Europe Meglitinide Market Size

Europe Meglitinide Market Analysis

The Europe Meglitinide Market size is estimated at USD 1.08 billion in current year, and is expected to reach USD 1.21 billion by forecast year, growing at a CAGR of 2.30% during the forecast period.

The COVID-19 epidemic has significantly affected the market for insulin drugs and devices. Patients with type-1 diabetes are more affected by COVID-19. Since people with diabetes already have weakened immune systems, COVID-19 causes those immune systems to deteriorate rapidly. Those with diabetes are more likely to experience significant complications than healthy persons. During COVID-19, the manufacturers of insulin drugs worked with local governments to provide insulin drugs to diabetes patients.

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 rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure in Europe are indications of the increasing usage of diabetic drug products. Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.

This is driving the demand for Meglitinides in Europe, thereby driving the market in focus during the forecast period.