Antidiabetics Market to Grow at 10.51% CAGR through 2029F
Advancement in non-insulin medications and
technological innovations in blood glucose monitoring devices and treatment
delivery systems is expected to drive the Global Antidiabetics Market growth in
the forecast period, 2025-2029.
According to TechSci Research report, “Antidiabetics
Market – Global Industry Size, Share, Trends, Competition Forecast &
Opportunities, 2019-2029F”, the Global Antidiabetics Market stood at USD
81.04 Billion in
2023 and is anticipated to project steady growth in the forecast period with a
CAGR of 10.51% through 2029. One of the most significant drivers of the global
antidiabetics market is the increasing prevalence of diabetes worldwide. This
chronic disease, characterized by elevated blood glucose levels, affects
millions of people globally. Technological advancements in blood glucose monitoring
have revolutionized diabetes management, significantly impacting the global
antidiabetics market. Accurate and continuous monitoring of blood glucose
levels is essential for effective diabetes management, as it allows for timely
and precise adjustments to treatment plans, helping to maintain optimal
glycemic control. Continuous glucose monitors (CGMs) are at the forefront of
this technological revolution. Unlike traditional fingerstick testing, which provides
only snapshot readings, CGMs offer continuous, real-time data on glucose levels
throughout the day and night. This continuous monitoring allows for a more
comprehensive understanding of glucose trends and patterns, enabling better
glycemic control. CGMs can alert users to hyperglycemic and hypoglycemic
episodes as they occur, allowing for immediate intervention and significantly
reducing the risk of severe complications.
One of the significant advantages of CGMs is their
ability to improve patient adherence and outcomes. The constant stream of data
helps patients and healthcare providers make informed decisions about diet,
exercise, and medication. Studies have shown that CGM users experience lower
HbA1c levels, indicating better long-term glucose control, and a reduced risk
of hypoglycemia compared to those using traditional monitoring methods.
The integration of CGMs with insulin pumps and smart
insulin pens represents another critical advancement. These integrated systems
can automatically adjust insulin delivery based on real-time glucose readings,
effectively functioning as an "artificial pancreas." This automation
significantly reduces the burden of diabetes management on patients, allowing
for more precise and responsive insulin therapy. Patients benefit from improved
glycemic control with minimal manual intervention, enhancing their quality of
life. The data collected by CGMs can be transmitted to healthcare
providers and caregivers via digital health platforms. This remote monitoring
capability allows for continuous supervision and timely adjustments to
treatment plans, even between clinic visits. Telemedicine consultations
facilitated by these platforms have become increasingly important, especially
in the wake of the COVID-19 pandemic, ensuring that patients receive consistent
and comprehensive care.
Browse over XX market data Figures spread through XX Pages and an in-depth TOC on "Global Antidiabetics Market”
The Global Antidiabetics Market is segmented into drug
class, type, by route of administration, distribution channel, regional
distribution, and company.
Based on the Distribution Channel,
In 2023, online
pharmacies emerged as the dominant distribution channel in the global
antidiabetics market. This dominance can be attributed to several factors that
have propelled the growth and adoption of online pharmacies over traditional
brick-and-mortar establishments such as hospital pharmacies and retail
pharmacies.One key factor driving the dominance of online pharmacies is the
increasing prevalence of e-commerce and digitalization across various
industries, including healthcare. The convenience and accessibility offered by
online pharmacies appeal to patients with diabetes, allowing them to order
medications and supplies from the comfort of their homes and have them
delivered directly to their doorstep. This convenience is particularly
advantageous for individuals with diabetes who may have mobility issues or
limited access to transportation, as it eliminates the need to visit a physical
pharmacy location.
Online pharmacies often offer a wider selection of
antidiabetic medications and supplies compared to traditional pharmacies.
Patients have access to a broader range of brands and formulations, as well as
the option to compare prices and find cost-effective alternatives. This variety
and transparency empower patients to make informed decisions about their
diabetes management and ensure they have access to the medications they need. The
COVID-19 pandemic accelerated the adoption of online pharmacies as patients
sought alternative ways to access healthcare services while minimizing exposure
to the virus. The shift towards telemedicine and remote healthcare solutions
further facilitated the growth of online pharmacies, as patients increasingly
turned to digital platforms for their healthcare needs.
Based on region, Following North America, Europe is
anticipated to emerge as the dominant region in the global antidiabetics market
during the forecast period. Europe has a significant burden of diabetes, with a
high prevalence rate across many countries in the region. As a result, there is
a substantial market demand for antidiabetic medications and therapies. The
increasing prevalence of obesity, sedentary lifestyles, and an aging population
further contributes to the rising incidence of diabetes in Europe, driving the
need for effective treatments.
Europe boasts advanced healthcare systems and
infrastructure, with universal healthcare coverage in many countries. This
ensures that patients have access to comprehensive diabetes care, including
medications, medical devices, and specialized treatment centers. Europe has a strong emphasis on preventive healthcare and chronic disease
management, leading to proactive efforts in diabetes screening, diagnosis, and
treatment. Europe is home to several leading pharmaceutical companies and
research institutions specializing in diabetes research and innovation. These
entities drive the development of new antidiabetic drugs, devices, and
treatment modalities, contributing to the growth of the antidiabetics market in
the region.
Major companies operating in Global Antidiabetics
Market are:
- AstraZeneca
Plc
- Bayer
AG
- Takeda
Pharmaceutical Company Limited
- Eli
Lilly and Company
- Boehringer
Ingelheim International GmbH
- Bristol-Myers
Squibb Company
- Pfizer,
Inc.
- Johnson
& Johnson
- Merck
KGaA
- Novartis
AG
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“The integration of digital health platforms and
telemedicine into diabetes care is transforming the management of the disease.
These technologies enable remote monitoring and consultations, providing
patients with continuous support and personalized treatment adjustments. The
COVID-19 pandemic has accelerated the adoption of telemedicine, highlighting
its importance in managing chronic conditions like diabetes. Digital health
platforms offer features such as electronic health records, data analytics, and
patient education, enhancing the overall quality of care. The convenience and
accessibility of these technologies are driving their adoption, thereby
boosting the antidiabetics market. Increased healthcare expenditure in
developing regions is another key driver of the global antidiabetics market.
Governments and private sectors are investing more in healthcare
infrastructure, improving access to diabetes care. In regions like Asia-Pacific,
where the burden of diabetes is rapidly increasing, there is a growing focus on
enhancing healthcare services and availability of antidiabetic medications.
Rising disposable incomes and increased awareness about diabetes management are
also contributing to higher demand for advanced antidiabetic treatments and
technologies”, said Mr. Karan Chechi, Research Director of TechSci Research, a
research-based management consulting firm.
“Antidiabetics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Drug Class (Insulin, GLP-1 Receptor Agonists, DPP- 4 Inhibitors, SGLT2 Inhibitors, Others), By Type (Type 1, Type 2), By Route of Administration (Oral, Subcutaneous, Intravenous), By Distribution Channel (Online pharmacies, Hospital Pharmacies, Retail pharmacies),By Region and Competition, 2019-2029F”, has evaluated the future growth potential of Global
Antidiabetics 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 Antidiabetics Market.
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