Diabetes Drugs Market Size, Share & Industry Analysis, By Drug Class (Insulin, GLP-1 Receptor Agonists, DPP-4 Inhibitors, SGLT2 Inhibitors, and Others), By Diabetes Type (Type 1, and Type 2), By Route of Administration (Oral, Subcutaneous, and Intravenous), By Distribution Channel (Online pharmacies, Hospital Pharmacies, and Retail Pharmacies), and Regional Forecast, 2024-2032

The global diabetes drugs market size was valued at USD 79.25 billion in 2023 and is projected to grow from USD 89.39 billion in 2024 to USD 153.98 billion by 2032, exhibiting a CAGR of 7.0% during the forecast period (2024-2032). Diabetes drugs are the medications that are used to treat diabetes mellitus type 1 and type 2 by lowering the blood glucose level of the body. There are different classes of drugs involved in the treatment of diabetes, which are administered via the oral route, intravenous, or subcutaneous route. The growing prevalence of diabetes, especially type 2 diabetes, and the increasing demand for effective drug therapies for treating the disease are some factors anticipated to upsurge the market growth during the forecast period.

• According to the Diabetic Statistics report published by the Centers for Disease Control and Prevention (CDC) in 2022, more than 130.0 million people in the U.S., were suffering from diabetes or prediabetes.


• Similarly, as per data published by the American Diabetes Association (ADA), the number of Americans under age 20, which have diagnosed diabetes is estimated to be 352,000 individuals.

The rise in obesity, the growing adoption of a sedentary lifestyle, and an increase in the uptake of unhealthy diets among the population are anticipated to increase the prevalence of diabetes, which is expected to boost the global diabetes drugs market growth during the forecast period.

• For instance, according to data published by the American Heart Association in February 2021, annually around 30-53% of the new diabetes cases are associated with obesity in the U.S.

The COVID-19 pandemic substantially impacted the sales of the product globally. The country lockdown measures imposed by government authorities across the globe limited the number of patient visits to healthcare settings such as hospitals and pathology labs for disease diagnosis and treatment. However, the COVID-19 recovery in 2021 led to increased patient hospital visits and a rise in the number of diabetes diagnoses among patients, further propelling the demand for these drugs among the population. Thus, the increase in hospital visits post-pandemic and the rising focus of major players on the introduction of advanced drugs for diabetes treatment led to the growth of the market in 2021.

Diabetes Drugs Market Trends

High Adoption of Diabetes Drugs among the Patient Population to Propel the Market Growth

The awareness about diabetes and its associated complications is increasing among the population across the globe. Moreover, owing to high disease prevalence, industry players are focusing on increasing the adoption of these drugs among the diabetic population. In addition, the governments in various countries are also aiming toward the high adoption of treatment for diabetes. The government is launching various campaigns and providing funds to support the efforts.

• For instance, in December 2023, in the Varanasi district of India, the Rural Diabetes Prevention & Control Campaign was launched by the Union Minister. This campaign is aimed toward raising the awareness regarding Type 2 Diabetes Mellitus.


• Similarly, in May 2023, Eli Lilly and Company launched a consumer campaign for the introduction of its new type 2 diabetes drug, Mounjaro.

Similarly, considering the high cost of diabetes treatment, the patients are shifting toward cost-effective treatment options such as biosimilars and generic equivalents. Moreover, the interest in therapeutics has shifted toward glucose-lowering medications such as GLP-1 analogs among healthcare professionals, which are being widely prescribed for diabetic patients. Such factors further aid in the adoption of these drugs among patients suffering from diabetes.

• According to the report published in April 2023 by Providence Veterans Affairs Medical Center, the adoption of SGLT2Is (GLP-1 analogs) by prescribers is increasing over time, compared with sulfonylureas and other diabetes drugs.


• According to an article published by Komodo Health, Inc., in February 2023, more than 5.0 million prescriptions were filled in 2022 for diabetes drugs such as for Ozempic, Mounjaro, Rybelsus, or Wegovy in the U.S.

Moreover, the advancements in diabetes treatment and increased drug adherence are further increasing the adoption of diabetes drugs, further bolstering the market growth.

