13 October 2017,
The incidence of diabetes mellitus (DM), and most notably type 2 diabetes mellitus (T2DM), which accounts for 90–95% of all DM cases, is growing rapidly on a global scale, according to business intelligence provider GBI Research.
The company’s latest report: ‘Global Diabetes Drugs Market to 2023 – A Diversifying Treatment Landscape as GLP-1 Receptor Agonists and SGLT-2 Inhibitors Gain Ground Following Landmark Cardiac Outcomes’ reveals that the US is expected to experience the greatest rise in T2DM prevalence, and incidence rates are also expected to increase from 2.5% in 2016 to 4% by 2023.
Diabetes mellitus (DM) is a generalized term used to define multiple diseases with different etiologies that are characterized by chronic hyperglycemia (high blood glucose levels) resulting from insufficient synthesis, secretion or signaling of insulin – a hormone produced by the pancreas. The main role of insulin is to facilitate the absorption of glucose into skeletal muscle and fat cells following food digestion, which provides these cells with a source of energy for metabolism, and also reduces the concentration of glucose in the blood. Insulin signaling also has important roles in many processes including growth, development and controlling inflammation.
The DM market has undergone a dynamic shift over the past decade, primarily due to the entry of three new non-insulin drug classes for T2DM: glucagon-like peptide-1 (GLP-1) receptor agonists, dipeptidyl peptidase 4 (DPP-4) inhibitors and sodium–glucose linked transporter 2 (SGLT-2) inhibitors. Increased market diversification is expected to continue throughout the forecast period due to patent expiries for major insulin products and increased uptake of non-insulin drugs.
Oliver Mundell, Healthcare Analyst at GBI Research, commented: ‘In 2016, the top five products, all of which are insulin products, commanded 47% of the market by sales. By 2023 the top 10 products are expected to occupy 42% market share, many of which will be non-insulin products.’
Alongside rising prevalence, market diversification will be a key driver of growth, with the DM market projected to increase from $97.4 billion in 2016 to $158.8 billion in 2023, at a Compound Annual Growth Rate (CAGR) of 7.2%.
Mundell continued: ‘Competition will intensify over the forecast period as more companies enter the DM market space. However, Novo Nordisk, which is currently the leading player in terms of market share, is expected to maintain its position throughout the forecast period.
Despite declining revenues for high-grossing products such as Levemir (insulin detemir), more recent market additions such as Tresiba (insulin degludec), as well as the upcoming pipeline products semaglutide and oral semaglutide, are expected to more than compensate.
Mundell added: ‘The development of extremely long release insulin products and a fully artificial pancreas using both insulin and glucagon will shape the future of the DM market beyond the forecast period as ease of administration and safety is increased.’
Information based on the GBI Research report: ‘Global Diabetes Drugs Market to 2023 – A Diversifying Treatment Landscape as GLP-1 Receptor Agonists and SGLT-2 Inhibitors Gain Ground Following Landmark Cardiac Outcomes’
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Notes to Editors
- Quotes provided by Oliver Mundell, Healthcare Analyst at GBI Research
- Information based on the GBI Research report: ‘Global Diabetes Drugs Market to 2023 – A Diversifying Treatment Landscape as GLP-1 Receptor Agonists and SGLT-2 Inhibitors Gain Ground Following Landmark Cardiac Outcomes’Report overview: The current clinical and commercial landscape through a comprehensive analysis of innovation in the ophthalmology therapeutics market, in the context of the overall pipeline and current market landscape. The report also includes market size growth predictions, with in-depth market forecasting from 2016 to 2023. The forecast provides an understanding of how epidemiology trends, new drug entries and new drug patent expirations will influence market value. This also includes an analysis of the deals landscape, including both licensing deals and co-development deals. Key indications covered in detail include glaucoma, AMD, DME, DR and DES.
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GBI Research is a market-leading provider of business intelligence reports, offering actionable data and forecasts based on the insights of key industry leaders to ensure you stay up-to-date with the latest emerging trends in your markets. GBI Research is a trading name of GlobalData plc.