which seeks to screen Egyptians for Non-Communicable Diseases (NCDs) like diabetes. Various healthcare companies announced their collaboration with the Egypt Ministry of Health to promote the initiative. Such initiatives are expected to create awareness among the people regarding the monitoring and control of diabetes, thereby enhancing the market prospects in the years to come.

Competitive Landscape

The Egypt Diabetes Drugs Market is consolidated, with major manufacturers namely Eli Lilly, Sanofi, Novo Nordisk, and AstraZeneca. A major share of the market is held by manufacturers that are concomitant with strategy-based M&A operations and are constantly entering the market to generate new revenue streams and boost existing ones. These measures taken by the market players will ensure a competitive marketplace, therefore, forcing the companies to experiment with more new technologies.

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