Press Release   -

Diabetes Drugs Market to Reach USD 177.74 Billion by 2032

Vantage Market Research releases its latest comprehensive report on the ‘Diabetes Drugs Market’ with a forecast period of 2025-2034. In 2023, the global diabetes drugs market size was USD 78.60 billion, and is calculated at USD 84.65 billion in 2024. The market is projected to reach USD 177.74 billion in 2034, and register a revenue CAGR of 7.7% over the forecast period (2025-2034). 

Market Overview:

Global diabetes drugs market revenue has been increasing significantly, with rising prevalence of Type 1 and Type 2 diabetes among a steadily expanding diabetic patient pool driving demand for various drugs to treat and manage the disease. Advancements in drug formulations and rising awareness about diabetes management, ongoing development of innovative therapies such as GLP-1 receptor agonists and SGLT-2 inhibitors, and increasing emphasis on personalized medicine and digital health technologies, including Continuous Glucose Monitoring (CGM) and telehealth services are also factors supporting growth of the global diabetes drugs market. Government initiatives promoting early diagnosis and preventive measures are also contributing to rising awareness and focus on diabetes management. 

Diabetes drugs play a critical role in managing blood sugar levels for patients with type 1 and type 2 diabetes. These medications include insulin, GLP-1 receptor agonists, SGLT-2 inhibitors, DPP-4 inhibitors, and metformin, each targeting different pathways to control glucose levels. Insulin remains essential for type 1 diabetes management, while newer classes, such as GLP-1 receptor agonists, offer significant benefits for type 2 diabetes by promoting weight loss and reducing cardiovascular risks. Recent advancements in drug delivery systems, such as insulin pumps and continuous glucose monitoring systems, have enhanced patient convenience and treatment effectiveness. Also, novel oral formulations and extended-release injections improve compliance by reducing dosing frequency.

Integration of digital health tools, such as mobile apps that sync with CGMs for real-time monitoring and personalized treatment adjustments is a trend having significant impact on the treatment scenario in the market. Ongoing research into novel biomaterials and encapsulation technologies promises further improvements in drug stability and efficacy. Rising interest in biosimilars is also having positive impacts on treatment of diabetes, and offers potential of cost-effective alternatives to traditional insulin therapies. 

Technological advancements in diabetes treatments such as artificial pancreas system, automated Continuous Glucose Monitoring (CGM) and insulin pump systems capable of automatically adjusting insulin delivery based on real-time glucose levels, and introduction of devices such as Medtronic’s MiniMed 780G and Tandem’s Control-IQ have been game-changers in improving glucose control and reducing hypoglycemia risk. Technological advancements are also continuing in smart insulin pens, oral GLP-1 receptor agonists, wearable tech and CGMs. Emergence of non-invasive glucose monitoring solutions using electromagnetic signals or light sensors to measure glucose levels is also expected to have a major impact on market growth. 

Moreover, footfalls to seek healthcare services and treatment for diabetes in developing economies is becoming increasingly routine and cost-effective. More individuals with type 2 diabetes are approaching healthcare providers to seek treatments and management and this is driving a surge in demand for essential insulin therapies and advanced diabetes drugs. The preventive healthcare trend is gaining traction across the globe, and as a result, an increasing number of individuals seek early diagnosis and preventive treatment for various diseases. Government initiatives and awareness campaigns in this regard are also supporting these trends.

Digital health technologies are also playing key roles in adoption of new and more effective drugs and delivery systems for diabetes treatment and management. Continuous glucose monitoring (CGM) systems and mobile health apps are being integrated and serving to enhance patient adherence and management, thus creating greater demand for complementary diabetes therapies. As more patients and healthcare providers adopt these technologies, the use of advanced diabetes drugs is expected to expand and support growth of the global diabetes drugs market to a major extent over the forecast period.

