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

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

The Saudi Arabia Diabetes Drugs Market is set to witness a CAGR of more than 14% during the forecast period 2022-2027. The market is estimated to reach a value of more than USD 2.8 billion by 2027.

The COVID-19 pandemic positively impacted the Diabetes Drugs market growth in Saudi Arabia. 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. According to a study in Saudi Arabia, compliance with diabetes medication significantly increased during the lockdown, as the percentage of children who did not miss a dose of medications increased to 92.7%, compared to 70.7% before the COVID-19 lockdown.

More than one in ten people in Saudi Arabia are now living with diabetes and the prevalence of the disease will almost double by 2045, according to the report by the International Diabetes Federation (IDF). The IDF report mentioned that 4.27 million people in Saudi Arabia – which has a population of about 34.8 million have diabetes, while a further 1.86 million people have the disease but are yet to be diagnosed. This figure will increase to 5.6 million by 2030 and further to 7.5 million by 2045. Due to the early age and longer diabetes duration, the youth is at risk of developing diabetes at a younger age, which lessens their quality of life, shortens life expectancy, and increases healthcare costs to society.

Saudi Arabia is aiming to reduce the prevalence of diabetes by 10% over the next decade. Several initiatives, including taxing sugary drinks, fitness programs, and focusing on preventative care, are being taken by the government to stem this epidemic. The government’s focus on combating diabetes and the higher purchasing power of the people in the country may help the market for diabetes drugs during the forecast period.

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

The Oral Anti-Diabetic DrugsSegment held the highest market share of about 73% in 2021 and is expected to register a CAGR of about 17% with a revenue of around USD 1 billion.

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.

Diabetes is one of the largest health problems in Saudi Arabia. This country is ranked among the top 10 countries in the world with respect to the prevalence of diabetes. The diabetic population in Saudi Arabia increased from 3.83 million in 2016 to 5.95 million in 2021. This is expected to reach 9.23 million by 2027. Obesity, especially central obesity and increased visceral fat due to physical inactivity, and the consumption of high-calorie, high-fat, and high-sugar foods are the major contributing factors to diabetes. The most prominent work culture perpetuated in the country, which includes sitting for hours in one position and consuming fast food with little to no physical activity, is a significant contributor to diabetes in the working-age group.

The prevalence of diabetes is growing among all ages in Saudi Arabia, which can be attributed to the increasing obese population, along with an unhealthy diet and a sedentary lifestyle. When diabetes is undetected or inadequately treated, people with diabetes are at risk of serious and life-threatening complications, such as heart attack, stroke, kidney failure, blindness, and lower-limb amputation. These result in reduced quality of life and higher healthcare costs and lead to a greater need for access to care. The rising prevalence of diabetes and obesity, growing awareness of diabetic care, healthcare expenditure, and technological advancements are a few factors that are further driving the market.

Sulfonylureas Segment is Expected to Dominate the Saudi Arabia Diabetes Drugs Market

The sulfonylureas segment is expected to dominate the Saudi Arabia Diabetes Drugs Market and register a CAGR of more than 24% during the forecast period.

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. They function by increasing insulin secretion from pancreatic beta cells.

Saudi Government, in July 2022, announced that Saudi Arabia has seen growing demand for quality healthcare services spurred by changes including an increasing and aging population, and a growing prevalence of lifestyle diseases such as diabetes and obesity. The government and private sector are both involved to work on healthcare entities, certifications, and regulations. The government is taking steps to have 100 percent of Saudi citizens covered by insurance and is working towards ensuring affordability, access, and quality digital healthcare and primary care with cost-effectiveness.

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. 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 Saudi Arabia Diabetes Drugs Market is consolidated, with major manufacturers namely 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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