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Diabetes Therapeutics Industry to See Robust Expansion, Valued at $252.95 Billion by 2029
Diabetes Therapeutics
What Is the Projected CAGR for the Diabetes Therapeutics Market from 2024 to 2025?
The market size for diabetes treatments has seen a swift expansion in the past years. It is predicted to increase from $153.67 billion in 2024 to $170.06 billion in 2025, with a compound annual growth rate (CAGR) of 10.7%. The significant growth during the historic period is due to the initial spike in diabetes cases, extensive utilization of oral hypoglycemic agents, prompt adoption of injectable insulin therapies, emphasis on self-management education, and the introduction of biosimilar insulins into the market.
What are the Expected Market Size and CAGR for Diabetes Therapeutics by 2029?
The market for diabetes therapeutics is projected to experience swift expansion in the near future. It is anticipated to reach a value of $252.95 billion by 2029, boasting a compound annual growth rate (CAGR) of 10.4%. This predicted growth during the forecast period can be attributed to a rise in digital literacy, an increased usage of non-insulin injectable medicines, the proliferation of digital health platforms and the demand for personalized and combination treatments, as well as an improved healthcare infrastructure and better accessibility to diabetes care. Key trends expected to emerge within the forecast period encompass automated insulin delivery systems, the use of artificial intelligence (AI) in diabetes care, interoperability of devices, digital health applications, and the remote monitoring of patients.
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Which Factors Are Driving the Global Diabetes Therapeutics Market Expansion?
The growing rate of obesity is anticipated to fuel the expansion of the diabetes therapeutics market. Excessive accumulation of fat that jeopardizes health is what obesity refers to, and it's a significant risk factor for type 2 diabetes. The heightened incidence of obesity can be attributed to the intake of high-calorie diets and the rise in the number of individuals consuming processed and fast foods rich in sugar and fat, coupled with reduced physical activity, resulting in excessive weight gain. Diabetes therapeutics aid in obesogenic control by enhancing blood sugar checks and facilitating weight reduction with the assistance of medications like GLP-1 receptor agonists. These medications diminish appetite and decelerate digestion, bolstering metabolic health in overweight individuals. For example, in May 2024, a report by the Office for Health Improvement and Disparities, a government department in the UK, disclosed that about 64% of the adult population aged 18 and above in 2022 to 2023, were deemed either overweight or obese, marking a rise from the preceding year's figure of 63.8%. Consequently, the escalating incidence of obesity is propelling the progress of the diabetes therapeutics market.
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Which Segment Currently Holds the Largest Share of the Diabetes Therapeutics Market?
The diabetes therapeutics market covered in this report is segmented -
1) By Drug: Oral Anti-Diabetic Drugs, Insulin, Non-Insulin Injectable Drug, Combination Drug
2) By Type: Diabetes 1, Diabetes 2
3) By Route Of Administration: Oral, Subcutaneous, Intravenous
4) By Distribution Channel: Online Pharmacies, Hospital Pharmacies, Retail Pharmacies
5) By Application: Preventive, Treatment Or Care
Subsegments:
1) By Oral Anti-Diabetic Drugs: Biguanides, Sulfonylureas, DPP-4 Inhibitors, SGLT-2 Inhibitors, Thiazolidinediones, Meglitinides, Alpha-Glucosidase Inhibitors
2) By Insulin: Rapid-Acting Insulin, Short-Acting Insulin, Intermediate-Acting Insulin, Long-Acting Insulin, Premixed Insulin
3) By Non-Insulin Injectable Drug: GLP-1 Receptor Agonists, Amylin Analogs
4) By Combination Drug: Oral Combination Therapies, Oral and Injectable Combination Therapies
Which Major Trends Are Shaping the Future of the Diabetes Therapeutics Industry?
Key players in the diabetes therapeutics market, such as Better Therapeutics Inc., are directing their efforts towards creating innovative solutions like cognitive behavioral therapy (CBT) to advance personalized diabetes effect management and enhance glycemic regulation in individuals with type 2 diabetes. Cognitive behavioral therapy (CBT) is an evidence-based psychological approach that assists people in recognizing and modifying detrimental cognitive patterns and behaviors. For example, in October 2023, the American digital therapeutics firm, Better Therapeutics Inc., introduced AspyreRx, a digital diabetes therapeutic app. AspyreRx, granted authorization by the FDA for treating type 2 diabetes, offers customized cognitive behavioral therapy (CBT) for individuals aged 18 and above, to facilitate behavioral shifts beneficial for diabetes management. Previously termed as BT-001, AspyreRx showed significant long-term reductions in A1c in comparison to routine care, along with progress in blood pressure, weight, mood, and life quality in a controlled randomized trial.
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Which Key Players Dominate the Diabetes Therapeutics Industry Globally?
Major companies operating in the diabetes therapeutics market are Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche Ltd, Merck & Co Inc., Novartis AG, Sanofi S.A., AstraZeneca PLC, Abbott Laboratories, Medtronic plc, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Novo Nordisk A/S, Boehringer Ingelheim International GmbH, Biocon Biologics Limited, MannKind Corporation, Tandem Diabetes Care Inc., Lexicon Pharmaceuticals Inc., Better Therapeutics Inc., Adocia S.A., Oramed Pharmaceuticals Inc.
What Are the Fastest-Growing Regions in the Diabetes Therapeutics Market?
North America was the largest region in the diabetes therapeutics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diabetes therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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