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

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

The Spain Diabetes Care Drugs Market is expected to register a CAGR greater than 4.5% forecast period, 2022-2027.

Spain has According to WHO, 102,258,825 vaccination doses have been delivered as of June 25, 2022. Regardless of past diabetes history, entrance hyperglycemia is a significant predictor of all-cause mortality in COVID-19 patients who are not severely ill. Spain was one of the countries most hit by the COVID-19 epidemic in 2020. To contain the outbreak due to a rise in cases, a thorough national lockdown was enacted from 14 March 2020 to 21 June 2020. On October 25, the government declared a state of emergency in response to the resumption of cases following a nearly four-month period in which certain restrictive restrictions had been eased. This included partial lockdown measures with mobility restrictions, which would last until May 9, 2021. The COVID-19 pandemic in Spain has pushed the government to implement novel legislation and restrictions in an attempt to halt the virus's spread. Lockdown has been shown to be an effective approach for reducing the risk of infection. As a result of the aforementioned reasons, the expansion of the studied market in Spain is predicted.

Insulin Drugs are important components of type 1 diabetes management (T1D). Insulin drugs are examples of such drugs. These devices have been associated with improved glucose control and reduced hypoglycemia.

In terms of medicines, the insulin category commands a sizable market share. Over 100 million people worldwide use insulin, including all persons with Type 1 diabetes and 10% to 25% of people with Type 2 diabetes. Insulin production is extremely sophisticated, and there are only a few insulin manufacturers on the market. As a result, there is fierce rivalry among these producers, who are continually striving to satisfy the demands of patients by providing the highest-quality insulin.

Key Market TrendsOral-Anti Diabetes Drugs is Having the Highest Market Share in 2021

The Oral-Anti Diabetes Drugs segment is expected to increase with a CAGR of over 3.7% during the forecast period, mainly due to the demand from the Type-1 diabetes population, which was more than 4.2 million by the end of 2022.

Type 1 diabetes (T1D) patients must maintain good lifestyle conditions, which are influenced by a person's personality qualities, social interactions, socioeconomic situations, and environmental living variables. Continuous glucose monitoring (CGM) combined with multiple daily injections (MDI) has been found to reduce non-severe and severe hypoglycemia in persons with T1D who are prone to this side event. Patients with T1D who are at high risk of hypoglycemia can employ standalone continuous glucose monitoring to regulate their blood sugar levels even in the terrible living conditions imposed by the COVID-19 pandemic crisis's draconian lockdown. The lockdown period was associated with a slight improvement in glucometric indicators, particularly those related to glucose exposure, which has made initiatives to lighten the load.

Although enhanced glycemic management has been recognised for decades to lower the frequency of microvascular problems, empirical information addressing macrovascular consequences and mortality has been absent until recently. Some diabetic medicines have even raised concerns about their cardiovascular safety. Furthermore, the findings of trials comparing rigorous control (HbA1c6.5%) to standard treatment in patients with DM2 and a high cardiovascular risk have called into doubt the safety of the former method, as well as glucose-lowering medication in general in DM2.

Although enhanced glycemic management has been recognized for decades to lower the frequency of microvascular problems, empirical information addressing macrovascular consequences and mortality has been absent until recently. Some diabetic medicines have even raised concerns about their cardiovascular safety. Furthermore, the findings of trials comparing rigorous control to standard treatment in patients with DM2 and a high cardiovascular risk have called into doubt the safety of the former method, as well as glucose-lowering medication in general in DM2.

Through the Spain government’s encouragement, the usage of Management Devices increased over the forecast period.

The rising prevalence of diabetes in Spain is boosting the country's diabetes device market.

Over the projection period, the population of people with type 1 diabetes in Spain increased at a rate of more than 3%. In 2021, there will be around 0.35 million persons living with type 1 diabetes. Diabetes is thought to affect up to 13.8% of persons in Spain, with around 6% having undiagnosed diabetes. Similar incidence rates have been seen in Spain's five-million-person Valencian Community. In this field, primary care physicians follow most diabetes patients and work closely with endocrinologists to address more severe cases. Numerous studies have found that people with diabetes are more likely to have severe COVID-19 episodes, have poorer outcomes, and have a higher mortality rate. The SED expects the fatality rate to increase since the mortality risk for the diabetic population in Spain is anticipated to be approximately 7.3%, compared to 0.9%-3% for the non-diabetic population.

Thus, owing to the above factors it is expected to drive the market growth over the forecast period.

Competitive Landscape

The diabetes drugs market is moderately fragmented, with few significant and generic players. The insulin drugs and Sglt-2 drugs market are dominated by a few major players, like Novo-Nordisk, Sanofi, AstraZeneca, and Bristol Myers Squibb. The market for oral drugs, like Sulfonylureas and Meglitinides, comprises more generic players. The intensity of competition among the players is high, as each player is striving to develop new drugs and offer them at competitive pricing. Furthermore, to increase their market shares, players are tapping into new markets, especially emerging economies where the demand is very high compared to the supply.

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