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Diabetes Drugs Market Growth Factors

Accessibility to the Low-priced Insulin Supported by Growing investments in R&D to Boost the Market Growth

Owing to the high cost of conventional diabetes treatment options, the patient population is looking for alternative options. This has led to an increasing launch of generic versions of several diabetes drugs such as insulin and extensively raising the demand for novel drugs for controlling the blood sugar levels in both types of diabetes. Such factors are anticipated to fuel the growth of the market during the forecast period.

• For instance, in January 2024, the U.S. FDA granted marketing approval to Lupin’s Dapagliflozin and Saxagliptin tablets for the treatment of type 2 diabetes. This product is a generic version of Qtern tablets manufactured by AstraZeneca plc.


• Similarly, in August 2022, Cadila Pharmaceuticals launched the generic versions of Sitagliptin in India, under the brand names Jankey & Sitenali, to address type 2 diabetes.

In addition, growing investments in research and development and new product launches by many key players are anticipated to boost the growth of the market during the forecast period.

• In November 2022, Novo Nordisk A/S announced the plan to invest USD 744.0 million to expand its facilities in Bagsvaerd, Denmark. The investment would add capacity in R&D for manufacturing active pharmaceutical ingredients (API), the main biologically active components of medicines, to supply its global clinical trials.

RESTRAINING FACTORS

High Cost of Diabetes Treatment May Hamper the Market Growth

The demand for effective treatment alternatives to treat diabetes is increasing globally, owing to high disease prevalence. Similarly, the adoption of therapeutics among the patient population to treat diabetes has increased, and currently, around 60 FDA drugs are available in the global market. Besides, about 100 drug candidates are being evaluated in clinical trials for diabetes control across the globe. However, even though there are several drugs approved for the treatment as well as various initiatives are being undertaken by governments along with industry players, the economic burden of diabetes treatment and the high cost of advanced diabetes drugs remain a significant challenge for market growth.

• For instance, as per data published by the American Diabetes Association in November 2023, the cost of diagnosed diabetes in the U.S. was USD 412.9 billion out of which USD 306.6 billion was direct medical costs and USD 106.3 billion was indirect costs in 2022.


• As per research data published by Yale University in July 2022, for more than 14.0% of the population who use insulin in the U.S., the insulin costs consume at least 40.0% of their available income.


• According to the data published by the Regents of the University of Michigan in June 2020, the average healthcare spending for type 1 diabetes treatment is about USD 2,500 per year.

Similarly, over-the-counter medical supplies to monitor glucose levels and administer medications further upsurge the treatment costs. The high cost of production and launch of advanced drugs across several countries is also expected to limit drug adoption among patients.

• As per Ro.Co statistics published in March 2023, the Ozempic drug for diabetes treatment can cost around USD 892.06 per month on average to an uninsured individual in the U.S.

Thus, the increasing cost of diabetes treatment and drugs among the uninsured population across several countries is expected to hamper diabetes drug adoption, further restraining the market growth

Diabetes Drugs Market Segmentation Analysis

By Drug Class Analysis

Growing Demand for Novel Drugs Proliferated the GLP-1 Receptor Agonists Segment Growth

On the basis of drug class, the market is categorized into insulin, DPP-4 inhibitors, GLP-1 receptor agonists, SGLT2 inhibitors, and others.

The GLP-1 receptor agonists segment held a dominant share in the market in 2023. The growth can be attributed to the increase in the demand for novel drugs across developing countries owing to high potential advantages such as enhanced safety and high glycemic efficacy as compared to traditional drugs. The rising R&D investments by key players for the introduction of novel drugs are further expected to propel the segment growth.

• In June 2023, Sun Pharmaceutical Industries Ltd. announced an increase in R&D investment in specialty and generics business. The planned increase in spending would primarily focus on conducting additional studies on the diabetes drug GLP-1.

On the other hand, the insulin segment is poised to grow at a substantial CAGR during the forecast period. The growth can be credited to the increasing launch of generic versions of insulin across the globe. Moreover, the extensive growing demand for novel insulin in controlling the blood sugar levels in both type 1 and type 2 diabetes is anticipated to fuel the growth of the insulin segment in the market during the forecast period.

• In September 2022, Novo Nordisk A/S announced the launch of an unbranded biologic of Tresiba (insulin degludec) injection, a long-acting basal insulin indicated to control high blood sugar in patients one year of age and older with diabetes.

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By Diabetes Type Analysis

High Prevalence of Type 2 Diabetes among the Population Augmented Segment Growth

In terms of diabetes type, the global market is segmented into type 1 and type 2.

