Diabetes Therapeutics Market Size, Share, Competitive Landscape and Trend Analysis Report, by Product : Global Opportunity Analysis and Industry Forecast, 2020-2030

Diabetes Therapeutics Market Size & Trends

The global diabetes therapeutics market was valued at $118,063.3 million in 2020 and is projected to reach $317,915 million by 2030, growing at a CAGR of 10.4% from 2021 to 2030. The diabetes therapeutics market is growing due to rising diabetes prevalence, advancements in insulin therapies, and growing geriatric population. In addition, expanding awareness of diabetes management, coupled with improved healthcare infrastructure and government initiatives, supports wider access to treatments, further propelling the market's expansion. According to Center of Disease Control and Prevention, in 2021, around 11.6% of U.S. population had diabetes.

Key Takeaways

• By product, the pure injectables segment was the highest contributor to the market in 2020.
• By region, North America was the highest contributor to the market in 2020. However, Asia-Pacific is expected to register the highest CAGR during the forecast period.

Diabetes therapeutics target blood glucose regulation and manage insulin resistance to treat diabetes effectively. Key treatments include insulin therapies, oral hypoglycemic agents like metformin, and newer injectable medications, such as GLP-1 receptor agonists. Emerging approaches, like SGLT2 inhibitors and advanced insulins, aim to improve glycemic control and reduce complications, supporting better quality of life for diabetes patients.

Market Dynamics

The growth of the diabetes therapeutics market is driven by several key factors, including rise in geriatric population, growing prevalence of diabetes, and increasing awareness of diabetes management.

The rise in the geriatric population is a key factor driving growth in the diabetes therapeutics market. According to the United Nations, the number of people aged 65 years or older worldwide is projected to more than double, rising from 761 million in 2021 to 1.6 billion in 2050. With age, physiological changes, including reduced insulin sensitivity and slower metabolic rates, increase the risk of diabetes onset. According to National Institute of Diabetes and Digestive and Kidney Diseases, in U.S. 38.4 million people of all ages had diabetes (11.6% of the population) in 2021. In addition, comorbidities common among the elderly, such as hypertension, obesity, and cardiovascular disease, further complicate diabetes management and heighten the demand for effective therapeutic interventions. The growing elderly demographic not only drives a higher prevalence of diabetes but also necessitates more specialized, age-appropriate treatments.

The increasing awareness of diabetes management has become a major driver for the diabetes therapeutics market, as it empowers individuals to proactively manage and control their condition. According to Pan American Health Organization, Every November 14, World Diabetes Day is commemorated. Public health campaigns, community outreach, and digital health platforms have significantly contributed to this awareness by emphasizing the importance of early diagnosis, regular monitoring, and adherence to treatment plans. Enhanced awareness has led to higher rates of diagnosis, allowing more individuals to access therapeutic interventions that prevent disease progression and complications. In addition, educational initiatives by healthcare providers and diabetes organizations have spotlighted lifestyle modifications, such as dietary management and physical activity, alongside pharmacological therapies.

Developing healthcare infrastructure is a significant driver for the diabetes therapeutics market, particularly in emerging economies where health systems are evolving rapidly. As countries enhance their healthcare frameworks, they are increasingly investing in the establishment of comprehensive diabetes care facilities, which include specialized clinics and hospitals equipped with advanced diagnostic and treatment technologies. Improved infrastructure facilitates better access to diabetes management resources, such as insulin, oral hypoglycemic agents, and continuous glucose monitoring devices, thereby promoting early diagnosis and effective disease management.

In addition, the integration of health information technology, including electronic health records and telemedicine, streamlines patient care, ensuring timely interventions and follow-up. This growing focus on diabetes care not only addresses the rising prevalence of diabetes but also aligns with global health initiatives aimed at reducing morbidity and mortality associated with the disease. Furthermore, as healthcare systems develop, they often implement training programs for healthcare professionals, enhancing their knowledge and skills in managing diabetes, which leads to better patient outcomes.

Furthermore, technological advancements are a key driver in the diabetes therapeutics market, significantly enhancing the precision, accessibility, and effectiveness of treatments. Innovations in glucose monitoring, such as continuous glucose monitoring (CGM) systems, have transformed diabetes management by allowing real-time tracking of glucose levels, improving patients' control over their blood sugar. The integration of artificial intelligence (AI) and machine learning (ML) in diabetes care devices enables predictive analytics, helping patients anticipate and respond to glucose fluctuations proactively.

In addition, advancements in insulin delivery methods, including automated insulin delivery systems and wearable insulin pumps, reduce the burden of manual insulin administration, leading to improved adherence and outcomes. Furthermore, digital health platforms and mobile applications provide personalized care plans, enabling remote monitoring and telemedicine consultations that enhance patient engagement and accessibility to care. These advancements are making diabetes therapies more adaptive and tailored to individual patient needs, which in turn drives demand and growth in the market.

