Market Trends of Diabetes Care Drugs Industry
Insulin Drugs is Having the Highest Market Share in current year
- The insulin segment is expected to increase with a CAGR of over 3% during the forecast period, mainly due to the demand from the Type-1 diabetes population, which was more than 58 million by the end of the forecast year.
- According to the International Diabetes Federation, diabetes patients spent USD 966 billion in 2021, of which Type-1 diabetes patients spent a major chunk on insulin drugs. Few Type-2 diabetes patients also depend on insulin. Although only 10% of the diabetes population is Type-1, their intake of insulin is higher in them.
- Demand for insulin or diabetes treatment drugs is driven by an increase in awareness about the benefits of insulin for diabetes patients, especially in emerging economies. Other factors, such as rapid development in insulin delivery systems, drug and analog development by major companies, and the rise in the geriatric and obese population, may fuel the growth of the insulin market.
- Patients with Type 2 diabetes require many corrections throughout the day to maintain nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates. Furthermore, patients attempting to control their blood glucose levels to prevent the long-term complications associated with fluctuations in blood glucose levels are at greater risk for overcorrection and the resultant hypoglycemia.
- Although insulin has been used in the treatment of diabetes across the world for over 90 years, more than half of the population in need of insulin today still cannot afford or access it. People with Type-1 diabetes need insulin therapy, and the treatment focuses on managing blood sugar levels with insulin, diet, and lifestyle to prevent complications. Traditional biosimilars were mostly the regular human insulin biosimilars that were manufactured copies of previously approved biopharmaceuticals, which are no longer under patent protection, by any insulin pharma companies.
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North America is Expected to Dominate the Diabetes Drugs Market.
- North America dominates the global insulin therapeutics market due to the region's high prevalence of diabetes, attributed to sedentary lifestyles and the introduction of new drugs. Within North America, the United States is expected to experience significant growth in the forecast period. Factors like the escalating prevalence of obesity and an increasing focus on diabetes care awareness fuel this growth.
- The United States remains the largest market for insulin drugs in North America, primarily driven by substantial demand. The American Diabetes Association, a prominent agency dedicated to diabetes control in the U.S., aims to enhance public awareness, funding vital research and development operations for managing, curing, and preventing diabetes.
- Contributing to North America's revenue, the United States holds a major share, accounting for 92% of the current year's revenue, owing to its significant diabetic population. Annually, approximately 1.75 million Americans receive a diabetes diagnosis, with the country also facing a high prevalence of obesity, a leading cause of Type 2 diabetes.
- The traditional human insulin drugs market is anticipated to grow due to its economic affordability for patients. Among these drugs, Humulin leads in market share, closely followed by Novolin. Notably, there currently need to be generic competitors for the traditional human insulin drugs market in the United States. These factors collectively are expected to drive market growth over the forecast period.
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