Market Size of North America Meglitinide Industry
| Study Period | 2018 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2018 - 2022 |
| CAGR | 1.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Meglitinide Market Analysis
The North America Meglitinide Market size is expected to grow from USD 0.98 billion in current year to USD 1.05 billion by forecat year, at a CAGR of 1.50% during the forecast period.
In North America, the United States is having the highest number of COVID cases with 82 million in April 2022, the country also registered the highest death rate. In the North American region diabetes patients are more concerned about stocking up the monitoring and managing devices due to this the market increased during these years. The North American region had witnessed an astounding increase in the prevalence of diabetes, in recent years. In developed countries, such as the United States and Canada, the rate of diabetes is at an all-time high, mainly due to lifestyle changes. Diabetes is associated with many health complications. Comparing the population with and without diabetes, those with diabetes have a 300% increased risk of being hospitalized and thus incur more healthcare expenses compared to non-diabetic people. Patients with Type 2 diabetes require many corrections throughout the day for maintaining nominal blood glucose levels, such as the administration of additional insulin or ingestion of additional carbohydrates.
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.
This is driving the demand for Meglitinides in North America, thereby driving the market in focus during the forecast period.
