The global diabetes drug market size was evaluated at USD 66 billion in 2023 and is expected to attain around USD 132.36 billion by 2034, growing at a CAGR of 6.5% from 2024 to 2034. This increase in market size is primarily driven by the rising prevalence of type 2 diabetes, which accounts for 90% of all diabetes cases. The surge in type 2 diabetes is largely attributed to the escalating rates of obesity and significant demographic shifts. Diabetes, particularly in low-and-middle-income countries, is becoming a rapidly growing health challenge and potential epidemic, further propelling the demand for diabetes medications.
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Diabetes Drug Market Overview
The diabetes drug market is experiencing rapid growth due to the chronic and metabolic nature of diabetes, which is characterized by elevated blood glucose levels leading to severe damage to the heart, blood vessels, eyes, kidneys, and nerves over time. Type 2 diabetes, the most common form, typically affects adults when the body becomes resistant to insulin or produces insufficient insulin. Over the past three decades, the prevalence of type 2 diabetes has surged across countries of all income levels, with approximately 422 million people worldwide currently affected, predominantly in low-and middle-income countries, and resulting in 1.5 million deaths annually.
The World Health Organization (WHO) is developing guidelines on the use of GLP-1 receptor agonists (GLP-1 RAs), such as semaglutides, for treating obesity in adults, which is a key component in diabetes care. GLP-1 RAs are a class of medications that lower blood sugar and aid in weight loss, significantly contributing to diabetes management. Diabetes management varies by type, with treatments ranging from diabetic meal plans and physical activity to medications, including insulin for type 1 diabetes and various medications for type 2 diabetes. This diverse and expanding treatment landscape underscores the growing demand and market potential for diabetes drugs.
Key Insights
· North America has generated market share of 21% in 2023.
· By drug class, the insulin segment is expanding at the fastest CAGR from 2024 and 2034.
· By diabetes type, the 2 types segment is poised to dominate the global market during the forecast period.
· By route of administration, the oral segment has captured revenue share of 46% in 2023.
· By distribution channel, the hospital pharmacies segment has held revenue share of 54% in 2023.
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Regional Stance
North America holds the largest share of the diabetes drugs market. The United States holds the largest market share in the North America diabetes drugs market and is poised for continued growth. Currently, more than one in three adults, approximately 98 million Americans, have prediabetes, with 81% unaware of their condition. To address this, the CDC and the Ad Council are launching new public service announcements (PSAs). The American Diabetes Association (ADA), dedicated to preventing and curing diabetes, plays a pivotal role through initiatives such as the release of the ADA’s Standards of Care.
As the nation’s leading voluntary health organization, the ADA is instrumental in combating the diabetes epidemic and supporting those living with diabetes. In Canada, Diabetes Canada is the foremost provider of diabetes education, research, resources, and services, addressing one of the most prevalent chronic diseases in the country. Approximately 3.7 million Canadians aged one year and older live with diagnosed diabetes, representing 9.4% of the population, excluding gestational diabetes. Over 6% of Canadian adults have prediabetes, increasing their risk of developing type 2 diabetes. These regional insights highlight the significant and growing demand for diabetes management and treatment solutions across North America.
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Report Highlights
By Drug Class
The insulin segment currently dominates the diabetes drug market. Human insulin, essential for controlling blood sugar levels, is primarily used for individuals with type 1 diabetes, where the body fails to produce insulin, and for those with type 2 diabetes, where blood sugar levels are inadequately controlled due to insufficient or ineffective insulin production. Classified as a hormone, human insulin substitutes the insulin normally produced by the body. It is available in various forms, including vials, prefilled disposable dosing devices, and cartridges, catering to diverse patient needs and preferences. This extensive utilization underscores the critical role of human insulin in diabetes management and its significant contribution to the market.
By Diabetes Type
Type 2 diabetes dominates the diabetes drug market. This condition arises from the body’s inability to regulate and utilize sugar effectively as fuel. While historically referred to as adult-onset diabetes, type 2 diabetes now affects both children and adults due to rising obesity rates among the younger population. Predominantly seen in older adults, the increasing incidence in children underscores the broader impact of the obesity epidemic. Type 2 diabetes is a lifelong disease that impairs the body’s proper use of insulin, necessitating continuous medical management. This widespread prevalence and the chronic nature of type 2 diabetes highlight its significant influence on the market demand for diabetes treatments.
