Global diabetes drugs industry is anticipated to reach USD 47.1 billion in the year 2017. Diabetes drugs market is further estimated to grow at a CAGR of 7.1% from 2019 to reach USD 81.30 Billion by the forecast period. Diabetes is a state with a high level of insulin in the blood. Diabetes Drugs are mainly used to treat diabetes mellitus by lowering glucose levels in the blood.
The driving factors responsible for the market growth include technological advancements, increasing acceptance rate in emerging countries, higher prevalence of obesity, and increasing consciousness regarding diabetes care. In addition, increasing aged population, growing prevalence of diabetes, unhealthy eating patterns and sedentary lifestyle is likely to drive the market growth in the forthcoming period.
However, time consuming approval process, lack of awareness and high cost of drugs are hampering the growth in the future. According to WHO (World Health Organization), on the global level diabetes occurred among adults of over 18 years had increased from about 4.7%, in 1980, to over 8.5%, in 2014. The number of death records are reported due to high blood glucose level before age of 70 years. WHO projects that diabetes is expected to be the seventh leading cause of death by 2030.
Diabetes drugs industry is categorized based on therapy, disease type, distribution channel, and geography. Based on therapy, the market could span as dipeptidyl-peptidase-4 (DPP-4) inhibitors, glucagon-like peptide-1 (GLP-1) agonist, insulin, and sodium glucose co-transporter 2 (SGLT2) inhibitors.
The market is explored based on type 2 diabetes, type 1 diabetes, impaired glucose tolerance, impaired fasting glycaemia and gestational diabetes. The type 2 diabetes segment led the market and is anticipated to maintain its dominance by 2025.
Based on distribution channel, the market segmented as retail pharmacies, hospital pharmacies, and online pharmacies. The hospital pharmacies segment led the market and is anticipated to maintain its dominance by forecast period. North America market gain higher grounds in the global market due to increasing prevalence of diabetes in this region and presence of premium healthcare system.
Leading players operating in the diabetes drugs industry include Johnson & Johnson, Abbott Laboratories, Novo Nordisk, Merck & Co., AstraZeneca, Eli Lilly and Company, Bayer AG and GlaxoSmithKline PLC.