Diabetes Drug Market Analysis Report 2023: A Global $103.52 Billion Market by 2032 Driven by the Availability of Affordable and Effective Diabetic Drugs

DUBLIN, July 11, 2023 /PRNewswire/ -- The "Diabetes Drug Market Share, Size, Trends, Industry Analysis Report, By Drug Class, By Route of Administration, By Diabetes Type: By End Use: By Region, Segment Forecast, 2023 - 2032" report has been added to  ResearchAndMarkets.com's offering.

The global diabetes drugs market size is expected to reach USD 103.52 billion by 2032

The diabetes drug industry is expected to grow at the quickest rate over the forecast period owing to the fastest growth of the diabetic population globally and the availability of affordable and effective diabetic drugs by market players in the last few years.

Diabetes drugs are primarily used to control the blood sugar level among patients. Type 1 diabetic patients are mostly recommended to take insulin to maintain their blood sugar levels. Other different classes of drugs are also being researched and produced for type 2 diabetic patients by various market players.

The growing investments in R&D have available a wide price range of drugs in the market. For instance, Glenmark, an Indian pharmaceutical company, is the first to launch a fixed-dose combination for type 2 diabetic patients at a very affordable rate.

Further, the launch of generic insulin in the market supplements the body's natural insulin intending to achieve normal blood sugar levels in mostly type 1 diabetic patients. For instance, Novo Nordisk, a Denmark-based pharmaceutical company, introduced various innovative insulin injection pens, such as disposable pre-filled pens, smart connected pens, and durable pens with replaceable insulin cartridges, which can easily be used.

North America is anticipated to dominate the diabetes drugs market in the forecast period due to the higher prevalence of diabetes owing to an increasingly sedentary lifestyle, higher consumer awareness, and increased FDA approvals of diabetic drugs.

The inactive and unhealthy eating habits among millennials and adults have upsurged the obese and overweight population in countries such as the U.S. and Canada, dramatically increasing the risk of type 2 diabetes disorder.

Diabetes Drugs Market Report Highlights

• The covid-19 pandemic had an overall positive impact on the diabetes drugs market in the long run. Lockdown and social distancing have negatively impacted diabetic patients as patients didn't check up and test their blood sugar by physically visiting the labs. Post covid has increased consumer awareness towards proper diabetic management through regular checkups and physical exercise.
• The online pharmacy is anticipated to witness the highest growth due to faster technological adoption by patients in the post-pandemic period. Developing economies such as India have registered significant growth in ordering various drugs through online channels due to multiple benefits such as discounts and easy refunds.
• Asia pacific diabetes drugs market is projected to grow at the fastest CAGR in the forecast period. The major driving factor for the growth is the large diabetic population in countries such as China, India, and Japan.
• Increasing disposable income and rise in rapid urbanization the sugar diets and junk foods among inhabitants which causes more risk towards lifestyle disorders and diseases such as diabetes.

Scope of the Report

Diabetes Drugs Market, Drug class Outlook (Revenue - USD Billion, 2019 - 2032)

• Glycogen-like peptide-1 (GLP-1)
• Dipeptidyl-peptidase-4 (DPP-4)
•  Sodium glucose co-transporter 2 inhibitor (SGCL2)
• Insulin
• Sulfonylureas
• Glitazones
• Others

Diabetes Drugs Market, Route of Administration Outlook (Revenue - USD Billion, 2019 - 2032)

• Oral
• Intravenous
• Subcutaneous

Diabetes Drugs Market, Diabetes Type Outlook (Revenue - USD Billion, 2019- 2032)

• Type 1
• Type 2

Diabetes Drugs Market, Distribution Channel Outlook (Revenue - USD Billion, 2019- 2032)

• Retail Pharmacies
• Online Pharmacies
• Hospital Pharmacies

Diabetes Drugs Market, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Asia Pacific
• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia
• Latin America
• Argentina
• Brazil
• Mexico
• Middle East & Africa
• UAE
• Saudi Arabia
• Israel
• South Africa

Diabetes Drug Market Dynamics

Drivers and Opportunities

• Increased the diabetic population
• Rising investments in R&D for new drug

Restraints and Challenges

• High cost

Porter's Five Forces Analysis

PESTLE Analysis

Diabetes Drug Industry Trends

Value Chain Analysis

COVID-19 Impact Analysis

Competitive Landscape

• Expansion and Acquisition Analysis
• Partnerships/Collaborations/Agreements/Exhibitions

Company Profiles

• Novo Nordisk A/S
• Merck &Co.
• Novartis AG.
• Eli Lily and Company
• Johnson & Johnson
• Boehringer Ingelheim GmbH
• Sanofi
• AstraZeneca
• Pfizer
• Roche Holding AG

For more information about this report visit https://www.researchandmarkets.com/r/3xizp4

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED