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

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

During the forecast period 2022-2027, the Italian Diabetes Drugs Market is set to witness a CAGR of more than 3%.

Within the first year since its inception, the COVID-19 pandemic has been responsible for premature deaths, particularly among older individuals. Italy was the first country in Europe affected by COVID-19. Italy is among the countries with the highest excess mortality. Most people who have died of COVID-19 were affected by the co-occurrence of two or more chronic conditions in the same individual. Several studies have confirmed that chronic diseases like diabetes are associated with adverse outcomes in COVID-19 patients.

People with diabetes have more chances to get into serious complications rather than normal people. The manufacturers of diabetes drugs have taken care during COVID-19 to deliver the medications to diabetes patients with the help of local governments. Novo Nordisk stated on their website that “Since the start of COVID-19, our commitment to patients, our employees and the communities where we operate has remained unchanged, we continue to supply our medicines and devices to people living with diabetes and other serious chronic diseases, safeguard the health of our employees, and take actions to support doctors and nurses as they work to defeat COVID-19.”

Diabetic drugs are medicines developed to stabilize and control blood glucose levels amongst people with diabetes. Diabetic drugs have been potential candidates for treating diabetic patients affected by SARS-CoV-2 infection during the COVID-19 pandemic. About 9.9% of the Italian population has diabetes as of 2021 as per IDF. 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 care products.

In May 2021, the World Health Assembly agreed on a Resolution on strengthening the prevention and control of diabetes. It recommends action in areas including increasing access to insulin; promoting convergence and harmonization of regulatory requirements for insulin and other medicines and health products for the treatment of diabetes; and assessing the feasibility and potential value of establishing a web-based tool to share information relevant to the transparency of markets for diabetes medicines and health products.

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

Key Market TrendsOral Anti-Diabetic Drugs are Expected to Register Highest Growth Rate in the Italian Diabetes Drugs Market

The Italian Oral Anti-Diabetic Drugs market is expected to dominate the Italian Diabetes Drugs Market with a CAGR of more than 3% and record revenue of about USD 784 million during the forecast period 2022-2027.

Italy had 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.

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.

The Italian National Healthcare Service (NHS) is ensuring universal coverage for all citizens. People living with diabetes have access, with no out-of-pocket expenditure, to all the medicines, devices, and medical services they need. Overall, Italy has a well-developed system of diabetes care, with numerous diabetes centers throughout the country and treatment free at the point of delivery. The Italian health system is highly decentralized, with most administrative and organizational powers held by the Regions. The National Diabetes Plan defines priorities and provides guidelines to improve the quality of diabetes care, with a patient-centered focus.

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

Glucagon-like Peptide-1 Receptor Agonist Segment is Expected to Dominate the Italian Diabetes Drugs Market in terms of revenue

Glucagon-like Peptide-1 Receptor Agonist Segment is expected to dominate the Italian Diabetes Drugs Market in terms of revenue and register a CAGR of more than 2.8% during the forecast period.

Glucagon-like peptide-1 receptor agonists (GLP-1RAs) are a class of medications used for the treatment of type 2 diabetes and some drugs are also approved for obesity. One of the benefits of this class of drugs over older insulin secretagogues, such as sulfonylureas or meglitinides, is that they have a lower risk of causing hypoglycemia. Besides being important glucose-lowering agents, GLP-1RAs have significant anti-inflammatory and pulmonary protective effects and an advantageous impact on gut microbes’ composition. Therefore, GLP-1RAs have been potential candidates for treating patients affected by COVID-19 infection, with or even without type 2 diabetes, as well as excellent antidiabetic (glucose-lowering) agents during COVID-19 pandemic times.

Italian law regulates the clinical care of people with diabetes and creates a framework involving medical organizations, prevention programs, personnel training, and legal protection. The National Health Program is structured in essential levels of assistance that can be defined differently in the various regions. The National Health Program is structured in LEAs (essential levels of assistance). LEAs define all the medical assistance modalities offered by the INHS offers to citizens, with or without partial contributions based on a patient's income.

Diabetes is a significant health problem and one of the astounding challenges for healthcare systems all over Italy. 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. The roll-out of many new products, increasing international research collaborations in technology advancement, and increasing awareness about diabetes among the people are some of the market opportunities for the players in the Italian diabetes drugs market.

Competitive Landscape

The Italian Diabetes Drugs Market is consolidated, with major manufacturers namely Eli Lilly, Sanofi, Novo Nordisk, and AstraZeneca holding a presence in the region. 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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