The global non-insulin therapies for diabetes market is slated to grow on an exponential note with a sizable increase in incidence of type 2 diabetes followed by governments and non-government agencies collaborating to devise better measures to cure it, with non-insulin therapies being the epicentre.
WILMINGTON, Del., Aug. 1, 2024 /PRNewswire/ -- The global non-insulin therapies for diabetes market [https://www.transparencymarketresearch.com/non-insulin-therapies-for-diabetes-market.html] is forecast to advance at a CAGR of 5.8% from 2024 to 2034. As per TMR's estimates, the market is slated to attain a US$ 58.6 billion valuations by the end of the aforementioned forecast period. As of 2023, the landscape was valued at US$ 31.8 billion.
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Non-insulin therapies are generally preferred by healthcare personnel in patients suffering from type 2 diabetes, in which body either fails to produce enough insulin or is incapable of using the insulin that it produces. Certain non-insulin agents facilitate increase of insulin release from the pancreatic cells (sulfonylureas), whereas some of them increase glucose uptake peripherally and reduce hepatic glucose output (Biguanides).
There are agents slowing down digestion of starch in the small intestine (alpha glucosidase inhibitors). Certain medications facilitate reduction of post-meal sugar by blocking some enzymes (Incretin mimetics). The last decade has seen a drastic rise in launching and approvals of non-insulin therapies for diabetes. Various drugs under the category of SGL2 inhibitors such as Empagliflozin, Canagliflozin, and Dapagliflozin were launched after 2013.
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Type 2 diabetes occurs in adults when body turns out to be resistant to insulin or does not produce insulin sufficient for the body. In other words, type 2 diabetes happens due to improper regulation of body sugar as fuel. As per the World Health Organization, 422 million people worldwide are living with diabetes, with 1.5 million succumbing to it. Need to combat type 2 diabetes through non-insulin therapies is thus driving the non-insulin therapies for diabetes market.
Key Takeaways from the Market Study
-- A valuation of US$ 33.6 billion is anticipated for the non-insulin
therapies for diabetes market in 2024.
-- From 2024 to 2034, the market for non-insulin therapies for diabetes is
slated to expand 1.7x.
-- By drug class, demand for SGLT2 inhibitors is anticipated to flourish
throughout the forecast period, attributed to their minimal side
effects.
-- Intramuscular administration of non-insulin therapies for diabetes to
acquire greater popularity, amid the need for enhanced effectiveness.
Key Drivers and Trends
-- Non-insulin-based drugs for diabetes work toward the direction of
lessening blood glucose level and keeping up for ideal glycemic control.
For instance, certain operators increment insulin discharge from the
pancreatic cells (Sulfonylureas), certain specialists increment the
glucose take-up and decrease yield of hepatic glucose (Biguanides).
-- Some operators curtail assimilation of starch in the small digestive
tract (alpha glucosidase inhibitors), and some prescriptions diminish
post-supper sugar by obstruction of some chemicals.
-- The World Health Organization states that diabetes is amongst the top 3
causes of fatalities amongst the non-communicable diseases across the
globe. Governments are collaborating with various research institutes,
hospitals, and non-government agencies to create awareness regarding
type 2 diabetes and curative measures regarding the same.
Non-Insulin Therapies for Diabetes Market Report Scope:
Report Coverage Details Forecast Period 2024-2034 Base Year 2020-2022 Size in 2023 US$ 31.8 Bn Forecast (Value) in 2034 US$ 58.6 Bn Growth Rate (CAGR) 5.8 % No. of Pages 142 Pages Segments covered By Drug Class, By Route of Administration, By Distribution Channel, By Region
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Regional Profile
-- North America dominated the non-insulin injection landscape in 2023 and
the scenario is expected to persist during the forecast period. This is
attributed to rise in incidence of type 2 diabetes in the U.S. followed
by sizable spending on healthcare.
-- As per the Centers for Disease Control and Prevention, over 38 million
Americans suffer from diabetes, with around 90-95% contracting type 2
diabetes.
-- Asia Pacific is another promising investment hub for non-insulin therapy
providers. Asia Pacific's non-insulin therapies for diabetes market
growth is ascribed to growing awareness about the importance of
non-insulin treatments for type 2 diabetes.
-- As per the National Institutes of Health, 23-30% of the youth over here
suffers from type 2 diabetes and the percentage is expected to rise
during the forecast period.
Competitive Landscape
From organizing clinical trials to seeking regulatory approval, the non-insulin therapies for diabetes landscape is experiencing noteworthy developments. Companies are pooling in a substantial amount of resources to fund trials and research and development projects. Some key providers of non-insulin therapies for diabetes include:
-- GSK plc
-- Eli Lilly and Company
-- Sumitomo Pharma
-- Intarcia Therapeutics
-- Servier Laboratories
-- Pfizer Inc.
-- Merck & Co. Inc.
-- Dong-A Pharmaceutical Co. Ltd.
-- Luye Pharma Group
-- Eurofarma Laboratories SA
Key Market Developments
-- In April 2024, GSK Plc announced that the U.S. Food and Drug
Administration has approved its Tazneum(TM )(albiglutide) product for
injection and subcutaneous use for a once-a-week treatment for type 2
diabetes. Albigludite is a glucagon-like peptide-1 receptor agonist
(GLP-1) for treating the condition.
-- In June 2023, Pfizer Inc. provided update on GLP-1-RA clinical
development program for the adults suffering from obesity and type 2
diabetes mellitus, stating that it is continuing with advancement of the
first full agonist oral candidate danudlipron toward late-state
development.
Key Segments Covered
Drug Class
-- Biguanides
-- Sulfonylureas
-- Thiazolidinediones
-- Alpha-Glucosidase Inhibitors
-- DPP-4 Inhibitors
-- GLP-1 Analogs
-- Sodium-glucose co-transporter-2 (SGLT2) Inhibitors
Route of Administration
-- Oral
-- Intramuscular
End User
-- Hospital Pharmacy
-- Retail Pharmacy
-- Online Pharmacy
Region
-- North America
-- Europe
-- Asia Pacific
-- Latin America
-- Middle East & Africa
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