HYPOGLYCEMIC DRUGS MARKET ANALYSIS

Hypoglycemia is a condition when blood sugar levels drop below 70 mg/dL. Low blood sugar is especially common in people with type 1 diabetes. Hypoglycemic drugs are anti-diabetic drugs designed to help people with type 1 diabetes manage their condition. The major oral hypoglycemics drug types are:

• Biguanides,
• Alpha-glucosidase inhibitors,
• Sulphonylureas,
• Thiazolidinediones (Glitazones)
• Dipeptidyl peptidase-4 (DPP-4) inhibitors
• Glucagon

Global hypoglycemic drugs market is estimated to be valued at US$ 660 Mn in 2022 and is expected to exhibit a CAGR of 9.2% during the forecast period (2022-2030).

Figure 1. Global Hypoglycemic Drugs Market, in Terms of Value (US$ Million), By Region, 2022

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Increasing prevalence of diabetes is expected to drive the global hypoglycemic drugs market growth during the forecast period.

Increasing prevalence of diabetes is expected to drive the global hypoglycemic drugs market growth over the forecast period. For instance, according to a report published by International Diabetes Federation 2021, it is estimated that 1 in 11 adults have diabetes – (61 million), 1 in 3 (36%) people living with diabetes are undiagnosed in Europe, 1 in 7 live births are affected by hyperglycaemia in pregnancy. The Europe Region has the highest number of children and adolescents with type 1 diabetes – 295,000.

Figure 2. Global Hypoglycemic Drugs Market Share (%), By Drug Class, 2022

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Increasing product approvals from regulatory bodies is expected to drive the global hypoglycemic drugs market growth over the forecast period.

Market players are focused on gaining approvals from regulatory bodies, which is expected to boost growth of the global hypoglycemic drugs market. For instance, in July 2019, Eli Lilly and Company, a pharmaceutical company, announced that it had received approval from the U.S. Food and Drug Administration, for Baqsimi nasal powder, the first glucagon therapy approved for the emergency treatment of severe hypoglycemia that can be administered without an injection.

Global Hypoglycemic Drugs Market – Impact of Coronavirus (COVID-19) Pandemic

COVID-19 has resulted in several challenges in healthcare sector. Due to lockdown it created disruptions for the patients to visit Diabetic centers. According to an article published by Diabetes Canada, University Avenue, Canada in 2021, a study was conducted by researchers of University Avenue for the situation of diabetic patients during COVID-19. It was concluded that the rates of hypoglycemia appeared to be mixed, depending on type of diabetes. Data from Spain and Italy, examining glycemic management during the early days of lockdown, showed either no change in the frequency incidence of hypoglycemia in adults with type 1 diabetes or a decrease in the hypoglycemic events. In an Italian study of children with type 1 diabetes, there was a slight decrease in the number of cases of severe hypoglycemia reported in 2020 versus the same time period in 2019. Moreover, another Spanish study also reported no significant increase in hypoglycemiacfor people with type 1 diabetes.

Global Hypoglycemic Drugs Market: Restraints

Drug recalls from market players are expected to hinder growth of the global hypoglycemic drugs market. For instance, in June 2021, US FDA had alerted patients and health care professionals about Nostrum Laboratories’ voluntary recall of one additional lot of extended release (ER) metformin. The company had recalled the lot because the metformin may have contained N-nitrosodimethylamine (NDMA) above the acceptable intake limit.

Similarly, in May 2020, Marksans Pharma and Sun Pharmaceutical Industries Limited., announced voluntary recall of extended release (ER) metformin. The companies had recalled metformin because it may have contained N-nitrosodimethylamine (NDMA) above the acceptable intake limit.

Key Players                   

Major players operating in the global hypoglycemic drugs market include Eli Lilly & Company,  Boehringer Ingelheim GmbH,  Vistin Pharma AS,  Janssen Pharmaceutica NV,  Sanofi,  Astellas Pharma Inc.,  AstraZeneca plc.,  Merck & Co., Inc.,  Novartis AG.,  Novo Nordisk A/S,  Teva Pharmaceuticals Pvt Ltd., and  Sun Pharmaceutical Industries Ltd.