Belgium's diabetes therapeutics market is expected to grow from $317 Mn in 2022 to $664 Mn in 2030 with a CAGR of 9.7% for the forecasted year 2022-30. The increasing demand for novel treatment options for diabetes and supportive government policies for preventing diabetes in Belgium are the major market drivers. The Belgium diabetes therapeutics market is segmented by type, application, drug, route of administration, and distribution channel. Fagron Belgium, Dafra Pharma, and AstraZeneca are the major players in the Belgium diabetes therapeutics market.
Belgium's diabetes therapeutics market is expected to grow from $317 Mn in 2022 to $664 Mn in 2030 with a CAGR of 9.7% for the forecasted year 2022-30. Belgium is placed ninth overall in the World Index of Healthcare Innovation with a score of 51.99. Belgium finished tenth in 2021 and 2022. Belgium has outperformed other countries in science and technology. With the second-highest R&D spending per capita among Index countries, China ranks eighth overall. Belgium is ranked tenth for budgetary sustainability. Belgium ranks third lowest in the Index regarding public healthcare spending, but its budgetary trend is off course. Belgium, which ranks 22nd on the Index, drops into the lowest third as public healthcare spending increases. An alarmingly high debt-to-GDP ratio and Belgium's even lower (number 23) national solvency score make the country's rising public healthcare spending a cause for concern.
6.6% of Belgians had been diagnosed with diabetes as of 2020. The estimated actual prevalence of diabetes is placed at 10% since more than one in three diabetics are unaware of their condition. As the population ages and the chance of having diabetes rises, there is a growing prevalence of diabetes. Compared to the Flemish region, the prevalence of diabetes is higher in the Walloon and Brussels Capital regions. People with lower socioeconomic status also have greater prevalence rates. These socioeconomic variations in diabetes incidence are particularly evident in the prevalence of undiagnosed or inadequately managed diabetes.
The incretin hormone glucagon-like peptide (GLP-1) has various anti-diabetic properties, including stimulation of glucose-dependent insulin secretion, elevation of insulin gene expression, and improvement in beta-cell survival. The detailed evaluation of the therapeutic efficacy of GLP-1 in animal models of type 2 diabetes (T2DM) has been made possible thanks to the recent exploitation of various routes of gene delivery and alternative means of gene transfer. Despite the initial technical challenges and profound inefficiency of direct gene transfer into the pancreas, which severely restricted in vivo gene transfer experiments with GLP-1. Numerous clinical advantages of GLP-1 peptide/analogues, including the development of glucose tolerance, the decrease of hyperglycemia, the suppression of appetite, and the relationship between food intake and weight loss, have been duplicated in animal models employing gene therapy as a result. Additionally, GLP-1-centered gene therapy not only increased insulin sensitivity but also significantly changed the adipokine profiles of treated individuals, reducing abdominal and/or hepatic fat linked to obesity-induced T2DM.
Market Growth Drivers
Diabetes and its effects are becoming more widely known in Belgium's general population. The need for diabetes medicines and preventative strategies is rising as a result of this. Therapeutics for diabetes have advanced significantly, including the creation of novel medications and delivery methods. The Belgium diabetes therapeutics market is expanding because these developments are making it simpler and more convenient for patients to manage their diabetes. The Belgian government has launched a number of initiatives to support diabetes prevention and management. For instance, the government has enacted legislation to increase access to diabetes care and has started a number of efforts to increase diabetes awareness.
Market Restraints
Diabetes treatments can be costly, which can be a major obstacle for people without access to good health insurance. This may reduce the market's ability to expand. The availability of generic medications is expanding in the Belgian market for diabetic treatments, which is placing pressure on the cost of name-brand medications. As a result, pharmaceutical firms may be forced to make smaller investments in R&D as a result of decreased income. The Belgium diabetes therapeutics market is becoming increasingly competitive, which is forcing businesses to create more efficient and cost-effective products. Reduced market investment and profitability may result from this.
Key Players
September 2022- The SHINE clinical trial, which is intended to assess the longer-term stability of Indigo's continuous multi-metabolite (or "CMM") device, has enrolled its first participant in Belgium. Indigo Diabetes N.V., a pioneer in developing medical solutions using nanophotonics, made the announcement today. For the continuous measurement of glucose, ketone, and lactate levels in diabetics, Indigo is developing a subcutaneously placed CMM device. The first of 15 people to be enrolled in the trial spanning Belgium, France, and Slovenia has been enrolled, marking a key Company milestone, at Antwerp University Hospital (UZA).
The official body responsible for issuing licenses for medicines and health products in Belgium is the Federal Agency for Medicines and Health Products (Agence Federerale des Medicaments et des Produits de Sante, FAMHP), which was formerly known as the Directorate-General for Medicinal Products of the FPS Public Health and established in January 2007. The agency's job is to guarantee the efficacy, safety, and quality of drugs and other medical supplies both during the clinical development process and once they reach the market. In accordance with the national, decentralized, and mutual recognition procedures outlined in the Royal Decree of December 12, 2006, it is also in charge of approving the first national marketing application for a pharmaceutical product. No medication may be marketed in Belgium without registration or marketing authorization. On the basis of the applicant's scientific data, the experts chosen by the various agencies assess the drug's quality, safety, and efficacy. They rely on European-level scientific criteria for this assessment. Only items with clear evidence of their quality, safety, and effectiveness are authorized for marketing as drugs. The same scientific requirements for quality, safety, and efficacy must be met by all medications approved for commercialization, whether they are brand-name or generic.
1. Executive Summary
1.1 Disease Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Patient Journey
1.6 Health Insurance Coverage in Country
1.7 Active Pharmaceutical Ingredient (API)
1.8 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Epidemiology of Disease
2.2 Market Size (With Excel & Methodology)
2.3 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By Type (Revenue, USD Billion):
By Application (Revenue, USD Billion):
By Drug (Revenue, USD Billion):
By Route of Administration (Revenue, USD Billion):
By Distribution Channel (Revenue, USD Billion):
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Fagron Belgium, Dafra Pharma, and AstraZeneca are the major players in the Belgium diabetes therapeutics market.
The Belgium diabetes therapeutics market is expected to grow from $317 Mn in 2022 to $664 Mn in 2030 with a CAGR of 9.7% for the forecasted year 2022-2030.
The Belgium diabetes therapeutics market is segmented by type, application, drug, route of administration, and distribution channel.