According to the latest report published by Acute Market Reports “Diabetes Drugs Market - Growth, Future Prospects and Competitive Analysis, 2021-2029,” the global diabetes drugs market was valued at US$ 49.26 Bn in 2020.
Browse the full report Diabetes Drugs Market - Growth, Future Prospects and Competitive Analysis, 2021–2029 at https://www.acutemarketreports.com/report/diabetes-drugs-market
Market Insights
Diabetes mellitus, often referred as diabetes is one of the largest global health extremities of the 21st century. It is a serious prolonged disease that arises either when pancreas does not secrete sufficient insulin (a hormone that regulates glucose, or blood sugar), or when the body cannot efficiently utilize the insulin it secretes. According to the International Diabetes Federation, approximately 415 million adults currently have diabetes, and by 2040 this pool will rise to 642 million. Due to population growth, unhealthy diets, obesity, aging and sedentary lifestyle, there may be an increase in number of cases in emerging countries. The primary driving force of the global diabetes drugs market is the growing prevalence of diabetes, both the number of cases and prevalence have been progressively increasing over the past few decades. Trend in the growth rate of the population of older persons also reveals the powerful influence on diabetes drugs market.
The market is mainly expected to be driven by large patient pool suffering from diabetes, more R&D in diabetes diagnosis and treatment, minimally or non-invasive products, and improving diagnosis and treatment rates. Moreover, it is observed that growing middle class population, changing demographic profiles, increase in number of consumers with medical insurance, expanding economy, and increasing per capita GDP are also expected to provide massive opportunities for diabetes drugs manufacturers all over the world and especially in Asia Pacific (APAC) region. The global diabetes drugs market is categorized into the insulin, oral hypoglycemic drugs (anti-diabetes drugs), non-insulin injectable anti-diabetes drugs and others. All drugs are delivered orally except exenatide, insulin, liraglutide, and paramlintide.
Geographically, the global diabetes drugs market is studied for Asia Pacific, Europe, North America, Latin America and Middle East and Africa. In terms of revenue share North America lead the global market and it is anticipated that the region will retain its supremacy during the forecast period. However, the dominance of North America will be prominently challenged by Asia Pacific market due to increase in geriatric population and rising prevalence of diabetes in developing countries like China and India. The global diabetes drugs market is driven primarily by the expanding diabetic population around the world. The Asia Pacific will occupy the more market share in following years. Furthermore, countries such as China also fast growing India and Southeast Asia region will open additional opportunities for market penetration to key companies already having a grip in developed regions.
