By Drug Class:
The diabetes care drugs market is segmented by drugs into insulin (basal or long-acting, bolus or fast-acting, traditional human insulin drugs, and insulin biosimilars), oral anti-diabetic drugs (alpha-glucosidase inhibitors, DPP-4 inhibitors, and SGLT-2 inhibitors), non-insulin injectable drugs (GLP-1 receptor agonists, and Amylin Analogue), and combination drugs (combination insulin, oral combination). The insulin segment is expected to increase with a CAGR of over 2.5% during the forecast period, mainly due to the demand from the Type-1 diabetes population, which was more than 30 million by the end of 2019. Some of the Type-2 patients also depend on insulin. Although only 10% of the diabetes population is Type-1, the intake of insulin is higher in them.
By Route of administration:
Based on the route of administration, the global diabetes drug market can be segmented into oral, subcutaneous, and intravenous. The hypertension segment is anticipated to grow at a faster CAGR. This is primarily due to the increasing prevalence of diabetes and a large number of patients across the world.
America dominates the global diabetes drug market owing to the large diabetic patient population. According to the WHO, in 2016, 9.6% of the total American population was suffering from diabetes. In addition to this, the increasing number of obese people, changing lifestyles, and increasing healthcare expenditure have boosted the growth of the diabetes drug market in America.
Europe accounts for the second-largest diabetes drug market, which is followed by Asia Pacific. The huge smoking population, availability of funds for research, and government support for research & development will drive the diabetes drug market in Europe.
Asia Pacific is the fastest-growing region for the diabetes drug market due to the presence of a huge patient population, continuously developing economies, and increasing need for better treatment.
On the other hand, the Middle East & Africa has the least share in the global diabetes drug market due to the presence of a poor economy, especially in the Africa region. Middle East holds the major share in the Middle East & Africa diabetes drug market owing to well-developed healthcare sector and huge healthcare expenditure.
The diabetes drug market is moderately competitive and consists of several major players. Few of the key players are developing novel products and technologies to compete with the existing products while others are acquiring and partnering with the other companies trending in the market. Some of the companies which are currently dominating the market are C. H. Boehringer Sohn AG & Co KG, Amgen Inc, Baxter International Inc, Pfizer Inc, and Novartis AG. The major players in the global diabetes drug market are Eli Lilly (US), Novo Nordisk (Denmark), Abbott (US), AstraZeneca (UK), Biocon (US), Sun Pharma (India), Sanofi (France), Novartis (Switzerland), Merck & Co. (US), Pfizer (US), Daiichi Sankyo (Japan), Boehringer Ingelheim (Germany), Akros Pharma (US), Amgen (US), Adocia (France), Peptron (South Korea), Takeda (Japan).