Oral Anti-Diabetic Drugs Market to Grow with a CAGR of 5.47% through 2028
Advancements in drug
formulations that enhance treatment efficacy and patient compliance is expected
to drive the Global Oral Anti-Diabetic Drugs Market growth in the forecast
period, 2024-2028.
According to TechSci
Research report, “Oral Anti-Diabetic Drugs Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Oral Anti-Diabetic Drugs Market stood at USD 16.89 billion in 2022 and is
anticipated to grow with a CAGR of 5.47% in the forecast period, 2024-2028. The
Global Oral Anti-Diabetic Drugs Market has witnessed significant growth in
recent years, driven by a multitude of factors that collectively contribute to
the market's expansion. As the worldwide prevalence of diabetes continues to
rise, the demand for effective and accessible treatments has never been
greater. The escalating global diabetes prevalence has created a pressing need
for effective treatment options, and pharmaceutical companies have risen to the
occasion. Not only have they accelerated drug development, but regulatory
bodies worldwide have also streamlined the approval process for diabetes drugs
due to the urgent need. This regulatory support has expedited the introduction
of new medications to the market, bringing hope to millions of diabetic
patients. Furthermore, fixed-dose combination therapies have simplified
treatment regimens, improved adherence, and enhanced glycemic control by combining
multiple anti-diabetic drugs into a single tablet. Extended-release
formulations of existing drugs, like metformin, offer patients sustained blood
sugar control with fewer daily doses. The ongoing focus on personalized
medicine approaches has led to the development of more targeted therapies,
ensuring that patients receive treatments tailored to their unique needs.
Advancements in drug formulations
have significantly enhanced the efficacy and patient compliance of oral
anti-diabetic medications. Pharmaceutical companies have invested in research
and development to create innovative drug formulations that offer improved
therapeutic outcomes. These innovations include extended-release tablets,
fixed-dose combinations, and more patient-friendly administration methods.
These advancements have made it easier for patients to manage their diabetes,
leading to increased adoption of oral anti-diabetic drugs. Growing awareness
about diabetes and its management has played a crucial role in driving the
demand for oral anti-diabetic drugs. Public health campaigns, educational
initiatives, and improved access to healthcare services have led to earlier
diagnosis and intervention. As individuals become more informed about diabetes,
they are more likely to seek treatment, including oral anti-diabetic
medications, to better control their condition and prevent complications. The
aging global population is another significant driver of the Oral Anti-Diabetic
Drugs Market. Diabetes is more prevalent among older individuals, and as the
number of elderly people increases, so does the demand for diabetes management
solutions. Older adults often require more personalized treatment plans, and
oral anti-diabetic drugs are a crucial component of their diabetes care.
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Oral Anti-Diabetic Drugs Market”
Regulatory agencies
worldwide have been supportive of new oral anti-diabetic drug approvals,
expediting the process to ensure innovative medications reach the market
faster. This support encourages pharmaceutical companies to invest in diabetes
research and development, leading to a continuous influx of new and improved
drugs. Traditionally, many oral
anti-diabetic drugs required multiple daily doses, which could be challenging
for patients to manage. Extended-release formulations release the medication
gradually over an extended period, reducing the frequency of dosing. This not
only simplifies treatment regimens but also improves patient adherence, a
critical factor in diabetes management. Fixed-dose combination therapies are
another noteworthy advancement. These formulations combine two or more
anti-diabetic drugs into a single tablet, providing a convenient and effective
solution for patients who may require multiple medications to achieve glycemic
control. Furthermore, patient-friendly administration methods have emerged,
making it easier for individuals to take their medications. These include oral
GLP-1 receptor agonists, which offer the benefits of injectable GLP-1 therapy
in a more convenient tablet form. Such innovations have expanded treatment
options, especially for patients who may have been hesitant to use injectable medications.
The development of safer and more tolerable drug formulations is also notable.
Pharmaceutical companies are focused on minimizing side effects and improving
the overall safety profile of oral anti-diabetic drugs. This enhances patient
comfort and reduces the risk of treatment discontinuation due to adverse
effects.
The Global Oral Anti-Diabetic
Drugs Market is segmented into drugs, end user, regional distribution, and
company.
