Antidiabetics Market Analysis - Forecast(2021 - 2026)

Antidiabetics Market Overview 

Antidiabetics Market size is valued at $ 61.5Bn by 2019 and is anticipated to grow at a CAGR of 4.6% during the forecast period 2020-2025. The Antidiabetics Market growth rate is attributed to increase as diabetes mellitus is rapidly prevalent owing to the burgeoning scale of the diabetic population, systematic diabetes therapies have now become the subject of research, with diabetes impacting middle-aged communities and adolescents throughout all income classes worldwide. Diabetes is a chronic metabolic disease in which the body is either unable to produce insulin (type 1) or unable to use the insulin (type 2) generated. Diabetes is a type of metabolic disease in which the person has high blood glucose (blood sugar), owing to inadequate insulin production, or cells of the body that do not respond to insulin or both properly. Patients with elevated sugar levels experience various symptoms such as increased thirst (polydipsia), weight loss, increased appetite (polyphagia), and frequent urination (polyuria) with a sweet smell. If untreated, diabetes causes multiple life-threatening problems, both acute and chronic. Diabetes can occur in any person, regardless of age or gender. Overweight and obese individuals are more susceptible to diabetes, and those with poor diets and less physical activity are. Diabetes can lead to several serious effects such as blindness, amputations, kidney failure and higher death risk. According to the International Diabetes Federation (IDF), the prevalence of diabetes in 2019 was 463 million, and is projected to exceed 578 million by 2030. Diabetes is one of the most significant health problems affecting about half a billion people worldwide and has reached an alarming level. Type 2 diabetes is the bulk of the responsibility, accounting for around 90 per cent of total diabetes.

Antidiabetics are widely used with the help of antidiabetic agent to treat diabetes. It helps a diabetic person regulate their blood glucose (sugar) level. It contains primarily insulin, and hypoglycemic oral agents. There are various classes of anti-diabetic drugs and their selection depends on the essence of the person's diabetes, age and situation; as well as some other factors. Hence, there is a need for effective treatment with low side effects is set to result into increasing R&D spending by pharmaceutical firms for drug development. Thus, escalating demand and adoption of antidiabetic drugs in developing as well as developed nations fuel the market growth. The total number of diabetes-related deaths accounted for 4.2 million in 2019, according to IDF's latest statistics. Moreover, diabetes and hypertension are responsible for over 80 per cent of last-stage renal diseases. Increasing the risk of other health conditions including chronic kidney disease and diabetes-related cardiovascular diseases is set to result in demand for antidiabetic drugs.

Report Coverage

Key Takeaways

By Product Type - Segment Analysis

By Geography - Segment Analysis

North America dominated the Antidiabetics Market with a share of 32.6% in 2019. The application of Antidiabetics has grown rapidly over the last few years owing to the sophisticated healthcare facilities in this region as well as high market penetration of modern insulin products such as long-acting, rapid-acting insulin analogues and DPP-4 drugs such as Januvia, Onglyza, and Nesina, and high healthcare expenditure, patient recognition, advanced healthcare infrastructure, and reimbursement mechanisms are the major contributing factors to its large share. According to a report published by the American Diabetes Association, approximately 34.2 million Americans were living with diabetes in 2018 and about 88 million people had prediabetes in the region.

There are initiatives, such as better healthcare infrastructure, high expenditure on healthcare, favorable reimbursement policies, and penetration of long acting and rapid acting insulin analogs in countries of this region. Also, several established drug manufacturers have high penetration in the U.S. antidiabetics industry. Furthermore, increasing need for diabetes management among COVID-19 patients suffering from comorbidities, are anticipated to propel the Antidiabetics Market during the forecast period 2020-2025.

Drivers – Antidiabetics Market

Growing investment in drug development to manage diabetes is set to spur industry expansion

Challenges – Antidiabetics Market

Drug patent expiry and poor reimbursement policies

Antidiabetics Industry Outlook

Acquisitions/Product Launches