Type 2 Diabetes Market to Reach $64 Billion by 2026

Type 2 Diabetes Market to Reach $64 Billion by 2026

As the prevalence of type 2 diabetes grows around the world, treatment options have become more highly prescribed.

A new GlobalData report indicates that the type 2 diabetes market will double in value from $26.8 billion in 2016 to $64 billion by 2026 across 7 major markets in the United States, France, Germany, Italy, Spain, the UK, and Japan, according to a press release.

With the growth in inexpensive generics and a pipeline filled with follow-on biologics, the researchers project that the market will grow 8.4% annually in the driving markets.

Despite the current growth in the number of treatments available, the market is experiencing unmet needs, which leaves it open to growth opportunities for novel drugs; however, the authors report that metformin will remain the first-line treatment due to the familiarity and availability of the drug, according to the study.

The authors also found that usage of sulfonylureas, another first-line therapy, will continue to be overshadowed by new therapies with less side effects.

The battle for second- or third-line therapy will involve DPP-4 inhibitors, GLP-1 receptor antagonists, SGLT inhibitors, and other novel treatments, according to the study.

Of all current diabetes drug classes, GLP-1 receptor antagonists and SGLT inhibitors are projected to have the most substantial growth due to their benefits to cardiovascular health, weight loss, and ease of use, according to the authors.

These results highlight the significant increase in the prevalence, progressive nature, and diagnoses in type 2 diabetes facing many countries, which is the main driver of the market growth, according to the study.

Additionally, the authors state that the increase in comorbidities has led to a more aggressive approach to diabetes.

Many pharmaceutical manufacturers, including Novo Nordisk, Astra Zeneca, Merck, Eli Lilly/BI, Takeda, Johnson & Johnson, Sanofi, and Intarcia Therapeutics, have late-stage pipeline products or recently marketed products that could significantly strengthen their portfolios, according to the authors. The authors believe that these manufacturers and similar companies will also play a role in the market increase.

“All currently available treatments for type 2 diabetes are initially effective and reduce complication rates, but they lack the ability to maintain glycemic control in the long term because of the progressive nature of pancreatic β-cell dysfunction,” said Jesus Cuaron, PhD, PPM, managing healthcare analyst at GlobalData. “This represents one of the highest unmet needs in the type 2 diabetes space and demonstrates that the market has a significant growth opportunity for new patent-protected products that successfully address underlying disease pathology, cardiovascular concerns, or compliance issues.”

Aug 18,2017

Source: http://www.ajpb.com/

August 21, 2017 / Pharma News