Market Size of Sulfonylureas Industry
| Study Period | 2019- 2029 |
| Market Size (2024) | USD 9.98 Billion |
| Market Size (2029) | USD 11.32 Billion |
| CAGR (2024 - 2029) | 3.12 % |
| Fastest Growing Market | Middle East and Africa |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sulfonylureas Market Analysis
The Sulfonylureas Market size is estimated at USD 9.98 billion in 2024, and is expected to reach USD 11.32 billion by 2029, growing at a CAGR of 3.12% during the forecast period (2024-2029).
The COVID-19 pandemic has had a substantial impact on the Sulfonylureas market. The prevalence of diabetes in people hospitalized with COVID-19 infection and the recognition that improved glycemic control might improve outcomes and reduce the length of stay in patients with SARS-CoV-2 have underlined the importance of the oral anti-diabetic drugs market. 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 sulfonylureas market's growth globally.
Sulfonylurea is an oral anti-diabetic drug used to treat type 2 diabetes. People with type 2 diabetes have chronically high blood sugar levels and sulfonylureas make the body free up more insulin.
In May 2021, the World Health Assembly agreed on a Resolution on strengthening the prevention and control of diabetes. It recommends action in areas including increasing access to medicines and health products for the treatment of diabetes and assessing the feasibility and potential value of establishing a web-based tool to share information relevant to the transparency of markets for diabetes medicines and health products.
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 cases of Type 1 and Type 2 diabetes 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.
