Global Diabetes Drugs Market to Reach USD 78,261.7 Million by 2026 | Market Size, Share, Growth, Revenue, Forecasts, & Trends Analysis Report with COVID-19 Impact by Fortune Business Insights™

GlobeNewsWire
Monday, November 8, 2021 at 10:00am UTC

Pune, India, Nov. 08, 2021 (GLOBE NEWSWIRE) -- The Global “Diabetes Drugs Market” derives growth from advancements in drug delivery systems. According to a report published by Fortune Business Insights, titled “Diabetes Drugs: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 48,753.1 Mn in 2018. Fortune Business Insights has predicted that the market will be valued at US$ 78,261.7 Mn by the end of 2026, thereby exhibiting a CAGR of 6.1%.

Key Players:

  • Novo Nordisk A/S, Sanofi
  • Merck & Co., Inc.
  • Eli Lilly and Company
  • AstraZeneca
  • Takeda Pharmaceutical Company Limited
  • Boehringer Ingelheim International GmbH
  • Novartis AG
  • Johnson & Johnson Services, Inc.
  • and Bayer AG.


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An Overview of the Impact of COVID-19 on this Market:

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.


To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/diabetes-drugs-market-100570


Availability of Low-Cost Insulin to Boost the Market

Insulin is one of the most widely used drugs for the treatment of diabetes. The exceptional properties and clinical efficacy of insulin have led to a rising uptake. Despite high efficacy, the cost associated with insulin has been a barrier towards the growth of insulin. Considering this factor, many companies are exploring potential ways to the reduced cost associated with insulin for management of diabetes.

In 2019, Eli Lilly and Company, launched a new insulin drug, that was almost half the price of its previous brands. Eli Lilly announced the low-cost insulin ‘Lispro’, a product that was priced significantly less than its previous Humalog injection. Fortune Business Insights’ latest report on the global diabetes drugs market is an encompassment of such product advancements. The report gauges the impact of product innovations, similar to Lispro, on the global market.


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Encouraged by High Demand, Glenmark Extends Insulin Sales in India

In 2019, Glenmark Pharmaceuticals announced that it plans to bring its Remogliflozin Etabonate to India. The high demand for diabetes drugs in India has influenced Glenmark’s latest move. Additionally, a huge diabetic patient pool has also contributed to the high demand for diabetes drugs in India. Such competitor moves have aided the growth of the global diabetes drugs market. The report includes company activities, similar to the aforementioned case. The report includes detailed analysis of company activities such as takeovers, mergers and acquisitions, agreements, and investment.

Increasing Drug Approvals Have a Positive Impact on Overall Market

The high prevalence of diabetes on a global scale has paved way for several clinical trials. Increasing drug approvals have aided the growth of the global diabetes drugs market. Novo Nordisk’s 2018 launch of Ozempic and Fiasp is a perfect example of the aforementioned case. Additionally, the company received approval from the Food and Drug Administration and this has aided the business expansion of Novo Nordisk. The company’s latest drug approvals will bode well for the global diabetes market and is likely to enable growth of the market in the coming years.

Fortune Business Insights has summarized the impact of several companies on the global diabetes drugs market. Furthermore, Fortune Business Insights has labelled out leading companies that have made significant contributions to the growth of the global diabetes drugs market.


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Report CoverageDetails
Forecast Period2019 to 2026
Forecast Period 2019 to 2026 CAGR6.1%
2026 Value ProjectionUSD 78,261.7 Million
Base Year2018
Market Size in 2018USD 48,753.1 Million
Historical Data for2015 to 2017
No. of Pages150
Segments coveredBy Drug Class, By Diabetes Type, By route of administration, By distribution channel & By geography.
Growth DriversDiabetes drugs are used for the treatment of diabetes mellitus
Insulin is safe as well as easier to administer and are more effective in maintaining the glucose level in patients with diabetes.


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