The type 2 segment held a dominant share in the market in 2023. The higher share can be attributed to the rising prevalence of type 2 among the global population. Moreover, the rising number of clinical trials of diabetes drugs for the treatment of type 2 diabetes by the industry players is expected to propel the segment growth.

• As per statistics published by World Health Organization in 2021, an estimated 77.0 million people above the age of 18 years suffer from type 2 diabetes in India, and nearly 25.0 million suffer from prediabetes.

The type 1 segment is slated to grow at a considerable CAGR during the forecast period. The growth can be credited to the increasing diagnosis and prevalence of type 1 diabetes among children and young adults as compared to type 2 across developing countries.

• According to data revealed by ICMR in June 2022, about 95,600 children below 14 years of age suffer from type 1 diabetes in India, and nearly 15,900 new cases are reported daily in this age group.

By Route of Administration Analysis

Rising Presence of Generic Equivalents to Insulin Impelled the Subcutaneous Segment Growth

Based on route of administration, the global market is segmented into oral, subcutaneous, and intravenous.

The subcutaneous segment held a dominant market share in 2023. The segment growth can be ascribed to the increasing consumption of insulin injections subcutaneously for the treatment of type 2 diabetes globally. The increasing presence of biosimilar and generic equivalents to insulin across developing countries such as China and India is further expected to drive the market growth.

• According to the American Diabetes Association, in August 2022, about 8.4 million of the U.S. patient population used insulin to treat diabetes.

Likewise, the oral segment is anticipated to grow at a significant CAGR during the forecast period owing to the increasing emphasis of key players on the launch of oral diabetic drugs such as GLP-1 and SGLT2 inhibitors to limit the frequency of skin injections among the patients. The high demand for oral drugs among children and young adults is further expected to foster segment growth. In June 2023, the U.S. FDA approved Synjardy (empagliflozin and metformin hydrochloride) and Jardiance (empagliflozin) for the treatment of type 2 diabetes in pediatric patients. Both these drugs are administered orally.

By Distribution Channel Analysis

Rising Presence of Drugs at Affordable Costs across Retail Pharmacies Boosted Segment Growth

On the basis of distribution channel, the global market is segmented into hospital pharmacies, online pharmacies, and retail pharmacies.

The retail pharmacies segment held the highest share in the market in 2023. The highest share can be credited to the increasing presence of diabetes drugs at affordable costs across retail channels. The rising number of retail pharmacies across the globe to cater to the high demand for drugs is further boosting segment growth.

The online pharmacy segment is poised to grow at the highest CAGR during the forecast period. The segment growth can be attributed to the growing focus of pharmacies on expanding their product offerings through e-commerce sites globally.

• In August 2023, the Amazon.com, Inc., pharmacy launched a USD 35.0 automated insulin savings program with manufacturer-sponsored coupons applicable to more than 15 brands, such as Novo Nordisk, Eli Lilly, Sanofi, Dexcom, and Insulet, which produce a variety of related products such as insulin vials, pens, continuous glucose monitors and pumps.

REGIONAL INSIGHTS

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North America to Dominate Due to Growing Investments in R&D and Increasing Prevalence of Diabetes

The North America market was valued at USD 39.51 billion in 2023 and is expected to dominate during the forecast period. Growing investments in research and development activities by many government organizations and an increase in the prevalence of diabetes are some of the factors anticipated to account for a considerable share of the market in North America. Moreover, growing awareness about novel anti-diabetic drugs, new launches of anti-diabetic drugs, and favorable reimbursement policies are anticipated to boost the market growth in North America.

• In January 2023, Eli Lilly and Company announced to invest an additional USD 450.0 million in expansion of its manufacturing facility in North Carolina. The expansion includes additional parenteral filling, device assembly and packaging capacity to support an increased demand for Lilly's incretin products that treat diabetes.

Europe is the second dominating region with respect to revenue and market share. The regional growth can be attributed to the rising penetration of key players, coupled with increasing diabetes drug launches across the region.

• For instance, in September 2021, Sanofi started supplies of its next-generation basal insulin Toujeo Solostar to the European Union countries.

The Asia Pacific market growth can be attributed to the growing incidence of diabetes in the region and the increasing demand for diabetes care owing to the high disease burden is expected to be the major factor behind the region's growth at the highest CAGR during the forecast period.

