Antidiabetics Market on the Fast Track: FMI Forecasts US$ 223 Billion Valuation by 2032 with 9.6% CAGR

In 2022, the global Antidiabetics Market is on track to achieve a valuation of US$ 89.2 billion, surging from the previous year’s figure of US$ 80.4 billion, reflecting a remarkable year-on-year growth rate of 10.9%. Looking ahead, the industry is poised to reach a substantial US$ 223 billion by 2032, marked by a robust Compound Annual Growth Rate (CAGR) of 9.6% between 2022 and 2032. A primary catalyst for this growth is the escalating global prevalence of diabetes, anticipated to be the driving force in the Antidiabetics Market from 2022 to 2032.

Furthermore, the introduction of novel products is set to positively impact the market soon. For instance, in January 2022, Novo Nordisk, the renowned Danish pharmaceutical provider, unveiled the launch of oral semaglutide in India, a significant advancement in the treatment of Type 2 diabetes. Moreover, the evolution of sophisticated pumps infused with intelligent technologies, including Artificial Intelligence (AI) and Machine Learning (ML), is projected to create a plethora of opportunities in this ever-evolving landscape.

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For instance, in July 2021, Ypsomed AG expanded the range of features of the mylife YpsoPump system. The app-based deployment of the Dexcom G6 Continuous Glucose Monitoring (CGM) System allows people with diabetes to manage their therapy through their smartphones.

On the contrary, expenses associated with insulin pumps, lack of awareness about the treatment methods, and poor reimbursement framework in developing countries are anticipated to hinder the market growth.

Key Takeaways from the Market Study:

• The insulin segment to record a CAGR of 9.4% by 2032
• The oral segment is to witness a CAGR of 9.5% during the forecast period
•  Market in the U.S. to value US$ 79.6 Billion by 2032· The UK market to hold a value of US$ 9.2 Billion
• Japan to exhibit a CAGR of 7.9% during the forecast period
• China to secure a market value of US$ 16 Billion by 2032

“Increasing incidences of diabetic patients across the globe and the rising geriatric population are projected to play a vital role in driving the market. Moreover, ongoing R&D is another factor that will benefit the market in the forthcoming period,” says an FMI analyst.

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Competition Analysis

• In May 2021, F. Hoffmann-La Roche Ltd., launched mySugar Pump Control under the mySugr app mySugr Pump Control enables patients to control insulin pumps via smartphone to import and view the data status.
• In May 2022, the Food and Drug Administration approved a new drug for people with Type 2 diabetes. The drug, Tirzepatide is a once-a-week injection that helps people in managing their blood glucose levels and lessen food intake

Key players:

• Bayer Corporation,
• AstraZeneca,
• Boehringer Ingelheim,
• Eli Lilly,
• Bristol-Myers Squibb

Key Segments Profiled in the Global Antidiabetics Market Study

Antidiabetics Market by Product:

• Insulin-based Antidiabetics
  • Rapid-Acting Analog
  • Long-Acting Analog
  • Premixed Insulin
  • Short-Acting Analog
  • Intermediate-Acting Insulin
• Antidiabetics Drug Class
  • Alpha-Glucosidases Inhibitors
  • Biguanides
  • Sulphonylureas
  • GLP-1 (Glucagon-like peptide) Agonists
  • DPP-IV (Dipeptidyl Peptidase) Inhibitors
  • Meglitinides
  • SGLT-II (Sodium-Glucose Transport Proteins) Inhibitors
  • Thiazolidinedione

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Antidiabetics Market by Patient Population:

• Antidiabetics for Pediatrics
• Antidiabetics for Adults
• Antidiabetics for Geriatrics

Antidiabetics Market by Route of Administration:

• Antidiabetics Administration through Insulin Syringes/ Insulin Pens
• Antidiabetics Administration through Insulin Pumps
• Intravenous Antidiabetics Infusion
• Oral Antidiabetics Administration
• Other Routes of Antidiabetics Administration

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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