Global Antidiabetics Market 10 Year Forecast Report 2024-2034, by Product Type, by Application, by Distribution Channel and Region

News provided by

Mar 13, 2024, 13:45 ET

DUBLIN, March 13, 2024 /PRNewswire/ -- The "Global Antidiabetics Market by Product Type, by Application, by Distribution channel, and By Region" report has been added to ResearchAndMarkets.com's offering.

The global antidiabetics market size was estimated to be USD 100.01 billion in 2023 and is expected to reach USD 313.92 billion by 2034 with a CAGR of 10.96% during the forecast period 2024-2034. The rising prevalence of diabetes, advancements in drug development, technological advancements in insulin delivery, increasing awareness and education, government initiatives and policies, and increasing focus on personalized medicine will drive market growth.

One of the main factors propelling the global antidiabetics market is the rising incidence of diabetes. The rising number of people with diabetes is a result of sedentary lifestyles, urbanization, and lifestyle changes, which makes the usage of antidiabetic drugs necessary. New and improved antidiabetic drugs are introduced as a result of ongoing research and development in the field of diabetes. Market expansion is facilitated by advancements in targeted treatments, medication formulations, and delivery systems. For instance, Novo Nordisk A/S reported favorable Phase 3 trial results in October 2023 for IDegLira, a next-generation basal insulin, showing decreased risk of hypoglycemia and better blood sugar management than current choices.

By product type, the insulin segment accounted for the highest revenue-grossing segment in the global antidiabetics market in 2023 owing to the increasing prevalence of diabetes, advancements in insulin formulations and delivery systems, and a growing emphasis on personalized medicine, driving the demand for insulin-based therapies to effectively manage blood glucose levels in diverse patient populations. Additionally, the SGLT-2 inhibitors segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising adoption of these drugs due to their efficacy in lowering blood glucose levels, favorable outcomes in cardiovascular and renal health, and increasing awareness among healthcare professionals and patients about the benefits of SGLT-2 inhibitors in the management of type 2 diabetes.

By application, the type 2 diabetes segment accounted for the highest revenue-grossing segment in the global antidiabetics market in 2023 owing to the escalating prevalence of type 2 diabetes worldwide, driven by factors such as sedentary lifestyles, unhealthy dietary habits, and an aging population, necessitating a substantial demand for a diverse range of oral antidiabetic drugs, injectables, and innovative treatment modalities tailored for the specific needs of individuals with type 2 diabetes. For instance, a major development in diabetes treatment was made in October 2023 when Eli Lilly and Company announced that the FDA had approved Mounjaro (tirzepatide), a dual GIP and GLP-1 receptor agonist, for the treatment of type 2 diabetes. Additionally, the type 1 diabetes segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing focus on advanced insulin therapies, technological innovations in insulin delivery systems, and a growing understanding of the unique needs of individuals with type 1 diabetes.

By distribution channel, the retail pharmacy segment accounted for the highest revenue-grossing segment in the global antidiabetics market in 2023 owing to the widespread accessibility and convenience offered by retail pharmacies, enabling easy access for patients to procure antidiabetic medications, coupled with the expanding network of retail outlets and the growing trend of self-medication. For instance, at the American Diabetes Association (ADA) Scientific Sessions in October 2023, Merck & Co., Inc. presented results showing the long-term safety and effectiveness of Januvia (sitagliptin) in conjunction with metformin for the treatment of type 2 diabetes. Additionally, the online pharmacy segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption of digital platforms, rising consumer preference for convenient and contactless healthcare solutions, and the expanding e-commerce landscape.

The North American region is anticipated to have the highest revenue share during the forecast period owing to the well-established healthcare infrastructure, a high prevalence of diabetes, increased adoption of advanced antidiabetic therapies, and robust research and development activities.

Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing incidence of diabetes, rapid urbanization, lifestyle changes, a large and aging population, and efforts to improve healthcare infrastructure.

This comprehensive research report focuses on the global and regional market size and forecasts from 2023 to 2034.

Report Scope:

Base Year: 2023
Forecast Period: 2024-2034
Study Coverage
Market Forecast by Product Type, Application, and Distribution Channel
Market Forecast for 5 Regions and 17+ Countries
Company Profiles of the Top 10+ Major Market Players

Key Topics Covered:

1. Research Methodology

2. Introduction
2.1. Market Definition
2.2. Global Antidiabetics Market Overview

3. Executive Summary

4. Market Environment Analysis
4.1. Porter's 5 Forces Analysis
4.2. PESTEL Analysis
4.3. SWOT Analysis

5. Market Dynamics

6. COVID-19 Impact Analysis

7. Antidiabetics Market: Type Estimates & Trend Analysis
7.1. Type Segment Opportunity Analysis
7.2. Insulin
7.3. Biguanides
7.4. Sulfonylureas
7.5. DPP-4 inhibitors
7.6. SGLT-2 inhibitors

8. Antidiabetics Market: Application Estimates & Trend Analysis
8.1. Application Segment Opportunity Analysis
8.2. Type 1 diabetes
8.3. Type 2 diabetes

9. Antidiabetics Market: Distribution Channel Estimates & Trend Analysis
9.1. Distribution Channel Segment Opportunity Analysis
9.2. Hospital Pharmacy
9.3. Retail Pharmacy
9.4. Online Pharmacy

10. Regional Market Analysis
10.1. Regional Market Opportunity Analysis

11. North America Antidiabetics Market

12. Europe Global Antidiabetics Market

13. Asia Pacific Global Antidiabetics Market

14. Latin America Global Antidiabetics Market

15. MEA Global Antidiabetics Market

16. Competitor Analysis

17. Company Profiles

Novo Nordisk
Sanofi
Eli Lilly
Merck
AstraZeneca
Johnson & Johnson
Boehringer Ingelheim
Abbott Laboratories
GlaxoSmithKline
Bristol-Myers Squibb
Novartis
Pfizer
Sun Pharmaceutical
Takeda Pharmaceutical
Roche

For more information about this report visit https://www.researchandmarkets.com/r/nqv9ta

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: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

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

SOURCE Research and Markets