Diabetes Drugs Market: Introduction
- Diabetes, also called diabetes mellitus, is a metabolic disorder that leads to high blood sugar. The hormone known as insulin is responsible for moving sugar from the blood into cells, which is stored and used to supply energy to the body.
- In the case of diabetes, the body either cannot make enough insulin or cannot use the insulin it makes effectively
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- Two main types of diabetes are type 1 diabetes and type 2 diabetes. In type 1 diabetes, the immune system attacks and destroys insulin-producing cells in the pancreas, while in type 2 diabetes patients, the body becomes resistant to insulin.
- Dietary supplements are ingredients designed to improve a person’s diet and contain vitamins, minerals, herbs, amino acids, metabolites, and other substances. These supplements are used to lower blood sugar, improve cholesterol, lower blood pressure, treat neuropathy, insulin resistance, and other complications in diabetics.
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Main driver of the global diabetes drug market
- The proliferation of diabetes worldwide, a large number of companies offering a wide range of diabetes preparations, new product launches, and the increasing adoption of dietary supplements for diabetes management are several factors that should drive the global diabetes preparation market
- According to the International Diabetes Federation (IDF), 415 million people worldwide lived with diabetes in 2015 and it is projected that by 2040 more than 10% of the world’s adult population, or around 642 million people, will have diabetes
- According to the World Health Organization (WHO), nearly 82.7 million people were identified as diabetic in the Asia-Pacific region in 2000, and that number is projected to increase 130% to 190.5 million by 2030
- In November 2019, Dr. Reddy’s Laboratories Ltd in India launched the diabetic-friendly drink Celevida. With this launch, the company has expanded its presence in the nutrition segment of the market.
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The vitamin segment accounts for a large market share
- Depending on the type, the global diabetes drug market can be divided into vitamins, minerals, herbs, proteins, fiber, omega-3 fatty acids, and others
- The vitamin segment is expected to dominate the global market during the forecast period as prominent market players launch scientifically formulated vitamin supplements and raise patient awareness of vitamin based vitamin supplements
Type 2 diabetes segment offers significant opportunities
- In terms of disease type, the global Diabetes Supplements Market can be divided into Type 1 Diabetes and Type 2 Diabetes
- The type 2 diabetes segment is expected to gain a significant share of the global diabetes supplements market by 2027. A high prevalence of type 2 diabetes in adults is expected to drive the segment forward. According to the National Health Interview Survey, 2016 and 2017, type 2 diabetes was common among older men, adults, and people with lower family incomes, lower levels of education, and higher body mass index (BMI) in the United States. Over the same period, the national prevalence of the disease was 0.5% for type 1 diabetes and 8.5% for type 2 diabetes in the country.
North America dominates the global diabetes drug market
- In terms of region, the global Diabetes Drugs Market can be divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to dominate the global diabetes drug market during the forecast period.
- The recent product launch in the US, the high acceptance of nutritional supplements among adults and the geriatric population, and the increasing awareness of the healthy lifestyle of diabetes patients are various factors that should drive the market in North America
- In May 2015, Glucose Health, Inc. launched Glucose Health Natural Blood Sugar Maintenance, an innovative new dietary supplement for patients with type 2 diabetes
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Major Players in the Global Diabetes Supplements Market
The global diabetes drug market is highly fragmented, with a large number of domestic players making up a large share of the market. Major players in the global diabetes drug market are:
- Novo Nordisk
- Nestlé Health Science
- Danone Nutricia
- NaturoGain
- Sunshine forms of nature
- NBTY, Inc.
- Glucose Health, Inc.
- Unilever
- Bionova Lifesciences
- Caelus health
- Abbott
- Pfizer
- Arkopharma Laboratories
- GlaxoSmithKline
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