Injectables Antidiabetic Drugs

Injectables Antidiabetic Drugs

The Injectables antidiabetic drugs market is expected to register a CAGR of approx. 6.1% over the period of 2023-2030. The injectable antidiabetic drug market refers to the segment of the pharmaceutical industry focused on medications administered via injection for the treatment of diabetes mellitus. These drugs are designed to help regulate blood sugar levels in individuals with diabetes by either increasing insulin production, improving insulin sensitivity, or reducing glucose production in the liver. The rising prevalence of diabetes worldwide, fueled by factors such as sedentary lifestyles, unhealthy diets, and aging populations, is a significant driver of the market. For instance, According to the World Health Organization (WHO), Approximately 422 million people across the globe have diabetes. The majority of individuals with diabetes reside in low- and middle-income countries. Moreover, Advances in drug delivery technologies have led to the development of more convenient and effective injectable antidiabetic drugs. Furthermore, obesity is a major risk factor for type 2 diabetes, and the global obesity epidemic has led to a corresponding increase in diabetes prevalence. As efforts to address obesity continue, there may be an associated increase in the use of injectable antidiabetic drugs to manage diabetes..

• Based on the Drug Type, the market has been categorized into insulin, amylin analogs, glp-1 agonists. Among them, the insulin segment is expected to grow at a higher share in the market due to The global prevalence of diabetes, both type 1 and type 2, continues to rise, driving the demand for insulin. As more people are diagnosed with diabetes, there is a growing need for insulin therapy to achieve glycemic control and prevent complications. The availability of advanced insulin delivery devices, such as insulin pens, has enhanced the ease of administration and adherence to insulin therapy. Moreover, With the progression of type 2 diabetes, many patients may eventually require insulin therapy to achieve glycemic targets.
• Based on the distribution channel, the market has been categorized into hospital pharmacies, retail pharmacies, online pharmacies. Among them, the hospital pharmacies category is to witness higher adoption of Injectable Antidiabetic Drug during the forecast period. Healthcare is becoming increasingly complex, with a growing number of patients requiring specialized care, including those with chronic conditions such as diabetes. Hospital pharmacies play a crucial role in providing medications and pharmaceutical services to support patient care within the hospital setting. Advances in medical technology have led to the development of new treatments and therapies for various conditions, including diabetes. Hospital pharmacies are equipped to handle the storage, preparation, and dispensing of these specialized medications, contributing to their growth in the distribution channel segment.
• For a better understanding of the market adoption of the Injectables antidiabetic drugs industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. The North America injectable antidiabetic drug market is expected to continue to grow in the coming years, driven by the increasing prevalence of diabetes and growing awareness of injectable antidiabetic drug among the general population, change in lifestyle. For instance, in 2020, according to CDC, Among adults aged 65 years or older, 27.2 million had prediabetes, which corresponds to 48.8% of this age group. the estimated total cost of diagnosed diabetes in 2022 was $413 billion, $307 billion in direct medical costs, $106 billion in indirect costs attributable to diabetes.
• Some of the major players operating in the market include AstraZeneca, Novartis AG, Johnson & Johnson, Merck & Co. Inc, Pfizer, Sanofi, Eli lilly, Bristol-Myers Squibb, Oramed, Astellas Pharma Inc.