MIDDLE EAST & AFRICA SODIUM-DEPENDENT GLUCOSE CO-TRANSPORTER 2 (SGLT 2) INHIBITORS MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

MIDDLE EAST & AFRICA SODIUM-DEPENDENT GLUCOSE CO-TRANSPORTER 2 (SGLT 2) INHIBITORS MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

The Middle-East and Africa sodium-dependent glucose co-transporter 2 (SGLT 2) inhibitors market is expected to witness tremendous growth during the forecast period (2022 – 2027), with a CAGR of greater than 12%.

The COVID-19 pandemic positively impacted the Asia-Pacific Sodium-Dependent Glucose Cotransporter 2 market. People with diabetes have a weak immune system so, with COVID-19, the immune system gets weaker very fast. 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. NovoNordisk 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.”

The Market is increasing mainly due to the drugs Jardiance and Farxiga/Forxiga. Jardiance is a once-daily oral medication that is used to control blood glucose levels in people suffering from type-2 diabetes. Patients prefer this drug, as it has a lesser risk of cardiovascular diseases when compared to other SGLT 2 class of drugs. The number of diabetic patients in Middle-East and Africa is increasing immensely over the past few years due to factors, including the increasing geriatric population in the region and the increase in the overweight and obese population, owing to unhealthy diets and physical inactivity. As diabetes can potentially increase the risk of cardiovascular diseases, it needs to be managed well by seeking suitable treatments at regular intervals of time.

Key Market TrendsIncreasing Diabetic Population is Supporting the SGLT 2 Inhibitors Market to Grow in the Middle-East and Africa Region

In 2021, the IDF MENA Region will have 73 million individuals (20-79) with diabetes. This number is expected to rise to 95 million by 2030. Impaired Glucose Tolerance affects 48 million individuals in the IDF MENA Region, putting them at a higher risk of acquiring type 2 diabetes. Diabetes will kill 796,000 people in the IDF MENA Region in 2021. In 2021, USD 33 billion will be spent on diabetes healthcare.

The Middle East and African region had witnessed an alarming increase in the prevalence of diabetes, in recent years, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. 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 region. People with diabetes may need to take antidiabetic drugs for their whole lives to control their blood glucose levels and avoid hypoglycemia and hyperglycemia. These 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.

Owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.

Saudi Arabia Holds the Highest Market Share in the Middle-East and Africa Region

Saudi Arabia held more than 30% of the market share in the Middle East and Africa Region in the year 2021. Diabetes patients infected with COVID-19 may have high blood glucose levels, irregular glucose variability, and diabetic complications. Diabetes prevalence in adults with COVID-19 produced a substantial increase in COVID-19 severity and mortality in people with type 1 (T1DM) or type 2 diabetes mellitus (T2DM), particularly in connection with poor glycemic control. While new-onset hyperglycemia and diabetes (both T1DM and T2DM) have become more recognized in the setting of COVID-19 and have been linked to worse outcomes.

Saudi Arabia hopes to lower the disease's prevalence by 10% over the next decade. The government is launching a number of programmes to combat the expanding disease, including a levy on sugary beverages, exercise activities, and an emphasis on preventative treatment. The government's focus on controlling diabetes, as well as the country's increasing buying power, may benefit the market for diabetes treatments, such as insulin drugs, throughout the projection period.

Competitive Landscape

The SGLT 2 inhibitors market is highly consolidated, with a few significant manufacturers having a global market presence. The joint ventures that occurred between players in the recent past have helped the companies to strengthen their market presence. For example, Eli Lilly and Boehringer Ingelheim manufacture Jardiance together, which is a popular SGLT 2 class drug.

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