Non-Insulin Therapies for Diabetes Market at a compound annual growth rate (CAGR) of 6.9%
Non-Insulin Therapies For Diabetes Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Non-Insulin Therapies For Diabetes Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, August 19, 2024 /EINPresswire.com/ -- The global non-insulin therapies for diabetes market2 has shown robust growth in recent years. It is projected to increase from $18.71 billion in 2023 to $19.98 billion in 2024, reflecting a compound annual growth rate (CAGR) of 6.8%. Despite challenges in the healthcare landscape, the market is expected to expand significantly, reaching $26.14 billion by 2028 at a compound annual growth rate (CAGR) of 6.9%, driven by the rising prevalence of diabetes and advancements in treatment technologies.
Rising Diabetes Prevalence Drives Market Expansion
The increasing prevalence of diabetes is a key driver for the non-insulin therapies market. Factors contributing to this rise include sedentary lifestyles, unhealthy diets, and aging populations. According to the International Diabetes Federation, approximately 537 million adults were living with diabetes in 2021, and this number is projected to reach 643 million by 2030 and 783 million by 2045. This growing patient population necessitates effective management solutions, boosting the demand for non-insulin therapies that enhance insulin sensitivity, reduce glucose production, and improve glycemic control.
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Key Players and Market Trends
Major players in the non-insulin therapies market include Pfizer Inc., F. Hoffmann-La Roche AG, Merck & Co. Inc., Sanofi, and others. These companies are focusing on developing personalized diabetes management systems to improve patient outcomes. For example, Eli Lilly and Company launched the Tempo personalized diabetes management platform in November 2022, which includes innovative components such as the Tempo Smart Button and the TempoSmart app.
Trends Shaping the Market
Key trends in the market include advancements in oral and injectable medications, innovations in drug delivery systems, and the expansion of telemedicine. The growing preference for oral medications and combination therapies, alongside technological progress in digital health solutions, is expected to drive market growth. Notable developments include enhanced oral peptide delivery systems and advanced combination therapies that cater to diverse patient needs.
Segments:
• Drug Class: Biguanides, Sulfonylureas, Thiazolidinediones, Alpha-Glucosidase Inhibitors, Dipeptidyl Peptidase-4 (DPP-4) Inhibitors, Glucagon-like Peptide-1 (GLP-1) Analogs, Sodium-Glucose Co-Transporter-2 (SGLT2) Inhibitors
• Route of Administration: Oral, Intramuscular
• Distribution Channel: Retail Pharmacy, Hospital Pharmacy, Online Pharmacy
• Application: Monitoring, Diagnosis, Treatment, Other Applications
Geographical Insights: North America Leading the Market
North America was the largest region in the non-insulin therapies for diabetes market in 2023 and is expected to continue leading in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities across various geographies.
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Non-Insulin Therapies For Diabetes Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Non-Insulin Therapies For Diabetes Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on non-insulin therapies for diabetes market size3, non-insulin therapies for diabetes market drivers and trends, non-insulin therapies for diabetes market major players, competitors' revenues, market positioning, and market growth across geographies. The non-insulin therapies for diabetes market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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