Antidiabetic drugs are medications designed to stabilize and manage blood glucose levels in diabetics. Diabetes is usually managed with the use of anti-diabetic medications. The most commonly used diabetes drugs include biguanides, dipeptidyl peptidase 4 (DPP-4) inhibitors, sulfonylureas, thiazolidinedione (TZD), meglitinide, sodium-glucose cotransporter (SGLT2) inhibitors, and -glucosidase inhibitors.
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Global Antidiabetic Drug Market Stats
According to the International Diabetes Federation, diabetes affected 537 million individuals (20-79 years old) in 2021, accounting for one in every ten. This figure is expected to increase to 643 million by 2030 and 783 million by 2045. This will increase the demand for anti-diabetic drugs among individuals.
According to the International Diabetes Federation, over three-quarters of diabetic people reside in low- and middle-income nations and the disease caused 6.7 million deaths in 2021, one every 5 seconds.
Recently, OMR Research has also published a report on diabetes that anticipates the market to grow at a CAGR of 4.2% during the forecast period.
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Recent Developments
The key companies in the market include Sanofi-Aventis, Eli Lilly, Oramed Pharmaceuticals, Takeda Pharmaceuticals, Boehringer Ingelheim, Merck & Co., Inc., and Novo Nordisk. Market participants are attempting to strengthen their market position through various strategies such as mergers and acquisitions, partnerships, collaborations, new product introduction and development within the existing product portfolio, and others. For instance, in January 2022, Novo Nordisk, a leading global healthcare company, announced the launch of its oral medication Semaglutide for diabetes management in India. With this, the company expanded its market reach in the Asia-Pacific region as well. Additionally, in May 2022, the US Food and Drug Administration (FDA) approved the diabetes drug Mounjaro by Eli Lilly and Co., a pharmaceutical company. Mounjaro is useful to control blood sugar in diabetic patients.
Key Drivers of the Market
According to the World Health Organization, about 400 million people worldwide have diabetes, and its treatment accounts for around 12% of total global healthcare spending. It has become a global pandemic, affecting millions of people globally. The considerable rise in the market may be attributed to factors such as the rising incidence of diabetes and the increasing number of health awareness initiatives launched by various health organizations. Currently, around 10% of all diabetes cases are type 1, with the remainder being type 2.
Increasing Geriatric Population
According to the findings from the International Diabetes Federation Diabetes Atlas in 2019, diabetes was estimated to affect 19.3% of adults aged 65-99 years (135.6 million, 95% CI: 107.6-170.6 million) in 2019. It is expected to affect 195.2 million people aged 65 to 99 by 2030, and 276.2 million by 2045. Moreover, diabetes mellitus and high blood pressure are chronic age-related disorders that frequently coexist in the same people and double the risk of cardiovascular and renal consequences. Due to this, the market is going to be focused on the geriatric population for better treatment.
Increasing Drug Manufacturing
Increasing drug manufacturing processes and investments are accelerating the market’s growth. For instance, in January 2023, AGC Biologics announced that it had been selected to manufacture Provention Bio’s long-awaited Type 1 juvenile diabetes medicine, which had been in research for more than 36 years until being approved by the FDA late last year. AGC will produce Tzield (teplizumab-mzwv) at its protein biologics facility in Seattle. Additionally, Eli Lilly announced plans to invest $450 million in a manufacturing unit in North Carolina to address rising demand for its diabetic medications Mounjaro and Trulicity.
Insulin Pumps with Advanced Technology
In the projection period, the growing use of insulin pumps among diabetic patients is likely to provide considerable potential. The industry is likely to benefit from the development of improved pumps driven by smart technologies such as artificial intelligence (AI) and machine learning (ML). For instance, in March 2022, Medtronic India, a global leader in medical technology, launched the MiniMed 780G system in India. The system is a next-generation closed-loop insulin pump device designed to treat type 1 diabetes in patients aged between 7 and 80 years. The device, which incorporates the company’s most sophisticated SmartGuard technology, automates the delivery of both basal insulin and corrective boluses every five minutes, allowing diabetics to avoid highs and lows with more ease.
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