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

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

During the forecast period 2022-2027, the Russian Diabetes Drugs Market is set to witness a CAGR of more than 4.5%.

Within the first year since its inception, the COVID-19 pandemic has been responsible for premature deaths, particularly among older individuals. Russia has the ninth-highest number of confirmed cases in the world affected by COVID-19. 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.

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. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure are indications of the increasing usage of diabetic care products. According to Roscongress, Russia ranks fifth in the world in terms of the number of patients with diabetes mellitus in the age range of 20 to 79. In addition, during COVID-19, the mortality rate among patients with diabetes increased by 22%.

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 Russian Diabetes Drugs Market

The Oral Anti-Diabetic Drugs market is expected to dominate the Russian Diabetes Drugs Market with a CAGR of more than 8% and record revenue of about USD 716 million during the forecast period 2022-2027.

Russia 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.

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.

According to IDF, to reduce the diabetes epidemic in the country, the Russian government needs to fully implement a National Diabetes Plan that establishes a state budget that guarantees diabetes care to all Russian citizens. Russia is working towards improving the reimbursement system for all aspects of diabetes care, limiting out-of-pocket payments, and preventing households from incurring catastrophic expenditures. Also, implementing a national screening program to improve the early identification of disturbed carbohydrate metabolism and creating a specialized diabetes health service under the Ministry of Health of the Russian Federation.

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 Russian Diabetes Drugs Market

Glucagon-like Peptide-1 Receptor Agonist Segment is expected to dominate the Russian Diabetes Drugs Market and register the highest CAGR of more than 15.5% 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.

According to Moscow Times, more than 90 percent of diabetes expenditures are for the treatment of diabetes-related complications. Russia's Federal Targeted Program on Diabetes states that diagnosing diabetes and treating its complications earlier can result in significant savings. Various initiatives are launched to control diabetes in the country. For instance, in Moscow Urban Forum 2021, a Letter of Intent was signed between the Youth Council under the Moscow Department of Health, Moscow Urban Forum, Moscow Diabetic Association, Moscow Diabetic Association Medical Section, KB Strelka, and Novo Nordisk to implement the Cities Changing Diabetes program in Moscow. The program in Moscow is aimed at a comprehensive assessment of the features of diabetes challenges that are relevant for Moscow, and the development of an action plan to combat this disease among the most vulnerable groups of the population.

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 Russian diabetes drugs market.

Competitive Landscape

The Russian 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.

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