Some Key Takeaways:

• North America leads among the regional diabetes drugs markets, driven primarily by factors such as high prevalence of diabetes, advanced healthcare infrastructure, and easy availability of innovative therapies. 
• Asia Pacific diabetes drugs markets is expected to register fastest revenue growth rate, driven by major contribution from China and India.
• Europe diabetes drugs markets revenue growth is supported majorly by revenue contribution from Germany and the UK due to well-established healthcare systems and robust focus on early diagnosis and preventive care.
• In the Latin America diabetes drugs markets, Brazil and Mexico lead in terms of revenue contribution, due to rising prevalence of diabetes and improving access to modern treatments. 
• In the Middle East and Africa, Saudi Arabia and South Africa are key revenue contributors, where rising healthcare infrastructure and government efforts to manage diabetes are supporting market growth. 
• Insulin segment among the drug class segments is expected to account for largest revenue share in the global diabetes drugs market. 
• Type 2 diabetes segment is expected to continue to account for largest revenue share due to the sheer volume of patients with this type globally.
• Oral segment is expected to account for largest revenue share among the route of administration segments over the forecast period.
• Retail pharmacies segment among the distribution segments is expected to lead in terms of revenue share over the forecast period.
• The competitive landscape in the global diabetes drugs market is highly dynamic, with major pharmaceutical companies deploying various strategies and approaches to maintain an edge while expanding consumer base.
• Major companies such as Novo Nordisk, Sanofi, Eli Lilly, and AstraZeneca hold leading positions with broad portfolios of diabetes treatments.   

Company List:

• Novo Nordisk
• Sanofi
• Bristol Myers Squibb
• Eli Lilly and Company
• AstraZeneca
• Merck & Co.
• Johnson & Johnson
• Pfizer
• Novartis
• Boehringer Ingelheim
• AbbVie
• Teva Pharmaceuticals
• Glenmark Pharmaceuticals
• Lupin Pharmaceuticals
• Mylan N.V. (now part of Viatris)

Recent Developments:

• August 1, 2024: Sanofi confirmed that it will be spending USD 1.4 Billion on a new insulin production facility at its BioCampus in Frankfurt Höchst, Germany. The French drugmaker will be setting up the new plant at its existing site in Frankfurt, where it produces insulin brand Lantus. With this investment, Sanofi will replace its current insulin production plant with the construction of a 36,000-square-metre facility, and the projects is proposed to be completed by 2029. The objective of this endeavor is to secure the long-term supply of insulin for diabetic patients and ‘strengthen European security of supply’, and also strengthen the company’s commitment to be one of the world’s largest insulin manufacturers.

• June 12, 2024: AstraZeneca was granted approval for its FARXIGA (dapagliflozin) by the US Food and Drug Administration (FDA). The drug is designed to improve glycemic control in pediatric patients with type-2 diabetes (T2D) aged 10 years and older. FDA approval was based on positive results from the pediatric T2NOW Phase III trial, and FARXIGA was previously approved in the US in adults with T2D as an adjunct to diet and exercise to improve glycemic control. FARXIGA is a first-in-class, oral, once-daily sodium-glucose cotransporter 2 (SGLT2) inhibitor, and had earlier been approved in 126 countries, including the EU. 

• May 17, 2024: Eli Lilly reported positive outcomes from Phase III QWINT-2 and QWINT-4 clinical trials of insulin efsitora alfa (efsitora) in adults with type 2 diabetes. The once-weekly insulin efsitora alfa demonstrated during trials achievement of a non-inferior A1C reduction versus daily basal insulins, which are commonly used worldwide. The QWINT-2 trial targeted insulin-naïve patients while QWINT-4 included individuals requiring multiple daily insulin injections. QWINT-2 compared the efficacy and safety of efsitora to once-daily insulin degludec over 52 weeks. The trial also aimed to evaluate the performance of efsitora in patients both using and not using GLP-1 receptor agonists.

Diabetes Drugs Market  Segmentation:

By Diabetes Type:

• Type 1 Diabetes
• Type 2 Diabetes
• Gestational Diabetes

By Product:

• Self-Monitoring Blood Glucose Devices
• Continuous Glucose Monitoring Systems
• Flash Glucose Monitoring Systems
• Smartphone Apps
• Wearables

By End-Use:

• Hospitals
• Clinics
• Home Care Settings
• Diagnostic Centers

By Distribution Channel:

• Retail Sales
• Institutional Sales

Regional Segmentation: 

North America

•       United States

•       Canada

•       Mexico

Europe

•       Germany

•       United Kingdom

•       France

•       Italy

•       Spain

•       Rest of Europe

Asia Pacific

•       China

•       Japan

•       India

•       Rest of Asia Pacific

Latin America

•       Brazil

•       Argentina

•       Rest of Latin America 

Middle East & Africa

•       Saudi Arabia

•       South Africa

•       United Arab Emirates

•       Israel

•       Rest of MEA

About Vantage Market Research:

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