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A01159 | Pages: 280 | Charts: 64 | Tables: 164 |
The global diabetes drugs market size was valued at $79.3 billion in 2023, and is projected to reach $157.9 billion by 2033, growing at a CAGR of 7.1% from 2024 to 2033. Diabetes drugs, also known as antidiabetic medications, play a crucial role in managing blood glucose levels in individuals with diabetes. They are typically categorized based on their mechanism of action and their impact on the body. For Type 1 diabetes, which involves an autoimmune destruction of insulin-producing cells in the pancreas, insulin therapy is the primary treatment. This can be administered through injections or an insulin pump. For Type 2 diabetes, which is characterized by insulin resistance and eventually insulin deficiency, a variety of medications are used. These include metformin, which decreases glucose production in the liver and improves insulin sensitivity; sulfonylureas, which stimulate insulin secretion from the pancreas; and SGLT2 inhibitors, which prevent glucose reabsorption in the kidneys, leading to glucose excretion through urine. The diabetes drugs market is driven by rising prevalence of diabetes globally, advancements in drug development, and an increased focus on personalized medicine. The growing aging population, coupled with lifestyle changes and high rates of obesity, contributes to a higher incidence of diabetes, boosting demand for effective treatments. Additionally, innovation in drug formulations and the development of new classes of diabetes medications enhance treatment options, fostering market growth. Increased awareness and improved healthcare infrastructure further support the expansion of the diabetes drugs market.
Key Market Segments
Key Market Players