Diabetes Drug Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

Diabetes Drug Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

  • Timetric
  • Ongoing
  • Pharmaceutical

Report Description

Diabetes affects over 400 million people globally, with China and India among countries with the highest number of diabetics. Diabetes is one of the most prevalent diseases of 21st century, and it is forecasted that by 2040, nearly 650 million around the globe will have diabetes. While lifestyle changes, such as moderate exercise and altering dietary intake can help manage diabetes, insulin regulation through injection can be a necessity in a majority of cases. Considering the pace at which people are being diagnosed with diabetes, the demand is fast outstripping the supply, resulting into longer waiting times to visit an endocrinologist and unavailability of certain drugs. 

While a number of factors often act in combination to alter hormone levels in the body, increasing stress levels and sedentary lifestyle have largely contributed to making diabetes a global epidemic. People in cities are usually associated with white collar jobs, which involve sitting at one place for prolonged hours. Also, rapid urbanization, coupled with rising dependence on junk food that are usually high in carbohydrates and fats is a major factor responsible for increasing diabetes cases worldwide.

In addition to lifestyle, there are other factors that can increase the risk of developing diabetes. These factors include family history and presence of autoimmune disease. While these factors are usually linked to Type 1 diabetes, genetics also play a key role in increasing the risk of developing Type 2 diabetes. Other factors, such as age, weight, and race also play a role in whether a person develops diabetes or not.

Global Diabetes Drug Market Dynamics

The global diabetes drug treatment market is forecasted to increase at a staggering pace during the forecast period 2016-2024 owing to the growing number of diabetics. Asia Pacific is a highly lucrative market for diabetes drugs owing to the number of people who have this ailment. In addition to the high number of diabetics in China and India, the region also has a large number of pre-diabetic population – glucose levels are dangerously close to a diabetes diagnosis. China alone has nearly 500 million pre-diabetic cases, along with over 100 million people who have diabetes. India, with nearly 70 million diabetes patients, is another market where demand is forecasted to witness robust increase during the forecast period 2016-2024.

Global demand for antidiabetics drugs is also anticipated to be influenced by favorable government policies. Governments in many countries are taking steps to subsidize diabetes drugs so that economically weaker sections of the society have access to quality healthcare. Technological innovation in the development of drugs is also expected to provide an impetus to the growth of the market during the forecast period. Availability of rapid acting and long acting insulin analogs is emerging as an effective way of managing both Type 1 and Type 2 diabetes.

Insulin vaccines remain the foremost diabetes management option for diabetes, and it is anticipated that during the forecast period 2016-2024, this product segment will ramp up bulk of revenues of the global diabetes drug market. Demand for insulin vaccines will remain high in Asia Pacific, whereas North America and Western Europe will continue to remain lucrative owing to increasing awareness on diabetes diagnosis and management.

Global Diabetes Drug MarketKey Players

Leading companies in the diabetes drug market include Eli Lilly, Novartis, Boehringer Ingelheim, Merck & Co., Novo Nordisk, Sanofi, AstraZeneca, Takeda, Bayer, and Pfizer.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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