Global Diabetes Drugs Market to Witness an Upsurge in Growth by 2030, Examines DelveInsight | Key Companies in the Market – Sanofi, AstraZeneca, Pfizer, Johnson & Johnson, Novartis, Merck & Co., Novo Nordisk, Eli Lilly and Company, Biocon

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The diabetes drugs market is expected to surge mainly due to factors like the growing occurrence of lifestyle-related conditions such as diabetes and obesity, rising awareness, better patient adherence to treatment plans, the increasing emphasis on public health, and various strategic awareness campaigns led by global organizations, among other factors, expected between 2024 and 2030.

New York, USA, April 23, 2024 (GLOBE NEWSWIRE) — Global Diabetes Drugs Market to Witness an Upsurge in Growth by 2030, Examines DelveInsight | Key Companies in the Market – Sanofi, AstraZeneca, Pfizer, Johnson & Johnson, Novartis, Merck & Co., Novo Nordisk, Eli Lilly and Company, Biocon

The diabetes drugs market is expected to surge mainly due to factors like the growing occurrence of lifestyle-related conditions such as diabetes and obesity, rising awareness, better patient adherence to treatment plans, the increasing emphasis on public health, and various strategic awareness campaigns led by global organizations, among other factors, expected between 2024 and 2030.

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DelveInsight’s Diabetes Drugs Market Insights report provides the current and forecast market analysis, individual leading diabetes drugs companies’ market shares, challenges, diabetes drugs market drivers, barriers, trends, and key market diabetes drugs companies in the market.

Key Takeaways from the Diabetes Drugs Market Report

  • As per DelveInsight estimates, North America is anticipated to dominate the global diabetes drugs market during the forecast period. 
  • Notable diabetes drugs companies such as Sanofi, AstraZeneca, Pfizer, Johnson & Johnson, Novartis, Merck & Co., Novo Nordisk, Eli Lilly and Company, Biocon, Bristol Myers Squibb, Boehringer Ingelheim, Bayer AG, Teva Pharmaceuticals, Glenmark Pharmaceuticals, Cadila Pharmaceuticals, and several others, are currently operating in the diabetes drugs market.
  • In January 2024, Glenmark Pharmaceuticals Ltd., a research-led, global pharmaceutical company, launched a biosimilar of the popular anti-diabetic drug, Liraglutide, for the first time in India.
  • In October 2023, Sanofi released groundbreaking positive results from the TZIELD Phase 3 data presentation at ISPAD, highlighting its potential in slowing the progression of Stage 3 type 1 diabetes among diagnosed children and adolescents in the study
  • In February 2023, Akums and Drugs and Pharmaceutical Limited, a contract drug manufacturing company, announced the launch of the Lobeglitazone drug for the treatment of type 2 diabetes in India.
  • In May 2022, the FDA approved Mounjaro (tirzepatide) injection, a non-insulin diabetes drug, to improve blood sugar control in adults with type 2 diabetes, as an addition to diet and exercise. Mounjaro was effective at improving blood sugar and was more effective than the other diabetes therapies with which it was compared in clinical studies.

To read more about the latest highlights related to the diabetes drugs market, get a snapshot of the key highlights entailed in the Global Diabetes Drugs Market Report

Diabetes Drugs Overview

Diabetes drugs play a pivotal role in the management of this prevalent chronic condition, offering a spectrum of treatments tailored to individual needs. From metformin, a cornerstone medication known for its ability to improve insulin sensitivity and reduce glucose production in the liver, to newer classes like SGLT2 inhibitors that work by lowering blood sugar through the kidneys, the arsenal of diabetes medications continues to expand. These drugs not only aim to control blood sugar levels but also target associated risks, such as cardiovascular disease and kidney damage. As research advances, the focus shifts towards medications that not only manage symptoms but also address the underlying causes, promising a future where diabetes management is more personalized and effective than ever before.

In the world of diabetes treatment, the journey toward optimal medication often involves a delicate balance of factors. Physicians and patients alike navigate through considerations such as efficacy, potential side effects, cost, and ease of administration to tailor a regimen that suits individual needs. From the daily oral medications that help regulate glucose levels to injectables like insulin, the range of options allows for flexibility in adapting to the changing nature of diabetes. Beyond medications, the emphasis on lifestyle modifications remains paramount, often complementing drug therapy for a comprehensive approach. Through continuous research and advancements, the landscape of diabetes drugs continues to evolve, offering hope for improved outcomes and a better quality of life for millions worldwide living with this condition.

