Non-Insulin Therapies for Diabetes Market to Reach USD 58.6 Billion by 2034, Driven by Innovative Drug Mechanisms and Rising Global Awareness| States TMR

News provided by

Aug 01, 2024, 10:16 ET

The global non-insulin therapies for diabetes market is slated to grow on an exponential note with a sizable increase in incidence of type 2 diabetes followed by governments and non-government agencies collaborating to devise better measures to cure it, with non-insulin therapies being the epicentre.

WILMINGTON, Del., Aug. 1, 2024 /PRNewswire/ -- The global non-insulin therapies for diabetes market is forecast to advance at a CAGR of 5.8% from 2024 to 2034. As per TMR's estimates, the market is slated to attain a US$ 58.6 billion valuations by the end of the aforementioned forecast period. As of 2023, the landscape was valued at US$ 31.8 billion.

Non-insulin therapies are generally preferred by healthcare personnel in patients suffering from type 2 diabetes, in which body either fails to produce enough insulin or is incapable of using the insulin that it produces. Certain non-insulin agents facilitate increase of insulin release from the pancreatic cells (sulfonylureas), whereas some of them increase glucose uptake peripherally and reduce hepatic glucose output (Biguanides).

There are agents slowing down digestion of starch in the small intestine (alpha glucosidase inhibitors). Certain medications facilitate reduction of post-meal sugar by blocking some enzymes (Incretin mimetics). The last decade has seen a drastic rise in launching and approvals of non-insulin therapies for diabetes. Various drugs under the category of SGL2 inhibitors such as Empagliflozin, Canagliflozin, and Dapagliflozin were launched after 2013.

Request for sample PDF copy of report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=86328

Type 2 diabetes occurs in adults when body turns out to be resistant to insulin or does not produce insulin sufficient for the body. In other words, type 2 diabetes happens due to improper regulation of body sugar as fuel. As per the World Health Organization, 422 million people worldwide are living with diabetes, with 1.5 million succumbing to it. Need to combat type 2 diabetes through non-insulin therapies is thus driving the non-insulin therapies for diabetes market.

Key Takeaways from the Market Study

A valuation of US$ 33.6 billion is anticipated for the non-insulin therapies for diabetes market in 2024.
From 2024 to 2034, the market for non-insulin therapies for diabetes is slated to expand 1.7x.
By drug class, demand for SGLT2 inhibitors is anticipated to flourish throughout the forecast period, attributed to their minimal side effects.
Intramuscular administration of non-insulin therapies for diabetes to acquire greater popularity, amid the need for enhanced effectiveness.

Key Drivers and Trends

Non-insulin-based drugs for diabetes work toward the direction of lessening blood glucose level and keeping up for ideal glycemic control. For instance, certain operators increment insulin discharge from the pancreatic cells (Sulfonylureas), certain specialists increment the glucose take-up and decrease yield of hepatic glucose (Biguanides).
Some operators curtail assimilation of starch in the small digestive tract (alpha glucosidase inhibitors), and some prescriptions diminish post-supper sugar by obstruction of some chemicals.
The World Health Organization states that diabetes is amongst the top 3 causes of fatalities amongst the non-communicable diseases across the globe. Governments are collaborating with various research institutes, hospitals, and non-government agencies to create awareness regarding type 2 diabetes and curative measures regarding the same.

Non-Insulin Therapies for Diabetes Market Report Scope:

Report Coverage	Details
Forecast Period	2024-2034
Base Year	2020-2022
Size in 2023	US$ 31.8 Bn
Forecast (Value) in 2034	US$ 58.6 Bn
Growth Rate (CAGR)	5.8 %
No. of Pages	142 Pages
Segments covered	By Drug Class, By Route of Administration, By Distribution Channel, By Region

Unlock Growth Potential in Your Industry! Download PDF Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=86328

Regional Profile

North America dominated the non-insulin injection landscape in 2023 and the scenario is expected to persist during the forecast period. This is attributed to rise in incidence of type 2 diabetes in the U.S. followed by sizable spending on healthcare.
As per the Centers for Disease Control and Prevention, over 38 million Americans suffer from diabetes, with around 90-95% contracting type 2 diabetes.
Asia Pacific is another promising investment hub for non-insulin therapy providers. Asia Pacific's non-insulin therapies for diabetes market growth is ascribed to growing awareness about the importance of non-insulin treatments for type 2 diabetes.
As per the National Institutes of Health, 23-30% of the youth over here suffers from type 2 diabetes and the percentage is expected to rise during the forecast period.

Competitive Landscape

From organizing clinical trials to seeking regulatory approval, the non-insulin therapies for diabetes landscape is experiencing noteworthy developments. Companies are pooling in a substantial amount of resources to fund trials and research and development projects. Some key providers of non-insulin therapies for diabetes include:

GSK plc
Eli Lilly and Company
Sumitomo Pharma
Intarcia Therapeutics
Servier Laboratories
Pfizer Inc.
Merck & Co. Inc.
Dong-A Pharmaceutical Co. Ltd.
Luye Pharma Group
Eurofarma Laboratories SA

Key Market Developments

In April 2024, GSK Plc announced that the U.S. Food and Drug Administration has approved its Tazneum^TM(albiglutide) product for injection and subcutaneous use for a once-a-week treatment for type 2 diabetes. Albigludite is a glucagon-like peptide-1 receptor agonist (GLP-1) for treating the condition.
In June 2023, Pfizer Inc. provided update on GLP-1-RA clinical development program for the adults suffering from obesity and type 2 diabetes mellitus, stating that it is continuing with advancement of the first full agonist oral candidate danudlipron toward late-state development.

Key Segments Covered

Drug Class

Biguanides
Sulfonylureas
Thiazolidinediones
Alpha-Glucosidase Inhibitors
DPP-4 Inhibitors
GLP-1 Analogs
Sodium-glucose co-transporter-2 (SGLT2) Inhibitors

Route of Administration

Oral
Intramuscular

End User

Hospital Pharmacy
Retail Pharmacy
Online Pharmacy

Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=86328&ltype=S

More Trending Reports by Transparency Market Research –

Consumer Genomics Market - The global consumer genomics market was estimated to have acquired US$ 2.4 billion in 2021. It is anticipated to register a 22.3% CAGR from 2022 to 2032 and by 2032, the market is likely to gain US$ 21.2 billion.
Acute Migraine Treatment Market - The global market for acute migraine treatment was estimated to be worth a market valuation of around US$ 2.1 billion in 2021. The market is anticipated to advance with a booming 15.1% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 7.9 billion.
Ceftriaxone Market - The global ceftriaxone market is projected to flourish at a CAGR of 2.9% from 2022 to 2031. A valuation of US$ 2.2 billion is anticipated for the market in 2031. As of 2023, the market for ceftriaxone is expected to close at US$ 1.79 billion.
Fusion Inhibitors Market - The fusion inhibitors market attained US$ 295.3 million in 2021. The market is likely to gain US$ 7.2 billion by 2031 securing a CAGR of 14.2% between 2022 and 2031.

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: [email protected]
Follow Us: LinkedIn| Twitter| Blog | YouTube