Antidiabetics Market

Global Antidiabetics Market Size (2023 to 2028)

The global antidiabetics market is projected to grow from USD 77.88 billion in 2023 to USD 131.82 billion by 2028, showing a CAGR of 11.1% from 2023 to 2028.

The anti-diabetics market deals in the drugs used to cure and treat diabetes. When the blood sugar level rises in the body because of more insulin secretion from the pancreas, it encourages the development of diabetes. Blood sugar levels are then released by urination, leading to "sugar-rich urine" or diabetes. Diabetes causes many complications like high blood pressure, sweating, hypertension, and Coma in the worst cases. Antidiabetic drugs are often present in two forms, insulin injections and oral antidiabetic drugs. 

Insulin injections are used in severe cases when the diabetes is not controllable with the help of oral medications. Unfortunately, 80% to 90% of patients suffer from diabetes due to irregular and unhealthy eating habits in the present scenario. Patients who have Type I diabetes have contributed more to developing antidiabetic drugs because they need to take insulin injections daily. At the same time, a proper healthy diet and regular exercise are sufficient in controlling Type II diabetes.  

MARKET DRIVERS:

The increasing prevalence of diabetes worldwide has stimulated the potential of the antidiabetics market.

The sedentary lifestyle of people has been attributed as one of the major factors driving the growth of the global antidiabetics market because unhealthy eating habits and irregular exercise have induced many health-related problems like obesity, high and low blood pressure, and high blood sugar. As per the International Diabetes Foundation report, obesity is the primary cause of diabetes and is the biggest challenge to public health in the twenty-first century. Another significant factor driving the growth of the antidiabetics market is the entry of new players. The key developments and benefits associated with the market have attracted many international players to come up with innovative and new products.  

The growing geriatric population globally is significantly increasing the market growth as the senior population is more prone to various chronic diseases such as diabetes and the problem of obesity. Moreover, the increasing glucose intolerance among the geriatric population fuels the demand for antidiabetic drugs. With increasing age, the incidence of type II diabetes increases with the escalated risk of cardiac arrest, vascular diseases, and stroke. In addition, the growing awareness about health issues has resulted in the inclusion of diabetes testing in routine check-ups. This boosted the demand for antidiabetics. Furthermore, the growth of the antidiabetics market is also associated with growing concern about the severe impacts of coronavirus on diabetic patients.

According to the International Diabetes Foundation (IDF), obesity and diabetes share an integral relationship and are the most significant public health challenge of the 21st century. In developed countries such as the United States and European countries, there is a significant concern about obesity. As per the reports, it is estimated that the US obesity population was 41.9% in 2020, and the prevalence is expected to increase from 4.7% to 9.2% during the forecast period.

Increasing investments by the government and private organizations to develop healthcare infrastructure and research and development activities are expected to provide lucrative growth opportunities for market growth. 

MARKET RESTRAINS:

The loss of patents for various antidiabetic drugs has imposed a significant challenge on the market. The frequent rise in the number of players in the market leads to the availability of many branded antidiabetic drugs, which results in more stringent guidelines from the government and other regulatory bodies. Moreover, the simultaneous application of antidiabetic herbs and pharmaceutical medication has raised safety concerns because the constituents are not well-defined in herbal medicines. The reduced efficiency of the drugs over a period, the dependability of patients, and other health complications are added restrictions to the antidiabetics market.

REPORT COVERAGE:

The global antidiabetics market has been segmented by product, application, population, and region.

Antidiabetics Market – By Product:

• Insulin
• Oral Medication

The insulin segment held the lion's share of the global antidiabetics market in 2022. This growth is due to the increased use of insulin combined with the efficient therapeutic properties of the product to control Type I diabetes. Also, coupled with the future commercialization of products, new product launches continue to drive the growth of the insulin segment. In addition, the oral antidiabetic drug segment is expected to grow at the fastest CAGR of 10.4% during the predicted period due to the benefits such as lowering blood glucose levels and minimizing the risk of heart disease. 

Antidiabetics Market – By Application:

• Type I
• Type II

The Type II Diabetes segment is anticipated to develop with the quickest CAGR of 10.5%. This boom is due to the increasing incidence of patients who have Type II Diabetes worldwide. People above the age of forty-five are at a high risk of Type II Diabetes due to irregular and unhealthy eating habits. The growing predominance of obesity and hereditary problems with diabetes are also propelling the boom of this section. 

Antidiabetics Market – By Population:

• Pediatric
• Adult
• Geriatric

Based on the population, the geriatric population segment accounted for a significant share of the antidiabetics market in 2022. According to the World Health Organization, approximately 39.7% was due to population growth and aging among the total disease burden. The constant rise in the geriatric population has contributed to a significant diabetes burden. With advancing age, the prevalence of type 2 diabetes increases along with the escalated risk of coronary heart disease, vascular diseases, and stroke. Older diabetes patients are exposed to a high risk of physical disability. The acceptance of diabetes treatments in the elderly population will increase the demand for the antidiabetics market. 

Antidiabetics Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The North American anti-diabetes drug market had the region's most significant market share in 2022. The Sophisticated healthcare infrastructure and redemption framework planned by the government are key factors contributing to its large share. The availability of modern insulin products like long-acting and rapid-acting insulin is also boosting the growth of the antidiabetics market in the region. The increased stress, obesity, and sedentary lifestyles are the added factors increasing the demand for antidiabetic drugs. These lifestyle-induced problems are the primary cause of diabetes. The United States will likely register a significant share during the forecast period. The factors such as the growing geriatric population, technological advancements in the healthcare sectors, and high healthcare spending are boosting the market growth. The government's favorable reimbursement policies also support the development of the diabetes drug market in the region. 

The Asian countries are expected to generate higher demand over the next few years, primarily because of the local governments and healthcare organizations' initiatives to raise awareness about diabetes, medicines, and devices. The diabetic population in the region has grown at an alarming rate over the last decade. The biggest challenge for the emerging Asia-Pacific diabetes drug market is the lack of medical infrastructure and a centralized supply chain, leading to price volatility. China and India are projected to showcase a significant share in the forecast period owing to the growing geriatric population, diabetes, and awareness propelling the market growth. 

KEY MARKET PLAYERS:

Companies playing a promising role in the global antidiabetics market profiled in this report are Sanofi, Boehringer Ingelheim International GmbH, Eli Lilly and Company, Johnson & Johnson Services, Inc., Takeda Pharmaceutical Company Limited, Halozyme, Inc., Novartis AG, Bristol-Myers Squibb Company, Merck Sharp & Dohme Corp., Oramed and Pfizer Inc.

RECENT DEVELOPMENTS:

• In December 2019, Mankind Pharmaceutical made a collaborative marketing agreement with Glenmark Pharmaceuticals to market remogliflozin, an antidiabetic drug in India which led the first to expand their business across the APAC. 
• In October 2020, The Indian Pharmaceutical company Zydus Healthcare launched generic antidiabetic tablets, Dapagliflozin, across the country at highly affordable prices under the brand name 'Dapaglyn.'