Moreover, the growing investment in research and development (R&D) has become a major driver in advancing the diabetes therapeutics market. In June 2023, Sun Pharmaceutical Industries Ltd. announced an increase in R&D investment in specialty and generics business. The planned increase in spending would primarily focus on conducting additional studies on the diabetes drug GLP-1. Research and development investment is catalyzing innovation, enabling pharmaceutical companies and research institutions to explore new treatments and drug formulations tailored to various forms of diabetes, including Type 1, Type 2, and gestational diabetes. Increased funding is fueling the development of next-generation therapies, such as GLP-1 receptor agonists, SGLT2 inhibitors, and dual agonist therapies that show potential for better glycemic control and additional cardiovascular and renal benefits.

In addition, research and development investment is facilitating research in personalized medicine approaches, where treatments are tailored to the genetic and metabolic profiles of individual patients, which may enhance efficacy and reduce side effects. Advanced drug delivery systems, such as non-invasive insulin delivery methods, are also being explored, driven by substantial R&D funding. This commitment to R&D is also propelling collaborations among pharmaceutical companies, academic institutions, and technology firms, accelerating the pace of innovation and making diabetes management more effective, accessible, & patient centric.

However, a key restraint in the diabetes therapeutics market is the high costs of advanced therapies, adverse effects of certain medications. Innovative diabetes treatments, including newer injectable therapies, oral medications, and insulin delivery devices, often come with high costs, making them less accessible for certain populations and limiting widespread adoption. Moreover, some diabetes drugs such as metformin are associated with side effects, such as nausea, vomiting, diarrhea, abdominal pain, bloating, and a metallic taste in the mouth. These side effects can affect adherence to medication and limit the appeal of certain therapies.

Segments Overview

The diabetes therapeutics market is segmented into product and region. By product, the market is categorized into injectables and oral-antidiabetic drugs (OAD). By region, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Arabia, South Africa, and LAMEA).

By Product

Depending on the product, the injectables segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to widespread adoption of insulin therapies and advancements in injectable diabetes medications. For many diabetic patients, particularly those with type 1 diabetes, insulin is essential for managing blood glucose levels, making injectables a vital treatment component. In addition, the introduction of newer injectable therapies, such as GLP-1 receptor agonists, which provide improved glycemic control and weight management benefits, has expanded their appeal among patients with type 2 diabetes. Innovations in delivery methods, like pre-filled pens and auto-injectors, have enhanced the convenience and accessibility of injectables, reducing patient discomfort and improving adherence to therapy.

By Region

The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for a major diabetes therapeutics market share in 2020 in terms of revenue. The region has one of the highest rates of diabetes globally, driven by lifestyle factors such as obesity, sedentary behavior, and an aging population. This high prevalence has led to increased demand for diabetes medications and treatment options. In addition, North America, particularly the U.S., boasts a well-established healthcare system with advanced research facilities, fostering innovation and the rapid development of new diabetes therapeutics, including novel insulin formulations and non-insulin therapies.

The significant investment in research and development by pharmaceutical companies in North America further enhances this landscape, creating a robust pipeline of new drugs that support ongoing market growth. Comprehensive insurance coverage in the U.S. ensures better access to diabetes medications, enabling patients to afford and adhere to their treatment plans, while the presence of reimbursement mechanisms facilitates the adoption of innovative therapies. Increased awareness about diabetes and proactive screening programs have also contributed to higher diagnosis rates, thereby driving demand for diabetes management solutions.

However, the Asia-Pacific region is expected to register the highest compound annual growth rate (CAGR) in the diabetes therapeutics market, driven by several emerging trends. The region is experiencing a rapid rise in diabetes prevalence, particularly in countries like China and India, due to urbanization, changing lifestyles, and dietary habits. This trend is anticipated to significantly increase the demand for diabetes therapeutics. The expanding middle class in many Asia-Pacific countries is also contributing to higher healthcare spending, allowing more individuals to afford diabetes medications and enhancing market penetration. Many governments in the region are implementing initiatives to address the diabetes epidemic through public health campaigns, screening programs, and subsidized healthcare services, improving access to diabetes treatments. Furthermore, factors such as the expansion of distribution networks and healthcare facilities in both rural & urban areas have enhanced the availability of diabetes medications.

Competitive Analysis

Major key players that operate in the global diabetes therapeutics market are Astrazeneca Plc., Boehringer Ingelheim GmbH, Eli Lilly and Company, Glaxosmithkline Plc., Johnson & Johnson, Merck & Co., Inc., Novartis Ag, Novo Nordisk, Sanofi S.A., and Takeda Pharmaceutical Company Limited. Key players have adopted product approval and product launch as key developmental strategies to improve the product portfolio of the diabetes therapeutics market.

Recent Developments in the Diabetes Therapeutics Industry

• In September 2022, Novo Nordisk A/S announced the launch of an unbranded biologic of Tresiba (insulin degludec) injection, a long-acting basal insulin indicated to control high blood sugar in patients one year of age and older with diabetes.
• In November 2023, Eli Lilly and Company announced US Food and Drug Administration approved the type 2 diabetes drug tirzepatide for use in chronic weight management. Making official the use of a medicine already widely prescribed off-label for weight loss.

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Diabetes Therapeutics market analysis from 2023 to 2032 to identify the prevailing Diabetes Therapeutics market opportunities.
• Market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the Diabetes Therapeutics market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global Diabetes Therapeutics market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional and global Diabetes Therapeutics market trends, key players, market segments, application areas, and market growth strategies.