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

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

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

The healthcare system was significantly disturbed and pressured during each phase of rapid COVID-19 infection. Several countries, notably the Thai government, have introduced home isolation or a home quarantine program to avert healthcare collapse and to ameliorate inadequate healthcare resources. Between July 2021 and October 2021, COVID-19 illness cases in Thailand increased to around 20,000-25,000 cases per day, posing difficulty in the treatment of COVID-19 infection in hospitals. Previous research revealed the viability of a COVID-19 home monitoring program employing telemedicine to reduce the gap in treatment during a healthcare worker shortage in multiple countries. These programs primarily monitored the intensity of symptoms and informed patients to seek additional treatment if necessary. During COVID-19, there was a shortage of hospital capacity, and a home isolation system was set up. Thailand’s government introduced diabetes self-management education and support (DSMES) and glycemic management via telemedicine, along with outcomes in home-isolated patients with COVID-19 infection. In AUG 2022, The National Research Council of Thailand (NRCT) introduced a breathalyzer prototype that can detect those infected with Covid-19 with 97% accuracy.

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 Segment is Having the Highest Market Share in 2021

The Oral-Anti Diabetes Drugs segment is expected to increase with a CAGR of over 5 % during the forecast period, mainly due to the demand from the Type-1 diabetes population, which was more than 0.4 million by the end of 2022.

Thailand’s government During COVID-19 provided medical supplies, including glucometers, blood glucose test strips, lancets, and urine test strips were donated or purchased using donated funds. The supplies were stocked at a central location and distributed by volunteers, utilizing same-day commercial delivery services. Disposable prefilled insulin pens, both long-acting and short-acting analogs, were chosen instead of insulin vials to reduce administration errors, particularly in insulin-naïve patients. Insulin pens were kept at a medical clinic and distributed in a temperature-controlled container by a same-day delivery service.

Insulin therapy is the most potent hypoglycaemic medication currently available for diabetes treatment; however, the potency of insulin deteriorates if it is stored under improper conditions. In Thailand, NCDs including diabetes accounts for more than 70% of all deaths. Obesity leads to a more than seven times increase in the risk of developing type 2 diabetes while being overweight increases the risk by three times

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

Increasing Diabetes population in Thailand

The World Health Organization (WHO) estimates that in 2021, around 11% of the total health expenditure in Thailand is allocated to diabetes care, which is comparable to other countries in the region. By 2030, this figure is expected to grow by 41%, effectively doubling the societal burden of diabetes. In Thailand, there are around 4.8 million people with diabetes and only 272 endocrinologists (or specialists) are available. In Thailand, three out of five people with diabetes who receive care do not achieve the recommended treatment targets.

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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