NORTH AMERICA SULFONYLUREAS MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

NORTH AMERICA SULFONYLUREAS MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2022 - 2027)

The North America Sulfonylureas Market is set to witness a CAGR of more than 1.9% during the forecast period 2022-2027. The market is estimated to reach a value of more than USD 3.2 billion by 2027.

The COVID-19 pandemic positively impacted the North America Sulfonylureas 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 anti-diabetic drugs market. 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.

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. In North America, till April 2022, the United States was having the highest COVID cases around 82 million, the country also registered the highest death rate. Sulfonylurea is an oral anti-diabetic drug used to treat type 2 diabetes. People with type 2 diabetes have chronically high blood sugar levels and sulfonylureas make the body free up more insulin.

The North American region had witnessed an alarming increase in the prevalence of diabetes, in recent years. In developed countries, such as the United States and Canada, 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 for maintaining nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates by monitoring their blood glucose levels.

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

Key Market TrendsRising diabetes prevalence

The diabetes population in the North American region is expected to rise by more than 1% during the forecast period.

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”.

Sulfonylureas are insulin secretagogues as they work by causing the body to secrete insulin. Sulfonylureas bind to a channel of proteins in the pancreas (ATP-sensitive potassium channel) that leads to an increase in the amount of insulin produced by pancreatic beta cells. Sulfonylurea compounds are the second preferred drug to treat Type II Diabetes, they are the most used agents due to their lower cost and as a mono-dosing. These compounds according to their discovery are 1st, 2nd, 3rd generations and are available for use as Chlorpropamide, Glimepiride, Glipizide, Glyburide, Tolazamide, and Tolbutamide.

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.

Owing to the rising rate of obesity, growing genetic factors for type-2 diabetes, the increasing prevalence, and the aforementioned factors it is likely that the market will continue to grow.

The United States is Expected to Dominate the North America Sulfonylureas Market

United States holds the highest market share in the North America Sulfonylureas Market and is also expected to register a CAGR of around 1.97% in the forecast period.

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. Oral antidiabetic agents work in various ways to reduce blood sugar levels in people with type 2 diabetes; some stimulate insulin secretion by the pancreas, and others improve the responsiveness of cells to insulin or prevent glucose production by the liver. Others slow the absorption of glucose after meals.

According to The American Diabetes Association's Standards of Medical Care in Diabetes new drugs that have been specifically shown to increase CV risk in patients with known CV disease (several SGLT-2 inhibitors and GLP-1 receptor agonists) are preferred add-on agents for such patients. But for lower-risk patients in whom hypoglycemia is likely to not to be an issue, sulfonylureas are used as add-ons to metformin (especially when the cost is a concern). In addition to using health insurance to help cover the costs of prescription drugs, many pharmaceutical companies also offer deals on the cost of prescription drugs themselves. The ADA also helps with costs for insulin and diabetes medication.

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

Competitive Landscape

The North America Sulfonylureas market is fragmented, with manufacturers like Pfizer, Sanofi, Mylan, and Merck having a global market presence and the market is highly competitive due to generic drugs manufacturers' presence.

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