Diabetes Therapeutics Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Diabetes Therapeutics Market covers analysis by Product (Injectables, Oral-Antidiabetic Drugs, and Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPRE00003748
  • Category : Pharmaceuticals
  • Status : Upcoming
  • No. of Pages : 150
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The diabetes therapeutics market was valued US$ 58.46 billion in 2021 and it is estimated to grow at a CAGR of 6.8% from 2022 to 2031, says The Insight partners

The global diabetes therapeutic industry players are experiencing higher demand for diabetes drugs post-pandemic. Increase in the prevalence of diabetes, rise in sedentary lifestyles, and increase in the incidence of other chronic diseases such as hypertension are driving the global diabetes therapeutics market. At the same time, surge in awareness among the population about self-management of diabetes has supplemented the market growth. Furthermore, the development of affordable and effective diabetes therapeutics such as oral hypoglycemic agents and several government initiatives to provide diabetes care facilities are expected to create lucrative opportunities in the market.

North America dominates the global diabetes therapeutics market, owing to the high prevalence of diabetes in the region because of the sedentary lifestyle. The market in the US is expected to grow significantly during the forecast period, owing to a high prevalence of obesity and a rise in awareness regarding diabetes care in the country. North America remained the largest market for diabetes therapeutics, primarily due to an increase in FDA approvals for various drugs and injections in the US. For instance, in January 2020, Novo Nordisk announced that the US Food and Drug Administration (FDA) approved Fiasp (insulin aspart injection) 100 u/mL for use as a new mealtime insulin option for children with diabetes.

Leading business players in the global diabetes therapeutics market include AstraZeneca, Boehringer Ingelheim International GmbH, Eli Lilly, GlaxoSmithKline Plc, Merck Sharp and Dohme Corp, Novartis AG, Novo Nordisk A/S, Sanofi, Takeda Pharmaceutical Company Limited, and Pfizer Inc. Market players are adopting various inorganic growth strategies to increase market share and achieve a competitive advantage.

Some of the key developments are as follows:

  • In 2019, Mankind Pharmaceuticals signed a collaborative marketing agreement with Glenmark Pharmaceuticals to market remoglifozin, an antidiabetic drug, in India. This has allowed both firms to expand their business in Asia Pacific.
  • In 2018, Cipla collaborated with Novartis and Johnson & Johnson to market their antidiabetic drugs. This collaboration has led to business expansion of the firm, thereby strengthening its market position.

MARKET DYNAMICS

Factor such as high demand of diabetes treatment products from the Type-1 diabetes population is driving the market. For instance, according to the International Diabetes Federation, diabetes patients spent US$ 966 billion in 2021, of which a major chunk was spent by Type-1 diabetes patients on insulin drugs. Few Type-2 diabetes patients also depend on insulin. Although only 10% of the diabetes population is Type-1, their insulin intake is higher in them. The demand for insulin is driven by an increase in awareness about the benefits of insulin for diabetes patients, especially in emerging economies. Moreover, rapid development in insulin delivery systems, drug and analog development by major companies, and the rise in geriatric and obese population are fueling the growth of the global diabetes therapeutics market.

MARKET SCOPE

The "Global Diabetes Therapeutics Market Analysis to 2028" is a specialized and in-depth study of the Diabetes Therapeutics Market with a special focus on the global market trend analysis. The report aims to provide an overview of diabetes therapeutics industry with detailed market segmentation by products. The global diabetes therapeutics industry is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the diabetes therapeutics market.

Strategic Insights

MARKET SEGMENTATION

The global diabetes therapeutics market is segmented based on product. In terms of product, the market is segmented into injectables, oral-antidiabetic drugs, and others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides overview and forecast of the global diabetes therapeutics market based on various segments. It also provides market size and forecast estimates from 2020 to 2028 with respect to five major regions—North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA). Each region’s diabetes therapeutics market is later subsegmented into respective countries and segments. The report covers analysis and forecast of 18 countries globally, along with current trends and opportunities prevailing in all regions.

