Diabetes Therapeutics: Market Trends & Growth Analysis
The global diabetes therapeutics market reached USD 61.4 million in 2022 and is projected to experience significant growth, reaching up to USD 106.2 million by 2031. The market is expected to exhibit a compound annual growth rate (CAGR) of 7.2% during the forecast period from 2024 to 2031.
Diabetes therapeutics encompass a range of treatments and management strategies designed to control and mitigate the effects of diabetes. This includes medications such as insulin, oral hypoglycemics, and non-insulin injectables, as well as lifestyle interventions like diet and exercise. These therapies aim to regulate blood sugar levels, prevent complications, and improve the quality of life for individuals with diabetes. The field of diabetes therapeutics is continually evolving, with ongoing research and development of new treatments that target various aspects of the disease, including glucose metabolism, insulin resistance, and associated conditions such as cardiovascular disease. The goal is to provide personalized care that addresses the unique needs of each patient.
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Diabetes Therapeutics Market Dynamics
Increasing Prevalence of Diabetes Fuels Global Market Growth
The global diabetes therapeutics market is growing due to the rising prevalence of both type 1 and type 2 diabetes. According to the IDF Diabetes Atlas (2021), the number of adults with diabetes is projected to reach 783 million by 2045, representing a 46% increase. Currently, 10.5% of adults aged 20–79 have diabetes, with nearly half unaware of their condition. Type 2 diabetes, which accounts for over 90% of cases, is influenced by various factors including socioeconomic, demographic, environmental, and genetic variables. Key contributors to the rise in type 2 diabetes include urbanization, an aging population, decreasing physical activity levels, and increasing rates of overweight and obesity.
Market Segmentation:
By Type:
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Type 1 Diabetes
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Type 2 Diabetes
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Gestational Diabetes
By Therapy Type:
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Oral Antidiabetics
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Injectable Antidiabetics
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Others
By End User:
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Hospitals and Clinics
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Homecare
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Others
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Key Players:
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Abbott India Ltd
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Novo Nordisk
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AstraZeneca
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Pfizer
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Eli Lilly
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Dr. Reddy`s Labs
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Sanofi
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Novartis International
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Merck
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Boehringer Ingelheim
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Related Reports:
Basal Insulin (Long-Acting Insulin) Market
Oral Anti Diabetes Drugs Market
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