Diabetes Drugs Market | Growth Opportunities | Challenges | Industry Analysis | Technological Trend | Demand Forecast by 2025
Due to insulin resistance by cells, diabetes mellitus type 2 is caused. Type 2 diabetes mellitus is the most common type of diabetes. Diabetes mellitus type 2 is treated by administering agents which increase the amount of insulin secreted by the pancreas. Patients with type 1 or type 2 diabetes have a range of symptoms, some of them are frequent urination, usually at night, excessive thirst, extreme hunger, dry skin, weakness, recurring or slow-healing infections, weight loss, blurred vision, tingling in the hands or feet, nausea, yeast infections, urinary tract infections, skin Infections, and skin disorders.
Type 2 diabetes often begins to develop well before the disease is diagnosed.
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Microvascular and macrovascular complications, for instance, retinopathy (eye disease), nephropathy (kidney disease), neuropathy (nervous system disease), and large vessel disease are caused due to poor blood sugar control. As a result of which, weight excess, high blood pressure, smoking, and high cholesterol levels get worse.
Factors Influencing Market Scenario:
According to International Diabetes Federation (IDF) as of 2015, an estimated 415 million people had diabetes globally, with 90% of the cases of type 2 diabetes, which represents 8.3% of the adult population. In 2014, the economic cost of diabetes globally was estimated to be US$ 612 billion. In 2012, in the United States, the cost of diabetes was $245 billion.
According to WHO, rising incidences of diabetes is one of the important drivers for diabetes drugs market. A sedentary lifestyle will propel the growth of the market. In addition, research & development initiatives, technological advancements, and improved healthcare facilities are the key factors fueling the growth of the market. Changing lifestyle and the adoption of fast food that has resulted in the high prevalence of obesity is expected to fuel the industry demand. However, stringent regulatory environment and time-consuming approval process are the major restraining factors that are hampering the growth of the diabetes drugs market. Due to the high cost, a large population cannot afford the treatment and is depending on generic drugs, ultimately affecting the growth of the overall market.
Depending upon the geographical analysis, the market includes major four regions such as North America, Europe, Asia Pacific (APAC), and Latin America, Middle East & Africa (LAMEA). Asia Pacific region is expected to be one of the fastest growing markets due to the adoption of fast food and unhealthy food habits. North America is also expected to dominate the market, owing to the changing lifestyle that has resulted in obesity and increasing incidents of diabetes.
The global diabetes drugs market comprises some of the key players such as Abbott Laboratories, Bayer AG, Boehringer Ingelheim GmbH, Eli Lilly and Company, Johnson & Johnson, Merck & Co., Novartis AG, Novo Nordisk A/S, Sanofi, and Takeda Pharmaceutical Company Limited.
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• In May 2018, a review of 13 research studies was analyzed. The data suggest that the drug ‘semaglutide’ helped people suffering from type 2 diabetes to have a better control over blood glucose as compared to a number of medications. Panagiotis Andreadis, MD, who is heading the research study, stated that the medication also helps patients lose their weight. Dr. Andreadis further stated, for the patients whose priority is weight loss, Semaglutide could be used as an add-on in patients inadequately controlled with oral agents, with or without insulin. In December 2017, Novo Nordisk A/S's Ozempic (semaglutide) received approval from the U.S. FDA and was launched in February. This research study was published in the month of May in the journal Diabetes, Obesity, and Metabolism.
• In May 2018, Oramed Pharmaceuticals Inc., a developer of oral drug delivery systems, announced that the company's patent for its invention for Oral Administrations of Proteins has been allowed by the United States Patent and Trademark Office. The CEO of Oramed, Nadav Kidron, stated that this patent gives protection to the company’s proprietary POD™ Technology, paving the entrance into the U.S. market, which is one of the largest markets globally.
• In May 2018, Dr. Fernanda De Felice and her research team at Queen's University have discovered a disease mechanism common to Alzheimer's disease and Type 2 Diabetes. The molecular links between Alzheimer's disease and diabetes suggest novel therapeutic strategies based on anti-diabetic agents. Dr. De Felice further added that to treat this devastating disease and preserve brain health, understanding of the pathway involved in the development of the complex symptoms of Alzheimer's disease will be the key to identifying more therapeutic targets.
Diabetes Drugs Market Segmentation
By Drug Type:
• Injectable Drugs
• Oral Drugs
o Alpha-glucosidase Inhibitors
o Bile Acid Sequestrants
o DPP-4 Inhibitors
o Meglitinides and D-Phenylalanine Derivatives
• Type 1 Diabetes
• Type 2 Diabetes
o North America
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
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