Based on the drugs, the
Biguanides segment emerged as the dominant player in the global market for Oral
Anti-Diabetic Drugs Market in 2022. This is on account of the efficacy and
widespread use of Biguanides in diabetes management. Biguanides, with metformin
being the most well-known representative, have long been a cornerstone in the
treatment of type 2 diabetes. Metformin, the most prescribed Biguanide, has a
proven track record of effectively lowering blood glucose levels. It primarily
works by reducing the liver's glucose production and enhancing insulin
sensitivity in peripheral tissues. Its efficacy and safety profile have made it
a first-line treatment for type 2 diabetes. Generic versions of metformin are
widely available, making it a cost-effective option for both patients and
healthcare systems. Moreover, Metformin is often used in combination with other
oral anti-diabetic drugs, enhancing its versatility in treatment plans.
Fixed-dose combination therapies that include metformin are readily available,
simplifying medication regimens and improving patient adherence.
The dominance of the Biguanides
segment, particularly metformin, in the global Oral Anti-Diabetic Drugs market
in 2022 is a reflection of its well-established efficacy, safety profile,
cardiovascular benefits, weight-neutral or weight-loss effects, and cost-effectiveness.
As diabetes continues to be a prevalent global health concern, Biguanides are
expected to maintain their prominent position in diabetes management
strategies, offering hope and improved outcomes for individuals living with
this chronic condition.
North America emerged as the
dominant player in the global Oral Anti-Diabetic Drugs Market in 2022, holding
the largest market share. This is on account of advanced healthcare
infrastructure, high prevalence of diabetes, and a robust pharmaceutical industry.
North America is home to some of the world's largest pharmaceutical companies
with a strong focus on diabetes research and development. These companies
invest heavily in developing innovative oral anti-diabetic drugs, which are
readily available to patients in the region. Regulatory agencies in North
America, such as the U.S. Food and Drug Administration (FDA) and Health Canada,
maintain rigorous standards for drug approval. The stringent regulatory
environment ensures that only safe and effective medications enter the market,
instilling confidence in healthcare providers and patients.
Asia-Pacific is anticipated to
hold the largest share in the coming years, on account of its rapidly expanding
population, increasing prevalence of diabetes, and growing awareness of
diabetes management. As lifestyles change and urbanization continues, the
Asia-Pacific region is expected to experience a growing demand for oral
anti-diabetic drugs, making it a pivotal player in the global market landscape.
Major companies operating in
Global Oral Anti-Diabetic Drugs Market are:
- KONINKLIJKE PHILIPS N.V.
- Sanofi S.A.
- Eli Lilly and Company
- AstraZeneca
- Astellas Pharma Inc.
- Johnson & Johnson (Janssen Pharmaceuticals)
- Boehringer Ingelheim
- Merck And Co.
- Bristol Myers Squibb Company
- Novartis AG
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“The most
significant driver is the ever-increasing global prevalence of diabetes.
Lifestyle changes, unhealthy dietary habits, and sedentary routines have led to
a diabetes epidemic. As more people are diagnosed with diabetes, the demand for
oral anti-diabetic drugs as a primary treatment option is expected to rise
significantly. Ongoing advancements in drug formulations will continue to play
a crucial role. Pharmaceutical companies are investing in research and
development to create more efficient, safer, and patient-friendly medications. The trend toward personalized medicine
is expected to become more pronounced in diabetes management. As our
understanding of the heterogeneity of diabetes increases, healthcare providers
will tailor treatment plans to individual patient needs, considering genetic
factors, comorbidities, and patient preferences and hence is anticipated to
contribute to bolster the market growth in the coming years.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based management
consulting firm.
“Oral Anti-Diabetic
Drugs Market - Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028 Segmented By Drugs (Biguanides, Alpha-glucosidase inhibitors,
Dopamine -D2 Receptor Agonist, Sodium-glucose Cotransport -2 (SGLT-2)
inhibitor, Dipeptidyl Peptidase - 4 (DPP-4) Inhibitors, Sulfonylureas,
Meglitinides), By End Users (Hospitals, Homecare, Specialty Centres, Others)
By Region and Competition”, has evaluated the future growth
potential of Global Oral Anti-Diabetic Drugs Market and provides statistics
& information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in Global Oral Anti-Diabetic Drugs Market.
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