Global Antidiabetics Market Report 2024: Growth Rate, Major Segments And Regions

The Antidiabetics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Antidiabetics Global Market Report 2024, 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.

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.

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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

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 report table of contents includes:

1. Executive Summary
2. Antidiabetics Market Characteristics
3. Antidiabetics Market Trends And Strategies
4. Antidiabetics Market – Macro Economic Scenario
5. Global Antidiabetics Market Size and Growth
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32. Global Antidiabetics Market Competitive Benchmarking
33. Global Antidiabetics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Antidiabetics Market
35. Antidiabetics Market Future Outlook and Potential Analysis
36. Appendix

 

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