Market Size of Meglitinide Industry
| Study Period | 2019- 2029 |
| Market Size (2024) | USD 4.35 Billion |
| Market Size (2029) | USD 4.85 Billion |
| CAGR (2024 - 2029) | 2.21 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | Asia-Pacific |
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?
Meglitinide Market Analysis
The Meglitinide Market size is estimated at USD 4.35 billion in 2024, and is expected to reach USD 4.85 billion by 2029, growing at a CAGR of 2.21% during the forecast period (2024-2029).
During the COVID-19 pandemic people with diabetes were more likely to have serious complications from COVID-19. People with diabetes have a weaker immune system, the COVID-19 complication aggravates the condition, and the immune system gets weaker very fast. Diabetes and uncontrolled hyperglycemia are risk factors for poor outcomes in patients with COVID-19 including an increased risk of severe illness or death. Thus, the COVID-19 outbreak increased the meglitinide market's growth globally.
Meglitinides are a class of non-sulfonylurea insulin secretagogues characterized by very rapid onset and shorter duration of action. They stimulate first-phase insulin release in a glucose-sensitive manner, reducing the risk of hypoglycemic events. People with type 2 diabetes have chronically high blood sugar levels and meglitinides make the body free up more insulin.
The World Health Assembly agreed on a Resolution on strengthening the prevention and control of diabetes in may 2021 which recommends action in areas including increasing access to medicines and health products for the treatment of diabetes. According to International Diabetes Federation (IDF), the adult diabetes population in 2021 is approximately 537 million, and this number is going to increase by 643 million in 2030. The rate of newly diagnosed Type 1 and Type 2 diabetes cases is seen to increase, mainly due to obesity, unhealthy diet, and physical inactivity. The rapidly increasing incidence and prevalence of diabetic patients and healthcare expenditure worldwide are indications of the increasing usage of anti-diabetic drugs. Technological advancements and innovations have increased over the period leading to several modifications either in the drugs or the formulations being developed.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period.
