The significant increase in the Diabetes Drugs market can be attributed to the market growth of both Type 1 and Type 2 Diabetes Drugs market and the increasing rate of occurrence of these diseases. The global diabetes drugs market was valued at $34295 million in 2018 & is estimated to generate net revenue of approximately $60434.87 million by 2027, growing at a CAGR of 6.50% . The base year considered for the study is 2018 and the forecasted period is 2019-2027.

The Diabetes Drugs market is primarily driven by the following factors:

• Increase in the prevalence of diabetes
• Advances in insulin delivery technology
• Growing elderly population

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The important driver for the growth in this market is the increase in the prevalence of diabetes which is a result of increasing obesity among people caused by unhealthy diets and sedentary lifestyles. Also, obese individuals are five times more likely to be diagnosed with diabetes than individuals with normal weight. According to research, approximately 13% of the world population is obese, and this increases the risk of developing diabetes, further propelling the market growth. Also, the growing elderly population is influencing the market growth in a big way as the life expectancy rate is rising and the birth rate is declining at the same time. With the increase in the ageing population, the expectancy rate of diabetes is expected to increase with time.

The important challenges faced by both the markets commonly is poor storage conditions and distribution policies for insulin. Insulin is required to be stored at specific conditions to maintain its efficacy, which further increases its cost, especially in low and middle-income countries. Also, there are inadequate distribution policies and a lack of centralized supply chains for insulin which influences the price variations among the countries.

The Diabetes Drugs market segments includes diabetes type and product class.

Diabetes Type is segmented into:

• Type 1
• Type 2

Product Class is segmented into:

• Insulin
  • Fast acting insulin
  • Intermediate-acting insulin
  • Long-acting insulin
• Non-insulin
  • DPP-4 inhibitor
  • GLP-1 receptors agonists
  • SGLT-2 inhibitors
  • Other non-insulin drugs

This report covers the present market conditions and the growth prospects of the global diabetes drugs market for 2019-2027 and considered the revenue generated through the sales of diabetes drugs for diabetes type as well as product class to calculate the market size by considering 2017 as the base year.

Geographically, the diabetes drugs market has been segmented on the basis of four major regions, which include:

• Diabetes Drugs North America Market – United States & Canada
• Diabetes Drugs Europe Market – The United Kingdom , France, Germany, Russia , Italy , Denmark, Norway, Austria, Switzerland, Sweden, Netherlands & Rest of Europe
• Diabetes Drugs Asia-Pacific Market – China, India, Australia, Japan, South Korea, Indonesia, Malaysia, Philippines, Thailand, Viet Nam & Rest of APAC
• Rest of World- Latin America & Middle-East and Africa

The Diabetes Drugs market in North America is expected to hold the largest share by 2027 due to the maximum prevalence of diabetic population. The US consumes more than 77% of the total demand for diabetes drugs in the region. The country is followed by Canada. North America has many diabetes drugs manufacturers that offer products for use by both the types (type 1 and type 2) of diabetic patients.

The diabetes drugs market is segmented based on its product class; which are sub-divided into insulin, non-insulin and other emerging products. Insulin is further sub-divided into Fast Acting Insulin, Intermediate Acting Insulin and Long Acting Insulin, while Non-Insulin is further divided into DPP-4 Inhibitor, GLP-1 Receptors Agonists, SGLT-2 Inhibitors and others. Fast-acting insulin gets rapidly absorbed into the bloodstream and is further used to control and correct high blood glucose levels during meals. Intermediate-acting insulin is absorbed slowly as compared to fast-acting insulin and thus controls blood glucose levels overnight, while fasting, and between meals. Long-acting insulin is absorbed slowly into the bloodstream which lasts a day.

The major market players in the global diabetes drugs market are:

• Novo Nordisk A/S
• Sanofi
• Merck
• Eli Lilly And Company
• AstraZeneca

Company Profiles covers analysis of important players.

Novo Nordisk is a global healthcare company engaged in providing diabetes and obesity care products. The company also has a leadership position in haemophilia, growth hormone therapy and hormone replacement therapy. Novo Nordisk operates in Europe, North America, China, Japan, Korea and other regions of the world. It is headquartered in Bagsvaerd, Denmark. Sanofi SA (Sanofi or ‘the group’) is a France-based international pharmaceutical group engaged in research, development, manufacture and marketing of healthcare products. The group classifies its business into two operating segments: Pharmaceuticals, and Human Vaccines. It offers a range of products related to rare diseases, multiple sclerosis, oncology, diabetes, and cardiovascular diseases.

Key Findings of the Global Diabetes Drug market:

• North America holds the largest market share
• Rising prevalence of type 2 diabetes
• Insulin market is anticipated to generate the highest revenue