Diabetes Drugs Market Reached USD 66.15 Billion in 2022; Increasing Incidence of Diabetes to Escalate the Market Growth

The global diabetes drugs market size stood at USD 66.15 billion in 2022. The market value is slated to rise from USD 79.25 billion in 2023 to USD 134.08 billion by 2030 at a CAGR of 7.8% during 2023-2030. Fortune Business Insights™ presents this information in its report, titled “Diabetes Drugs Market Size, Share & COVID-19 Impact 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, 2023-2030”

Various drug classes are administered through intravenous, oral, or subcutaneous routes for diabetes treatment. The market expansion can be credited to the growing demand for cost-effective diabetes drugs, such as generic and biosimilar equivalents among the population due to the steep price of conventional drugs.

Reduction in the Number of Routine Hospital Visits Hindered the Market Growth

The COVID-19 pandemic led to a fall in the number of patient visits to healthcare facilities such as hospitals and pathology labs for the treatment and diagnosis of the disease attributed to lockdowns implemented by the government authorities. In addition, there was a negative impact on patients’ hospital visits and regular healthcare checkups other than those looking for COVID-19 treatment due to government initiatives for the prevention of COVID-19 transmission among the global population. Thus, these factors caused a negative impact on the market growth.

Sanofi Acquired Provention Bio Inc. to Expand its Product Portfolio

In April 2023, Sanofi completed the acquisition of Provention Bio Inc., which helped the company add TZIELD, the disease-modifying treatment for the delay of Stage 3 type 1 diabetes (T1D), to its diabetes portfolio. The acquisition is set to drive the market growth by enhancing the product portfolio of the company.

Market Value to Grow Owing to Surging Occurrence of Diabetes

The diabetes drugs market growth is driven by an increase in the cases of diabetes. This factor can be attributed to a surge in obesity and the growing adoption of unhealthy diets among the population

Despite such growth opportunities, the prohibitive cost of diabetes treatment may impede the market growth.

Prominent Market Players Deploy Product Innovations to Outshine their Competition

The major companies are deploying different strategies such as partnerships, mergers and acquisitions, joint ventures, and others to retain their industry standing. Product innovation strategies are also being deployed by prominent companies to outshine the competition.

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)

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/diabetes-drugs-market-100570

Key Industry Development

February 2023: Akums Drugs and Pharmaceutical Limited unveiled ‘Lobeglitazone’ drug for treating type 2 diabetes in India.

Further Report Findings

• North America diabetes drugs market is poised to hold the largest share during the forecast period. The cases of diabetes are increasing in the region, which is accelerating the market growth.


• Europe market for diabetes drugs is poised to witness the second dominating position during the forecast period. The rising drug launches for diabetes are driving the regional growth.


• Based on drug class, this market is divided into insulin, DPP-4 inhibitors, SGLT2 inhibitors, GLP-1 receptor agonists, and others. The GLP-1 receptor agonists segment held the largest market share in 2022. The high potential benefits offered by novel drugs, such as high glycemic efficacy and improved safety as compared to conventional drugs, have increased their demand in developing economies. This factor is bolstering the segment growth.


• With respect to route of administration, the market is categorized into subcutaneous, oral, and intravenous. The subcutaneous segment witnessed a dominating position in the market in 2022. The surging uptake of insulin injections subcutaneously for type 2 diabetes treatment is proliferating the segment growth.

Table of Segmentation