From the regional perspective, North America dominated the diabetes therapeutics market with ~41% market share in 2021. The dominance can be attributed to the rising prevalence of diabetes, sedentary lifestyle, and well-established healthcare infrastructure in the province. The key diabetes therapeutic product manufacturers in the region include AstraZeneca, Boehringer Ingelheim International GmbH, Eli Lilly, GlaxoSmithKline Plc, Merck Sharp and Dohme Corp, Novartis AG, Novo Nordisk A/S, Sanofi, Takeda Pharmaceutical Company Limited, and Pfizer Inc. These suppliers witness constant demand from hospitals and clinics and individuals. 

The report analyzes factors affecting diabetes therapeutics market from both the demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive Porter's five forces analysis highlighting the factors affecting the diabetes therapeutics market in all the global regions.

IMPACT OF COVID-19 PANDEMIC 

The COVID-19 pandemic significantly impacted the global diabetes therapeutics market. Diabetes and uncontrolled hyperglycemia are risk factors for poor outcomes in patients with COVID-19, including an increased risk of severe illness or death. People with diabetes have a weaker immune system, the COVID-19 complication aggravates the condition, and the immune system gets weaker very fast. People with diabetes are more likely to get into serious complications than normal people. 

Diabetes Therapeutics Market Report Analysis

Diabetes Therapeutics Market

  • CAGR (2023 - 2031)
    6.80%
  • Market Size 2023
    US$ 66.68 Billion
  • Market Size 2031
    US$ 112.87 Billion

Report Coverage

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Industry landscape and competition analysis & recent developments
  • Detailed company profiles
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

  • AstraZeneca
  • Boehringer Ingelheim International GmbH
  • Lilly
  • Glaxosmithkline Plc
  • Merck Sharp and Dohme Corp
  • Novartis AG
  • Novo Nordisk A/S
  • Sanofi
  • Takeda Pharmaceutical Company Limited

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

By Product
  • Injectables
  • Oral-Antidiabetic Drugs
  • Others
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
MARKET PLAYERS

The reports cover key developments in the diabetes therapeutics market into organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and patents and events. Inorganic growth strategies witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and the customer base of market players. The market players in the diabetes therapeutics market are anticipated to have lucrative growth opportunities in the future with the rising demand for diabetes therapeutic products. Below is a list of a few companies engaged in the diabetes therapeutics market.

The report also includes the profiles of key diabetes therapeutics market companies, along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last three years, and key development in the past five years.

  • AstraZeneca
  • Boehringer Ingelheim International GmbH
  • Eli Lilly and Company
  • GSK plcMerck & Co., Inc.Novartis AG
  • Novo Nordisk A/S
  • Sanofi
  • Takeda Pharmaceutical Company Limited
  • Pfizer Inc

The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Diabetes Therapeutics Market Report Scope

Report Attribute Details
Market size in 2023 US$ 66.68 Billion
Market Size by 2031 US$ 112.87 Billion
Global CAGR (2023 - 2031) 6.80%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Product
  • Injectables
  • Oral-Antidiabetic Drugs
  • Others
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • AstraZeneca
  • Boehringer Ingelheim International GmbH
  • Lilly
  • Glaxosmithkline Plc
  • Merck Sharp and Dohme Corp
  • Novartis AG
  • Novo Nordisk A/S
  • Sanofi
  • Takeda Pharmaceutical Company Limited
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Product, and Geography

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

    The List of Companies

    • AstraZeneca
    • Boehringer Ingelheim International GmbH
    • Lilly
    • Glaxosmithkline Plc
    • Merck Sharp and Dohme Corp
    • Novartis AG
    • Novo Nordisk A/S
    • Sanofi
    • Takeda Pharmaceutical Company Limited
    • Pfizer Inc
    • Glenmark
    • FDC
    • Himalaya Wellness Company
    • Janssen Global Services, LLC
    • Alembic Pharmaceuticals

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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