Diabetes is a prolonged, enduring disease characterized by high blood glucose level arising when the pancreas are no longer capable to secrete insulin: a key hormone that processes glucose to produce energy. Inability to produce insulin or use it effectively leads to the raised glucose level in the blood (hyperglycemia). Over long term, high blood glucose level can damage the blood vessels in the heart, kidneys, eyes or the nervous system. The global diabetes drugs market is emerging at an impressive pace because of intensifying diabetes population leading to increasing demand for diabetic care. Apart from availability of an array of existing drugs, widespread R&D projects for new diabetes investigative methods has given industry a boost.

This research study titled ‘Diabetes Drugs Market – Growth, Future Prospects, and Competitive Analysis, 2023 – 2030’ states the detailed analysis which helps investors, developers, company executives and industry participants in making decisions related to the prospects in the global diabetes drugs market and to take strategic initiatives. This report examines and offers the foremost trends prevalent in the global diabetes drugs market and the market size and forecast.

The scope of the report comprises types of therapy and geographical distribution. The types of therapy segments are further categorized into insulin, oral hypoglycemic drugs (anti-diabetic drugs), non-insulin injectable anti-diabetes drugs, and others. In-depth analysis in terms of market size and forecast is done for each segment for the duration 2020-2030, alongside particular CAGRs for the duration 2023-2030 is also presented in the report.

A description of the market estimation of the above-mentioned segment for the duration 2020-2030 is covered in the scope of the report along with the individual market estimation for the respective countries in the regional segments.

A comprehensive description is also been presented regarding the market dynamics in the report to understand and anticipate the trends in the market. Tools for conducting a portfolio analysis by the key player are also demonstrated in the reports. This report also incorporates the company profiling of the major market players which holds the prominent position in the diabetes drugs market globally. The major players in global diabetes drugs market are AstraZeneca plc, Biocon Limited, Boston Therapeutics, Inc., Cadila Healthcare, Eli Lilly and Company, GlaxoSmithKline plc, Johnson & Johnson, Lupin Limited, Merck & Co., Inc., Novartis International AG, Pfizer, Inc., Ranbaxy Laboratories Limited, Sanofi S.A., Takeda Pharmaceutical Company Ltd., among others.

By type of therapy analysis

In 2021, insulin dominated the market due to continuous market entry of novel drug therapies, most convenient mode of treatment, and rising demand for targeted therapy/biological drugs. The growth of diabetes drugs market has been strongly supported by novel drug therapies like anti-diabetes drugs and more. One major factor that contributes to the growth of diabetes drugs is increased life expectancy. As the populations are rapidly aging, the incidence and prevalence of many chronic diseases degeneration are bound to increase correspondingly, thus driving the growth in demand for diabetes drugs. Additionally, it is not just geriatric population that is making the choice for diabetes drugs, but increasing incidence is also being noticed in adolescents, which is also supporting the growth of the market.

Diabetes medicine is a general treatment for the people who are suffering from diabetes. Various types of diabetes or anti-diabetes drugs are available, having their own area of action which help the patient to keep the condition under control. The way of delivery may differ, some injected directly into blood and some drugs taken orally. The global diabetes drugs market is emerging at impressive pace because of intensifying diabetic population growth, aging, unhealthy diets, obesity, and sedentary lifestyle resulting in increasing demand for diabetic drugs and enhancing the market size.

Geographically, the global diabetes drugs market is cumulative to Europe, North America, Asia Pacific, Middle East and Africa and Latin America.

In 2021, North America & Europe have accounted for the major share in global diabetes drugs market followed by Asia Pacific due to key driving factors such as rising prevalence of diabetes, high awareness associated with early diabetes diagnosis and treatment, and supportive reimbursement policies. The International Diabetes Federation estimates that in 2021 about 82 million people were diagnosed in Asia Pacific and about 1.1 million deaths occurred. Due to perpetual growth in incidence of diabetes, the demand for novel drug therapies are expected to increase in the near future. During forecast period 2023 – 2030, Asia Pacific was observed as the fastest growing region due to key driving factors such as rising prevalence of diabetes in developing countries, increasing awareness associated with early diabetes diagnosis, developing healthcare infrastructure, and mounting demand for novel drug therapies.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Diabetes Drugs market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Diabetes Drugs market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Diabetes Drugs market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Diabetes Drugs market?
• Which is the largest regional market for Diabetes Drugs market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Diabetes Drugs market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Diabetes Drugs market worldwide?