Diabetes Drugs Market Insights 

In 2023, North America led the diabetes drug market, surpassing other regions. This dominance is attributed to the region’s high diabetes prevalence stemming from sedentary lifestyles, increasing obesity rates, the introduction of new medications, and a growing focus on diabetes care. These factors are anticipated to boost the market for diabetes drugs in North America.

Studies have shown a rising adoption of Diabetes Drug applications in the United States and Canada due to their convenience and benefits. Annually, approximately 1.75 million Americans receive diabetes diagnoses, and the region also faces a significant obesity issue, a leading cause of Type 2 diabetes.

The region benefits from the presence of influential organizations like the American Diabetes Association, which actively promotes public awareness through crucial research and development efforts for diabetes management, treatment, and prevention, particularly in the US and across North America.

Furthermore, the traditional human insulin drug segment is predicted to grow in the US due to its cost-effectiveness for patients, with humulin and Novolin holding the largest market shares. This has led to a demand for generic competitors in the US traditional human insulin market, indicating an expected increase in market competition among major players in the coming years. This competition is also projected to drive the expansion of the diabetes drug market throughout the forecast period.

To know more about why North America is leading the market growth in the diabetes drugs market, get a snapshot of the Diabetes Drugs Market Outlook 

Diabetes Drugs Market Dynamics

The rising prevalence of diabetes worldwide is a key factor propelling the diabetes drug market forward. Diabetes, a chronic condition, arises when the body either struggles to effectively use the insulin it produces or when the pancreas doesn’t produce enough insulin.

According to the IDF Diabetes Atlas (2022), the number of adults living with diabetes was 537 million in 2021. Projections indicate this figure will climb to 643 million by 2030 and 783 million by 2045. Additionally, the growing global population of overweight and obese individuals, both adults and children, is expected to further boost the demand for diabetes drugs since obesity heightens the risk of diabetes.

The World Obesity Federation (2022) predicts that by 2030, approximately 1 billion people worldwide, including 1 in 5 women and 1 in 7 men, will grapple with obesity. According to the World Health Organization (2021), around 39 million children under the age of 5 were overweight or obese globally in 2020.

Furthermore, recent introductions of new diabetes drugs by major players in the market are poised to fuel growth. For instance, in January 2024, Glenmark Pharmaceuticals Ltd., a global pharmaceutical company focused on research, launched a biosimilar of the widely-used anti-diabetic drug Liraglutide in India. This product, marketed as Lirafit, received approval from the Drug Controller General of India (DCGI). Thus, the combined impact of these factors is expected to drive overall growth in the diabetes drug market during the forecast period from 2024 to 2030.

However, factors such as the availability of alternative diabetes treatment devices and the high costs associated with diabetes drug therapies are anticipated to restrain market growth within the same forecast period from 2024 to 2030.

Get a sneak peek at the diabetes drugs market dynamics @ Diabetes Drugs Market Dynamics Analysis

Report Metrics Details
Coverage Global
Study Period 2021–2030
Key Diabetes Drugs Companies Sanofi, AstraZeneca, Pfizer, Johnson & Johnson, Novartis, Merck & Co., Novo Nordisk, Eli Lilly and Company, Biocon, Bristol Myers Squibb, Boehringer Ingelheim, Bayer AG, Teva Pharmaceuticals, Glenmark Pharmaceuticals, Cadila Pharmaceuticals, among others

Diabetes Drugs Market Assessment

  • Diabetes Drugs Market Segmentation
    • Diabetes Drugs Market Segmentation By Drug Type: Insulin, Non-Insulin Drugs, Combination Drugs, and Others
    • Diabetes Drugs Market Segmentation By Route of Administration: Oral, Intravenous, and Subcutaneous
    • Diabetes Drugs Market Segmentation By Distribution Channel: Offline and Online
    • Diabetes Drugs Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Which MedTech key players in the diabetes drugs market are set to emerge as the trendsetter explore @ Diabetes Drugs Companies 

Table of Contents 

1 Report Introduction
2 Executive summary
3 Regulatory and Patent Analysis
4 Key Factors Analysis
5 Porter’s Five Forces Analysis
6 Diabetes Drugs Market Layout
7 Global Company Share Analysis – Key 3-5 Companies
8 Diabetes Drugs Market Company and Product Profiles
9 Project Approach
10 About DelveInsight

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About DelveInsight

DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance.  

CONTACT: Contact Us Shruti Thakur  [email protected]  +14699457679  https://www.delveinsight.com/medical-devices

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