Market Size –
The antidiabetics market size has grown rapidly in recent years. It will grow from $68.32 billion in 2023 to $76.03 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to rising global diabetes prevalence, advancements in drug development, increased awareness and diagnosis, supportive government policies, a growing geriatric population, sedentary lifestyles, and increasing healthcare expenditure.
The antidiabetics market size is expected to see rapid growth in the next few years. It will grow to $117.04 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to the increasing prevalence of diabetes, increasing awareness and diagnosis, rising healthcare expenditure, expanding geriatric population, government initiatives and health policies. Major trends in the forecast period include growth in GLP-1 receptor agonists and SGLT2 inhibitors, biologics and biosimilar expansion, focus on preventive healthcare, emerging market growth, and technological integration.
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Scope Of Antidiabetics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Antidiabetics Market Overview
Market Drivers –
The rising incidence of lifestyle-related conditions is expected to propel the growth of antidiabetics market going forward. Lifestyle-related conditions are health issues caused or exacerbated by behaviors such as poor diet, lack of exercise, smoking, and excessive alcohol consumption. The incidence of lifestyle-related conditions is growing due to poor diet, physical inactivity, and increased stress levels. Antidiabetic medications can help manage lifestyle-related conditions like obesity and metabolic syndrome by improving insulin sensitivity and controlling blood sugar levels. For instance, in March 2022, the World Health Organization, a Switzerland-based intergovernmental organization, reported that around 1 billion people worldwide, 650 million adults, 340 million teenagers, and 39 million children, were obese. This number continues to rise. By 2025, an estimated 167 million adults and children will suffer health consequences due to being overweight or obese. Therefore, a rising incidence of lifestyle-related conditions is driving the antidiabetic market.
Market Trends –
Major companies operating in the antidiabetics market are developing advanced products, such as the anti-diabetic biosimilar, to improve glycemic control, reduce the risk of cardiovascular events, and offer more effective treatment options for individuals with diabetes. An anti-diabetic biosimilar is a biologically similar medication to an already approved reference drug used to treat diabetes, offering comparable safety, effectiveness, and quality. For instance, in January 2024, Glenmark Pharmaceuticals Limited, an India-based pharmaceutical company, launched the first biosimilar of Liraglutide, an anti-diabetic drug. The biosimilar of the Liraglutide anti-diabetic drug, launched as Lirafit, improves glycemic control in adults with type 2 diabetes mellitus. Clinical trials have shown it lowers glycemic parameters, aids in weight loss, and enhances cardiovascular safety. As a GLP-1 receptor agonist, it boosts glucose-dependent insulin secretion and reduces inappropriate glucagon secretion. It is globally approved for managing type 2 diabetes in adults.
The antidiabetics market covered in this report is segmented –
1) By Drug Class: Insulin, GLP-1 Receptor Agonists, DPP- 4 Inhibitors, SGLT2 Inhibitors, Other Drug Classes,
2) By Diabetes Type: Type 1, Type 2
3) By Patient Population: Antidiabetics For Pediatrics, Antidiabetics For Adults, Antidiabetics For Geriatrics
4) By Route Of Administration: Antidiabetics Administration Through Insulin Syringes Or Insulin Pens, Antidiabetics Administration Through Insulin Pumps, Intravenous Antidiabetics Infusion, Oral Antidiabetics Administration, Other Routes Of Antidiabetics Administration
5) By Distribution Channel: Online Pharmacies, Hospital Pharmacies, Retail Pharmacies
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Regional Insights –
North America was the largest region in the antidiabetics market in 2023. The regions covered in the antidiabetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the antidiabetics market are Pfizer Inc., Johnson & Johnson, Merck & Co. Inc., Bayer AG, Sanofi S.A., Bristol-Myers Squibb Company, AstraZeneca plc, Abbott Laboratories, Novartis AG, Takeda Pharmaceutical Company Limited, GSK plc, Eli Lilly and Company, Amgen Inc., Boehringer Ingelheim International GmbH, Gilead Sciences Inc., Novo Nordisk A/S, Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Astellas Pharma Inc., Biogen, Vertex Pharmaceuticals Incorporated, Servier Laboratories, Sun Pharmaceutical Industries Limited, Cipla Limited, Dr. Reddy’s Laboratories, Lupin Limited, Torrent Pharmaceuticals Ltd, Biocon Limited, Glenmark Pharmaceuticals Ltd.
Table of Contents
1. Executive Summary
2. Antidiabetics Market Report Structure
3. Antidiabetics Market Trends And Strategies
4. Antidiabetics Market – Macro Economic Scenario
5. Antidiabetics Market Size And Growth
…..
27. Antidiabetics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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