By Route of Administration
The oral anti-diabetic drugs segment is expected to dominate the diabetes drugs market. These medications, taken by mouth, are crucial for managing blood sugar levels in individuals with type 2 diabetes and prediabetes who still produce some insulin. Various types of oral anti-diabetic drugs, including alpha-glucosidase inhibitors, biguanides, bile acid sequestrants (BASs), dopamine-2 agonists, and DPP-4 inhibitors (gliptins), offer diverse mechanisms to regulate blood glucose levels. Their widespread use and effectiveness in controlling type 2 diabetes position oral anti-diabetic drugs as a leading segment in the diabetes treatment market, highlighting their importance in non-invasive diabetes management.
By Distribution Channel
The hospital segment dominated the diabetes drugs market, underscoring the critical role of healthcare institutions in diabetes management. To enhance care quality, hospitals should prioritize diabetes education for medical and nursing staff, ensuring they can effectively manage diabetes, address patient needs, and support self-management. Regular, mandatory diabetes education programs are essential to keep medical staff’s knowledge current and aligned with patient requirements. Integrated care and diabetes technology, encompassing hardware, devices, and software for lifestyle and blood glucose management, play a pivotal role. These advancements, coupled with ongoing education and follow-up, significantly improve the health and lives of people with diabetes, highlighting the importance of hospitals as key distribution channels in the diabetes drugs market.
Market Dynamics
Driver
Rising Demand for High-Quality Diabetes Care
The increasing number of people with diabetes is placing additional demands on healthcare teams and systems. Effective management of prediabetes to achieve normal blood glucose levels or prevent progression to type 2 diabetes can mitigate future healthcare burdens, enabling better outcomes for those already living with diabetes. Diabetes is increasingly recognized as a spectrum of disorders, including type 1 diabetes, type 2 diabetes, gestational diabetes (GDM), prediabetes, neonatal diabetes, maturity-onset diabetes of the young (MODY), and latent autoimmune diabetes in adults (LADA). The overlapping etiology of these conditions contributes to the growth of the diabetes drug market, as comprehensive and diverse treatment options are required to address the various forms of the disease.
Restraint
High Costs and Financial Burdens
Diabetes imposes significant human suffering, including heightened risks of cardiovascular disease, blindness, end-stage kidney disease, and amputations. The financial burden is particularly devastating for individuals without health insurance or those with high-deductible plans, as they struggle to afford the high costs of diabetes drugs. This economic strain has profound implications for public policy and social justice. The production costs of diabetes medicines, encompassing active pharmaceutical ingredients, non-active ingredients, drug formulation, device costs, biosimilar development costs, and amortized capital costs, further constrain market growth. These financial barriers limit access to essential treatments and pose significant challenges to expanding the diabetes drug market.
Opportunity
Innovations in Diabetes Treatment
Recent advancements and innovations in diabetes treatment and management, including new medications, high-tech insulin pumps, and legislation capping insulin costs for Medicare beneficiaries, are creating significant opportunities in the diabetes drug market. Automated insulin dosing systems, which utilize algorithms to manage insulin delivery, eliminate the need for carb counting and make type 1 diabetes management more accessible and seamless. These advanced technologies, designed to deliver insulin in a more physiological manner, represent the most automated systems to date, enhancing patient care and driving market growth. These innovations are poised to transform diabetes management, offering substantial potential for market expansion.
· In December 2023, Tandem Diabetes Care announced the full U.S. launch of Tandem Source, a new diabetes management platform for customers and healthcare providers
Related Reports
· In Vitro Diagnostics Market: https://www.precedenceresearch.com/in-vitro-diagnostics-market
· Diabetes Devices Market: https://www.precedenceresearch.com/diabetes-devices-market
Recent Developments
· In March 2023, Sanofi received marketing approval for its diabetes drug Soliqua in India.
· In August 2023, Lupin acquired brands ONDERO and ONDERO MET to expand its diabetes portfolio in India.
· In March 2023, Sanofi acquired Provention Bio and integrated TZIELD (teplizumab-mzwv).
· In January 2024, Glenmark became the first to launch a biosimilar of the popular anti-diabetic drug Liraglutide in India.
Diabetes Drug Market Top Companies
· Novo Nordisk A/s
· Sanofi
· Merck & Co, Inc
· Eli Lilly and Company
· AstraZeneca
· Takeda Pharmaceuticals Company Limited
· Boehringer Ingelheim International GmbH
· Novartis AG
· Johnson & Johnson Services, Inc.
· Bayers AG
Market Segmentation
· By Drug Class
o Insulin
o DPP- 4 Inhibitors
o GLP-1 Receptor Agonists
o SGLT2 Inhibitors
· By Diabetes Type
o Type 1
o Type 2
· By Route of Administration
o Oral
o Subcutaneous
o Intravenous
· By Distribution Channel
o Online pharmacies
o Hospital Pharmacies
o Retail pharmacies
By Geography
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa (MEA)
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