Introduction:
Diabetes, a chronic metabolic disorder, manifests as elevated blood sugar levels and affects millions globally. If left unmanaged, it can lead to severe health complications. The diabetes care drugs market in India is thriving against the backdrop of technology advances and increasing healthcare policies, which aim to improve treatment for diabetes. In this blog, we are going to look at the diabetes landscape, its treatments, FDA approved drugs for diabetes, world pharmaceutical market size, etc.
Diabetes in 2024
The situation of diabetes continues to be a serious concern for 2024. Some key facts are given here:
- Diabetes Prevalence: In 2021, over 74 million Indians were diagnosed with diabetes. By 2045, the number is projected to be over 124 million.
- Global market size: By 2024, the world pharma market size of antidiabetic drugs is expected to reach USD 73.46 billion, with an expected annual growth rate of 5.12%. It is estimated that the market volume will be USD 89.69 billion in 2028. (Courtesy: Statista)
India’s Diabetes Care Drugs Current Trends
The Indian anti-diabetes drugs market is a dynamic environment, affected by numerous factors such as technological progress, health policy and the growing understanding of diabetes management.
Market Size and Growth:
- India's diabetes care drugs market is anticipated to touch USD 1.7 billion in 2024.
- It is expected to reach USD 2.01 billion by 2029, growing at a CAGR 3.5% over the forecast period. (Courtesy: Mordor Intelligence)
COVID-19 Impact:
- The diabetes world was greatly affected by the pandemic. India saw nearly 25% increase in diabetes incidences due to COVID-19 infections.
- Having nearly 80 million diabetes patients, India is often called the “diabetes capital.”
- COVID-19-related health problems, including new-onset diabetes and thyroid dysfunction were observed globally. This may occur due to cytokines increase and autoimmune disease. (Courtesy: Mordor Intelligence)
Insulin Market:
- In the management of diabetes, insulin is still a key component.
- Approximately 100 million people worldwide use insulin, including all patients with Type 1 diabetes and a significant proportion of those with Type 2 diabetes.
- The production of insulin is complicated, and only a few producers are dominating the market. In order to meet the needs of patients, these companies are endeavoring to deliver high quality insulin.
Trends and Innovations:
- Oral-Anti Diabetes Drugs: The highest market shares are held by this segment. During the forecast period, it is expected to increase at a compound annual growth rate of over 3%.
- Novel Medications: In 2024, drugs are introduced to offer better control of blood sugar and less side effects. New classes that are FDA approved drugs and enhance insulin sensitivity and innovative insulin delivery systems are also part of this.
Advancements Toward a Cure:
- Oral Insulin Formulations: These formulations are currently being developed to provide a nonsurgical alternative to insulin injections.
- Targeted Medications: The development of drugs focused on specific aspects of diabetes pathology, minimizing side effects and maximizing effectiveness is guided by precision medicine.
2024 Standards of Care:
Updates on the new class of obesity medicines, surveillance practices, diabetic technology and administration of teplizumab are also recommended.
Global Perspectives:
- Innovative diabetes treatment approaches are being explored by researchers around the world.
- With a focus on improving patient outcomes, the development of antidiabetic drugs continues.
Role of Chemxpert
Information about antidiabetic drugs is the meticulously curated in the top pharmaceutical database company in India, i.e. Chemxpert database. It provides comprehensive data on active pharmaceutical ingredients (APIs), insights into drug properties, market trends, regulatory details, and relationships between suppliers and consumers. Chemxpert database covers various antidiabetic agent and few of them are Glimepiride, Glipizide, Gliclazide, etc. Chemxpert is used by scientists and healthcare professionals to make decisions that drive innovation in drug development.
Conclusion
In summary, in the management of diabetic diseases, effective coordination between healthcare professionals, patients and medical technology plays an important role. Innovation and increasing awareness of improving the quality of life for patients with diabetes will be major drivers by 2024 as regards future antidiabetic medicines. Consistency of technological progress and growth will be the driving force behind this transformation.
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