Market Size of APAC Meglitinide Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2018 - 2022 |
| CAGR | 1.70 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
APAC Meglitinide Market Analysis
The Asia-Pacific Meglitinide Market size is estimated at USD 1.62 billion in current year, and is expected to reach USD 1.76 billion by forecat year, growing at a CAGR of 1.70% during the forecast period.
People with Covid-19 had a statistically greater incidence of type 2 diabetes and other kinds of diabetes in the Asia-Pacific region. Individuals with no history of diabetes who recovered from SARS-CoV-2 infections have been reported to develop insulin resistance and reduced insulin secretion. It has been proposed that integrated rather than disease-specific methods are needed for post-Covid syndrome diagnosis and therapy.
Meglitinides are a type of non-sulfonylurea insulin secretagogues with a fast onset and short duration of action. They stimulate glucose-sensitive first-phase insulin release, lowering the risk of hypoglycemia. Meglitinides cause the body to release more insulin in people with type 2 diabetes, who have chronically high blood sugar levels. The World Health Assembly agreed on a Resolution to strengthen diabetes prevention and control in May 2021. It recommends actions such as increasing access to diabetes medicines and health products and assessing the feasibility and potential value of establishing a web-based tool to share information relevant to market transparency for diabetes medicines and health products.
The number of people with diabetes, especially type 2 diabetes, has increased rapidly in recent decades in Asian countries. Over 70% of the world's diabetic population lives in developing countries. The Asia-Pacific region is expected to witness significant growth with an aging population and increasing prevalence of diabetes, mainly due to increasing stress levels. A sedentary lifestyle, smoking, and excessive alcohol consumption, which raises blood sugar levels in the body, are contributing to the growth of this market. In addition, the manufacturing bases of certain anti-diabetic drug companies in the region also fueled the market growth. However, ever-increasing drug costs are considered to be one of the biggest restraining factors for the market. According to the OECD iLibrary, about 227 million people live with type 2 diabetes in the Asia-Pacific region, about half of whom remain undiagnosed and are unaware of the development of long-term complications. According to the International Diabetes Federation, by 2021, 90 million adults aged 20-79 will have diabetes in the Southeast Asia (SEA) region, with 113 million by 2030 and 152 million by 2030. expected to increase in humans. 2045 respectively.
This is driving the demand for Meglitinides in Asia-Pacific, thereby driving the market in focus during the forecast period.