• According data published by International Diabetes Federation in 2021, more than 90.0 million of the South-East Asia population between age of 20-79 years suffered from diabetes, and the number is expected to grow to 113.0 million in 2030 and 151 million by 2045.


• According to an article published by American Medical Association in April 2021, which is based on data published by IDF, more than 60.0% of people suffering from type 2 diabetes across the globe are living in Asia, primarily in China and India.

The Middle East & Africa market is poised to grow at a moderate CAGR during the forecast period owing to the rising patient population suffering from type 2 diabetes caused by several factors such as obesity and a sedentary lifestyle, creating demand for diabetes treatment.

On the other hand, the Latin America market is anticipated to grow slower during the forecast period. The unmet demand for insulin in countries of Latin America, such as Brazil, Mexico, and others, is expected to be one of the major market drivers in the region.

List of Key Companies in Diabetes Drugs Market

Novo Nordisk A/S, Eli Lilly and Company, and Sanofi Account for More than Half of the Market Share in Terms of Revenue

Novo Nordisk A/S is a leading player with in the global market. Novo Nordisk A/S is estimated to retain its global market share during the forecast period. The dominance can be ascribed to the increasing number of partnerships, which is anticipated to boost technological innovations, growing investments in research activities to develop a portfolio of superior treatment solutions, and developing strategic plans with an aim to provide cost-effective anti-diabetic drugs to low-resource countries. This company, along with Sanofi and Eli Lilly and Company, currently holds over half of the global diabetes drugs market share in terms of revenue.

• As per Novo Nordisk A/S annual report estimates in 2022, the global market share for the company in the GLP-1 diabetes market was 54.9% in 2022, up from 52.7% in 2021.

Other players operating in the global market are Novartis AG, Boehringer Ingelheim International GmbH, AstraZeneca, Merck & Co., Inc., and others. These companies are continuously engaged in key initiatives, such as strategic partnerships and extensive approvals for the product globally. Such initiatives by leading companies are anticipated to propel the global market growth by 2032.

LIST OF KEY PLAYERS PROFILED:

• Novo Nordisk A/S (Denmark)


• Sanofi (France)


• Merck & Co., Inc. (U.S.)


• Eli Lilly and Company (U.S.)


• AstraZeneca (U.K.)


• Takeda Pharmaceutical Company Limited (Japan)


• Boehringer Ingelheim International GmbH (Germany)


• Novartis AG (Switzerland)


• Johnson & Johnson Services, Inc. (U.S.)


• Bayer AG (Germany)

KEY INDUSTRY DEVELOPMENTS:

• January 2024 – Glenmark Pharmaceuticals Ltd. introduced Lirafit - a biosimilar of the anti-diabetic drug, Liraglutide, in India. The per day price of this drug is around USD 1.21 for a standard dose of 1.2 mg.


• June 2023 – Pfizer Inc. announced that the company continued the clinical development of its oral GLP-1-RA candidate for the treatment of adults having type 2 diabetes and obesity.


• March 2023 - Sanofi (India) received marketing authorization for its diabetes drug Soliqua (in a pre-filled pen) from the Central Drugs Standard Control Organization (CDSCO) in India.


• February 2023: Akums 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.


• December 2022 - Glenmark Pharmaceuticals Ltd. launched a new drug under the brand Zita-PioMet for type-2 diabetes treatment in India. The company introduced it in the first triple fixed-dose combination (FDC) Teneligliptin, with a combination of Pioglitazone and Metformin.


• October 2022 - Glenmark Pharmaceuticals Ltd. launched Lobeglitazone medicine in India for the treatment of type-2 diabetes in adults.


• May 2022 - The U.S. Food and Drug Administration approved Mounjaro (tirzepatide) injection produced by Eli Lilly and Company to improve blood sugar control in adults with type 2 diabetes as an addition to diet and exercise.

REPORT COVERAGE

The global diabetes drugs market research report provides a detailed analysis of the market. It focuses on key aspects such as an overview of the prevalence of diabetes globally, drug class, product launches, and key industry developments such as partnerships, mergers and acquisitions. Besides this, the report also offers insights into the market trends and highlights key industry dynamics. In addition to the aforementioned factors, it encompasses several factors that have contributed to the growth of the market over recent years.

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Report Scope & Segmentation